Binance, the world’s most popular cryptocurrency exchange, gave the very first sneak preview of its upcoming decentralized exchange (DEX) built on the Binance Chain, the company’s own blockchain.
A first (rough, pre-alpha) demo of the Binance Decentralized Exchange (DEX), showing issuing, listing and trading of tokens. All cli based, no GUI yet. A small step for #BinanceChain, a big step for #binance. https://t.co/2aXkR0gclP
— CZ (not giving crypto away) (@cz_binance) August 9, 2018
In the preview, Binance CEO Changpeng “CZ” Zhao walks through the process of issuing, listing and trading tokens on the platform. Given that there is no graphical user interface (GUI) at the moment, the entire preview is done using command lines.
When pressed by Twitter users on the current status of the DEX, CZ admits that it is currently years behind in terms of features, but believe its trading speeds are highly competitive. Given that Binance has significant resources at their disposal, the introduction of features should come at an accelerated pace.
CZ also notes that he anticipates that the DEX and the current centralized Binance exchange will co-exist for a period, but that the DEX will eventually take over all user activity.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.