April 18, 2021

Binance showcased its decentralized exchange for the first time …

Binance Showcases Its Decentralized Exchange For The First Time

Binance Holds First Demonstration Of A Decentralized Cryptocurrency Exchange Platform In Development.

Binance announced its plans to create a decentralized cryptocurrency exchange (DEX) in March. According to her statement, the platform will be based on its own Binance Chain blockchain and will allow exchanging cryptocurrencies without involving intermediaries. Binance CEO Changpeng Zhao Held First DEX Demo on Thursday.

“Today I want to share with you something truly exciting. This is the first demonstration of the Binance decentralized exchange, ”Zhao said..

Binance Showcases Its Decentralized Exchange In Operation For The First TimeBinance held its first ...

He explained that the developers are ahead of the deadlines: “I thought it would happen in a month or two, but the team is doing it very quickly.”.

Binance Showcases Its Decentralized Exchange In Operation For The First TimeBinance held its first ...

Most of the demonstration of DEX operation boiled down to showing the command line terminal, with which the platform developer carried out the issuance, listing and exchange operations.

Zhao stressed that DEX is still at a very early stage of development. “There is still a lot to be done to turn this into a final product,” he said. “The team is very active. In any case, this is an important achievement for Binance Chain. “.

In June, Huobi announced that it will develop its own public blockchain protocol, which in the future may also form the basis of a decentralized exchange..

According to a study by Alethio, most of the existing decentralized cryptocurrency exchanges are centralized to a certain extent..

Binance Showcases Its Decentralized Exchange In Operation For The First TimeBinance held its first ...

As practice has shown, decentralized platforms are also not immune from malicious interference, although non-traditional attack vectors can be used to deceive their visitors. So, at the end of last year, users of the EtherDelta exchange were redirected to a phishing copy of the site due to the spoofing of DNS addresses.

Binance Showcases Its Decentralized Exchange In Operation For The First TimeBinance held its first ...

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