Binance: Launch of the decentralized exchange at the end of the year

Binance: Launch of the decentralized exchange (DEX) by the end of the year

Home News Binance: Launch of the decentralized exchange (DEX) by the end of the year

Of
Marcus Misiak –
30.09.2018

Binance, one of the world’s leading and most popular crypto currency exchanges is making great steps in the direction of the launch of its decentralized exchange (DEX). How to Changpeng Zhao, CEO of Binance announced via Twitter, will start the Binance DEX at the end of this year/ beginning of next year, with a public Beta Version.

The Version, accordingly, will be accessible for all users. Allerdngs it will be still a (almost finished) test version of the users to report errors or problems with the platform or even new functions can propose. Changpeng Zhao aka CZ also stated that the Binance Coin (BNB) will act as a Gas on the platform and the crypto-currencies of the user (i.e. the Private key) to the new DEX by the company, i.e., can be controlled by a Central instance.

Already in the beginning of August, Zhao a short Demo Version (“Casual Pre-Alpha Demo was shown”), the DEX based is not yet complete on a command-line Terminal. At the time, CZ said that the centralized platform Binance and the new Binance DEX will coexist. The new DEX will not replace the “old” stock.

Contrary to the expectations that this new Update will affect the price of the NBB positive, does not reflect the price of the NBB, the positive news for BNB. At the time of writing the Binance Coin recorded only a small increase of 0.59% over the last 24 hours, at a price of 8.51 EUR (9,88 USD).

At the beginning of the month Binance came after the publication of a report by the attorney General of New York, Barbara Underwood to the attention of the New York authorities. The attorney General had Binance, octopus and Gate.io, because of possible violations of legal regulations and, thus, the presumption of illegal Operation in New York to the New York Department of Financial Services referred to.

Each of the exchanges had refused to provide the state requested information. In a recent Interview, CZ stated in this regard, he referred to the regulatory environment in the United States, which was, in its view, still unclear. In contrast to stock exchanges, such as Coinbase or Gemini Binance, the focus is not predominantly on the US, since the rest of the global market is a larger market for the company.