Cryptocurrency and Blockchain News

Binance Launched Decentralized Exchange Ahead of Schedule 25 April 2019 - 1602, Abraham Gates (CryptoGuide)

Binance has launched its anticipated Decentralized Exchange (DEX) on Tuesday ahead of planned schedule after two months of testing and with nearly 8.5 million transactions made across programs and competitions as reported by Binance. Binance DEX user interface is somewhat similar to its existing centralized exchange, although the trading page uses a dark grey background instead of the usual white.

Image 1: Binance DEX User Interface.

As of today, there is no trading pair on Binance DEX although Binance representative has informed that trading can be expected to start in the next few days as soon as tokens are issued and listed with trading pairs created on the DEX.

While trading will begin later, users can start to create wallets on the DEX to prepare for the trading launch. This arrangement by the Binance team was probably intentional since wallet creations for sufficient number of participants are required before trading can begin efficiently, and the process will take time.

Image 2: Binance DEX Wallet Creation Screen.

The DEX launch comes only a week after the launch of its own native blockchain, the Binance Chain, together with its native (BEP2) BNB token to replace the previous ethereum based ERC-20 BNB coins. Traders can now exchange their ERC-20 BNB coins for the new native BEP2 tokens at Binance Cryptocurrency Exchange