Crypto Trading Giant Binance to Launch Decentralized Exchange and Public Blockch

[JanneLee]

Cryptocurrency exchange giant Binance announced Tuesday that it will launch its own “tailored blockchain” in an apparent first step toward building a decentralized exchange (DEX).

The Hong Kong-based company — which regularly ranks as a top-three cryptocurrency exchange as measured by daily trading volume — made the announcement in a blog post, explaining that Binance Chain will “mainly focus on the transfer and trading of blockchain assets, as well as provide new possibilities for the future flow of blockchain assets.”

[surfinonmyownwavebaby]

Oh my god, are you serious right now? That is gigantic news! Here I was fearing for the worst in 2018 in regards to prohibition and regulation of this space, and here we have the top exchange innovating already. I love that they are ahead of the law makers in that regard, and man are they ever going to keep the market share now. I am so happy and giddy right now that I could tear up!

[mobnepal]

Price of binance coin was already surged after this announcement but actually they haven't uploaded any roadmap on this. They have just announced they will start their own public blockchain but haven't gave any ETA for this so this transition might take more than a year.

Setting up new decentralized exchange on top of new blockchain is time consuming so if they already haven't developed a framework on this than don't expect this decentralized exchange to come before next year.

[richardsNY]

Oh my god, are you serious right now? That is gigantic news! Here I was fearing for the worst in 2018 in regards to prohibition and regulation of this space, and here we have the top exchange innovating already. I love that they are ahead of the law makers in that regard, and man are they ever going to keep the market share now. I am so happy and giddy right now that I could tear up!

It's a pretty decent development, mainly for Binance itself, but it's not something groundbreaking. If you have been looking a bit further, you would have seen that we already have some capable decentralized exchanges, and these are NOT dependent on a centralized environment such as the one Binance plans to launch. Do you seriously believe that Binance will set up something actually decentralized? It would put their main (centralized) exchange in a very bad position in the long run, especially because of the fact that with decentralized exchanges being around, centralized exchanges are largely redundant now. We need more actually decentralized initiatives, and not this nonsense....

[aceptamosbitcoin]

Cryptocurrency exchange giant Binance announced Tuesday that it will launch its own “tailored blockchain” in an apparent first step toward building a decentralized exchange (DEX).

The Hong Kong-based company — which regularly ranks as a top-three cryptocurrency exchange as measured by daily trading volume — made the announcement in a blog post, explaining that Binance Chain will “mainly focus on the transfer and trading of blockchain assets, as well as provide new possibilities for the future flow of blockchain assets.”

Yeah, they are following Bitfinex.

Eventually all big exchanges will create their own DEX's in attempt to not lose client base. This is good for us and I want to see it happen ASAP.

[Mpamaegbu]

The OP would do better if he put out the link to the source of this news. It helps to keep things in their proper perspective and prevent needless spamming. And as for Binance starting up a DEX while it has an already existing enviable centralized exchange will be a huge dream. I seriously doubt this.

[JanneLee]

Oh my god, are you serious right now? That is gigantic news! Here I was fearing for the worst in 2018 in regards to prohibition and regulation of this space, and here we have the top exchange innovating already. I love that they are ahead of the law makers in that regard, and man are they ever going to keep the market share now. I am so happy and giddy right now that I could tear up!

I'm not joking. This is the truth.

[JanneLee]

Price of binance coin was already surged after this announcement but actually they haven't uploaded any roadmap on this. They have just announced they will start their own public blockchain but haven't gave any ETA for this so this transition might take more than a year.

Setting up new decentralized exchange on top of new blockchain is time consuming so if they already haven't developed a framework on this than don't expect this decentralized exchange to come before next year.

It is not yet clear how Binance’s DEX will operate, although it appears that it will exist alongside the company’s centralized exchange for the foreseeable future.

[Scallywag]

This is good news , this also means they also believe the future is in decentralized exchanges. Good for them that they are adapting in time , most centralized exchanges will be obsolete in a couple of years.