Binance DEX: New Video demonstrates the functioning of a decentralized Exchange

the Binance is pushing ahead with the development of their decentralized Exchange (DEX). In a Video, a developer of Exchange demonstrates the functionality of the new platform. The Sending and Receiving of Binance Coins (BNB) works already properly.

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5. December 2018 share Facebook Twitter LinkedIn xing mail

To the development of a functioning decentralized Exchange is linked to the crypto-Community have great expectations. Although BISQ and BitShares will not work on the paper; to a wide audience but these are not yet accessible. A hot candidate for the breakthrough of decentralized Bitcoin exchanges, the Binance DEX. Already in August of this year Binance CEO Changpeng Zhao has announced the development of the DEX in a first Teaser, via YouTube.

*SNEAK PREVIEW* Binance Chain / DEX

watch This Video on YouTube.

Since then holds the crypto-community in the Binance DEX. Finally, Binance since the beginning of 2018, the largest crypto Exchange in the world, as measured by the trading volume. The user base of your DEX could be accordingly high, and a new Chapter for the trade with crypto currencies such as Bitcoin to usher.

New Preview function

demonstrating that the company released a new Teaser. In the seven-minute Video, one of the developers shows how to Create a Wallet to work, and then performs a transaction with BNB. This is relevant in so far as the DEX is based on the Binance Blockchain, in turn, BNB as a native Token acts.

Binance DEX Preview 2

watch This Video on YouTube. What makes decentralized Exchanges?

DEX apply almost as a Holy Grail for crypto adaptation. Well-known Bitcoin-cops like John McAfee even tie their exorbitant rate to predict the impact of decentralized exchanges.

Decentralized exchanges, when fully functional, will.mark the end of any potential control by government and will be the beginning of the largest economic boom in human history https://t. co/GwqQAABLSU

— John McAfee (@official McAfee) September 15, 2018

What's behind the phenomenon DEX ?

the most Important feature is the elimination of the so-called Single Point of Failure. Since the users of your liquid crypto no longer need to store assets on the servers of the exchanges, but on the Blockchain, the Exchange can save, DEX against Hacking protected-attacks as much as possible. Users create an account, a full crypto-Wallet, and control your own Private Key. DEX, then, are less a platform, rather than a decentralized Protocol, the equal investors in trading can occur without the exchange must meet a fiduciary function.

The Launch of the Binance DEX is planned for the first quarter of 2019.

anyone Who wants to gain an Overview of the pros and Cons of decentralized Exchanges, the view in our DEX 101 to heart.