Cryptocurrency exchange Binance held the first presentation in the development of the platform decentralized exchange (DEX) — Binance Chain.
To start developing your own blockchain, on the basis of which then will operate a new decentralized exchange, Binance said in March this year.
As presented at Twitter six-minute video, posted on Youtube, the head of the Binance Zhao Chanpen (Changpeng Zhao), is “the first (rough, pre-alpha) demonstration of a decentralized exchange Binance”.
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 away crypto) (@cz_binance) August 9, 2018
A large part of the video one of the developers demonstrates how the tokens may be issued, transferred and exchanged on the platform. As a graphical user interface (GUI) is not yet available, all managed through a command line terminal.
Zhao said that the team is ahead of schedule, he suggested that the first demonstration will happen in a month or two. The product, according to him, is in the early stages of development.
“A lot of work to turn it into a final product. The team is working on this very aggressively. However, this is an important milestone for Binance Chain,” said Zhao.
In June, one of the competitors Binance — Huobi, announced funding for the development of one’s own blockchain Protocol open source. Ultimately, this project should also lead to the discovery of a decentralized exchange.
It is believed that decentralized exchanges are more secure than centralized. Recently, however, this idea suffered painful blows in the past month were hacked platform Bancor, positioning itself as a decentralized exchange. Immediately after the release from beta testing of a successful phishing attack Waves DEX.