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Binance, being the largest centralized cryptocurrency exchange, intends to launch a new decentralized stock exchange called Binance DEX in the first quarter of this year. It will be run by the community, and it is possible to both emit and trade cryptocurrencies without having to deposit funds deposited on the centralized stock exchange.
Binance DEX
In its first installment, the new Binance platform will provide users with the ability to upload tokens BNB Faucet as part of the stock exchange, issuing new digital assets, burning and freezing cryptocurrencies, as well as proposing trading pairs, which the entire community will decide on the devotion and turnover of.
BNB is a self-token Binancethat currently works in the chain Ethereum. The Binance chain allows you to handle the mobile wallet from the first day of use and carry out thousands of transactions in just one second. It is possible that a flat fee of 0,01 BNB will apply for transferring tokens on the chain, but this information has not yet been officially confirmed. However, it should be borne in mind that decentralization of the stock exchange is also associated with the risk of attacks and limited capacity in the chain.
Binance DEX will be a platform operating in the Binance chain, fully integrated with a trusted wallet, providing an extremely simple service process. Thanks to this, Binance has a good chance to enter the growing mobile market and hit the needs of the so-called Z generation in developed countries, which is the main consumer group in emerging markets. The DEX platform will also be integrated with the centralized Binance exchange. All tokens on the Binance list will be supported on it.
DEX will also propose an innovative user account model based on asymmetric cryptography - accounts will have the character of a private key. Thanks to such a solution, participation in the stock exchange will be not only smoother, but also safer, and Binance has a chance to increase its share in the cryptocurrency market. Thanks to decentralized activities, the platform will provide its users with high quality service and a high degree of transparency. It is possible that Binance will become the most developed and advanced decentralized stock exchange on a global scale.
