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Adieu Ethereum, Hello Binance Chain: The Binance Coin, the BNB receives a new home

the Only a few days ago, the Bitcoin stock exchange announced the Genesis Block of the in-house Blockchain Binance Chain. 23. April was the Start of the decent

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Adieu Ethereum, Hello Binance Chain: The Binance Coin, the BNB receives a new home
the Only a few days ago, the Bitcoin stock exchange announced the Genesis Block of the in-house Blockchain Binance Chain. 23. April was the Start of the decentralized trading platform Binance DEX, which eked out since February with a Testnet-existence. For the Binance Coin (BNB) marked today the beginning of its move to the Ethereum-a Blockchain to the new Blockchain. The ERC20-Token is used to BEP2 Coin. Trading pairs on the DEX so far in vain.

By Christopher clover
23. April 2019BTC$5.567,00 , 4.51%part Facebook Twitter LinkedIn xing mail

Binance DEX has officially mastered the move on the Binance Chain. A User of the decentralized crypto-exchange are no longer reliant on Binance keep your Private Keys; instead, you are now responsible for your Wallet-data secure.

We believe that decentralized exchanges will bring new hope and new possibilities, and a trusted and transparent financial system. Without a Central storage of Fund Binance DEX offers a far better control over your assets. We hope that this brings our community a new level of freedom. We will work closely with projects and Teams together to expand the Ecosystem as a whole,

applying Binance, CEO of Changpeng Zhao, the DEX in a blog post dated 23. April.

Thus, the Integration of the BNB comes as a native Token of the Binance Chain. Owners of the previous ERC20 BNB are encouraged, your Token against the new BEP2 BNB exchange. This requires, of course, a Binance-Chain-address, which you can read on binance.org generate.

Binance DEX: The framework

As for the DEX itself, Mr. or Ms. over the Private Keys to his Wallet, with the establishment of the Wallet, the usual caution. Keystore File, password and the Seed Phrase must be stored safely. Otherwise, the Wallet, and thus, any deposited funds for getting lost – the price of freedom. After the Wallet is created you can convert his ERC20 BNB against BEP2 Token. In addition, there are already a number of Wallets with the Binance Chain compatible.

BNB Token Swap: The new address on the Binance Chain begins with bnb1

After a few seconds, the Token Swap is completed and one is in the possession of the native Token of the Binance DEX.

Funds: Safu (censored)

Theoretically, the decentralized Trading could begin now. However, a gaping Void prevails on Binance DEX so far: While users can already access the Binance Chain Explorer, the API and the Web Wallet; Trading is on Binance DEX has not yet been possible. The beginning of the trade is to be made "at a later date," reads the Binance Blog nebulous. According to uneventful, the views of the Binance DEX currently:

Screenshot of the Binance DEX: framework stehtDie the future of the BNB

is That Binance mean it quite seriously, with your DEX, you will notice on the "forced migration" of the BNB. Although the User can hodln continue to ERC20 BNB – however, this de facto non-functional.

the BNB has experienced in the past few weeks, a high-altitude flight, the carried him, at times, even on the all-time high of around US $ 25. This has not been achieved by any of the big Altcoins. How it will behave with its reincarnation as BEP2 Token, have yet to reveal themselves – its key role in Binance Chain is likely to have an impact but a positive impact on demand. And since Binance with your DEX plan is currently fully in time, the Trading-at the beginning, in all likelihood, not have to wait long.

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