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Video: Binance shows off new decentralized cryptocurrency exchange

Binance is apace inching closer to ablution its decentralized cryptocurrency barter desk (DEX) – and the aggregation is assuredly ready to show a alive demo.

In a video on its YouTube channel, Binance teased footage of the alleged Binancechain. The video walks users through the action of registering a new annual and aperture a new cryptocurrency wallet.

It also gives users a glimpse into the actual trading terminal, as well as a look at the user interface for sending and accepting funds.

Binance, DEXs, and cryptocurrency

This isn’t the first look we’ve gotten at Binance’s accessible DEX.

A few months back, CEO Changpeng Zhao showcased addition teaser of the new platform. Although the aggregation initially alien the action under the name  in March, it seems the final artefact will be called Binancechain.

We are ablution Binancechain very soon, in a couple months or so, and you will be able to issue tokens on that,” the Binance CEO said at an event beforehand this week. “I think there will be millions of coins and bags of blockchains.”

Unlike centralized exchanges which are absolute by one entity (and can freeze users’ action and funds arbitrarily), DEXs give users full ascendancy of their funds. Since decentralized casework are broadcast among abundant stakeholders, users have more ascendancy over their funds and the risk of censorship is decidedly reduced.

It’ll be absorbing to see if Ethereum co-founder Vitalik Buterin thinks more of Binance’s efforts to launch a DEX, than he does about barter casework active on centralized frameworks.

Published December 5, 2018 — 11:36 UTC

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