Binanace is going to Launch its Own Public Blockchain a step towards Decetralized Exchange (DEX)
Decentralized exchanges can replace the current centralized exchanges which have so many drawbacks that are not the part of modern decentralized exchanges. Recent act of hacking on the Binance exchange must have forced them to think about the alternative of the centralized exchange.
After deep study of concept of decentralized exchanges Binance has decided to launch its own Binance chain that will focus on transfer and trading of blockchain assets. The concept of decentralized exchange is simple the buyer and the seller doesn't need to hand over there coins to the third party.
The concept of decentralized exchanges involve smart contract and it only allows you to trade assets on common block chain that's why this concept is not so popular however in future when cross blockchain trading will become practical then more investors will prefer decentralized exchange over centralized one. Binance Centralized and Decentralize exchanges will have interdependence however there are no details about the working model of the concept.
There are plenty of DEXes (Bisq, Bitshares, etc..), but nobody seems to be using them very much. Why?
Etherdelta would be the exception to the rule, but that one went to shit after the DNS was compromised.
So many people hating on Binance nowadays, because of the exchange rates, but in my opinion, Binance still is the best and safest Exchange around at the moment and improves the name of Cryptocurrency in the real world. Really good news, for all Binance supporters!
Are they serious? Well if that's the case, I think I should look forward to it. Let's hope for the best of everyone :)
Tell me, why would you look forward to it?
Once exchanges are decentralized, no external entities can detrimentally influence crypto
Aren´t they shooting in their own foot? They thank their existence because of those trading fees. If they start there own blockchain, how do they benefit from it when the fees disappear?
Interesting, but I think that blockchain-powered exchanges would be better.
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binance decentralized? i guess thats your title