The head of the largest crypto currency exchange Binance Chanpen Zhao said that his company plans early next year to provide a public beta version of the decentralized marketplace.
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) 29 September 2018 R.
“We just held a productive meeting about Binance DEX, the fuel for which would serve as tokens BNB, and the exchange will not control the means of users. Our goal is public beta by the end of this/beginning of next year. Yes, we work on Saturdays, no camping!”, — the head of the Binance.
Previously, Zhao has repeatedly called decentralized exchange “the future of the crypto industry.” In the long term, he believes that users will use to trade cryptocurrency neoscopelidae wallets. The exchange is done peer-to-peer way. Such a model will give users full control over the funds.
“I am confident that the future is in decentralized exchanges. I don’t know yet when that future comes. I think now we are at an early stage, so it is unknown whether to leave it a year, two, three or five years. I don’t know, but we have to be ready”, — said earlier Zhao.
It is no secret that the lion’s share of the profits of centralized exchanges is generated, usually at the expense of the various commissions. However, decentralized exchanges can charge a Commission built into smart contracts used by the platforms to transfer transactions to the main network of public blockchains.
Zhao said that the main benefits of decentralized exchanges are the freedom and user control over their funds. On these platforms, users do not need to create accounts or to apply for withdrawal. Any trading activity is implemented through the blockchain and through neoscopelidae wallet.
We will remind, in July, Chanpen Zhao presented the first demo of a decentralized exchange on Binance.