Binance, the biggest crypto exchange in the world might soon be launching a beta version of its blockchain-based decentralized exchange (DEX). The CEO of Binance, Changpeng Zhao, better know as CZ, shared via Twitter, that the exchange hopes to have the beta released by the end of 2018 or the beginning of 2019.
Just had a productive meeting for #Binance #DEX (decentralized exchange), where $BNB will be native gas, and the exchange don't control user funds. Aiming for a public beta end of the year/early next year. Yes, we work on Saturdays, non stop!— CZ Binance (@cz_binance) September 29, 2018
Just over a month ago CZ showed a still raw array of the upcoming DEX processes. Due to the absence of a graphical user interface, the presentation was done through lines of code. It is also known from the Binance CEO that Binance Coin (BNB), will be used as gas, whilst fully allowing the users to keep absolute control of their assets.
WHY IS IT IMPORTANT?
- Decentralized exchanges are considered as a safer means of trading since they do not store the assets of their users and merely act as a platform for peer-to-peer trade.
- People living in countries where crypto is banned will have the opportunity to participate in its purchase and sale since DEX has no physical location and therefore is practically impossible to regulate.
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