Crypto Exchange Binance Unveils First Look At Its Decentralized Exchange (DEX)

On Thursday, Crypto Exchange Binance offered the first look at its upcoming decentralized crypto exchange.

Binance, one of the world’s biggest digital currency exchanges by trading volume, declared back in March that it has plans to start a new public blockchain for the proposes of developing the Binance Chain, a platform to transfer and trade different crypto assets without a centralized operator. Earlier this week, CEO Mr. Changpeng Zhao gave the first demonstration of the Binance Decentralized Exchange and the Binance Chain.

Mr. Changpeng Zhao told to his viewers that, today, he has something very interesting to share with them and it will be the first demo for the Binance Decentralized Exchange (DEX), the Binance Chain.

Mr. Changpeng Zhao described that his team of developers is ahead of its schedule saying in the demonstration that he expected this would happen after one to two months or more than that but the team delivered early.

While the most of the demo footage is of the command line terminal voiced over by one of the Binance Chain developers, the several activities described outline the basics of issuing, listing and trading crypto assets on the decentralized exchange.

Mr. Changpeng Zhao insisted the product remains in “early stage development.” He also said that there is still a lot of work that needs to be done. The team is working on it with dedication. This is a major milestone for Binance Chain.

Other competitors Binance like Huobi crypto exchange have declared similar plans in June to fund the creation of an open sourced blockchain protocol aimed to develop a standalone decentralized exchange.

Recently Coindelite was a part of the International Blockchain Conference in Hyderabad, India. As a media partner, Coindelite covered the 2-day event. Mr. Garry Singh, CTO, Coindelite interviewed Mr. Ted Lin, Head of International Markets, Binance Exchange.