DailyCoin
DailyCoin

Bitcoin Price, Digital Currencies News, Blockchain News, Charts and Information

Post Login
  • Home
  • Price & Data
    • Bitcoin Price Index
    • Bitcoin Cash (BCH) Price
    • Ethereum Classic (ETC) Price
    • Ethereum Price
    • Litecoin (LTC) Price
    • Ripple (XRP) Price
    • EOS (EOS) Price
    • Dash (DASH) Price
    • Zcash (ZEC) Price
    • Market Center
    • Monero (XMR) Price
    • Bitcoin Price Ticker Widget
  • News
    • Business News
    • Markets News
    • Technology News
    • Features
    • Legal
    • Bitcoin Market
    • Mining
    • Companies
    • Crime
    • Ethereum Market
    • Bitcoin
    • Exchanges
    • Regulation
    • Litecoin Market
    • Security
    • Startups
    • Banking
    • Prices News
    • Ethereum
    • Bitcoin ATMs
    • Bitcoin News
    • Ripple Market
    • Energy
    • Press Releases
  • Guides
    • What is Bitcoin?
    • Why Use Bitcoin?
    • How Can I Buy Bitcoins?
    • How do Bitcoin Transactions Work?
    • How Bitcoin Mining Works
    • How to Store Your Bitcoins
    • What Can You Buy with Bitcoin?
    • Who is Satoshi Nakamoto?
  • Wallet
X

Binance’s Decentralized Exchange Is About to Launch for Public Testing

Changpeng Zhao

Binance’s Decentralized Exchange Is About to Launch for Public Testing

February 12, 2019 12:00 PM | By Jit Sutradhar Exchanges Markets News Other Public Protocols Technology News

  • Google
  • Facebook
  • Twitter
  • More
    • Pinterest
    • Reddit
    • Digg
    • Linkedin
    • Delicious
    • Tumblr
    • BufferApp
    • Pocket
    • Evernote

Binance, the world’s largest cryptocurrency exchange by adjusted trading volume, is about to release its decentralized exchange, Binance DEX, for public testing.

The firm’s CEO Changpeng Zhao tweeted Tuesday that the firm is targeting a date of Feb. 20 for the public testnet release of Binance Chain – the native public blockchain being developed to support the DEX.

Last week, in a 45-minute live ask-me-anything (AMA) chat on Twitter, Zhao provided details of the coming DEX.

He said the firm has already given early access to a few “selected partners,” including wallet developers and blockchain explorers, who will be integrating tools into the decentralized platform. Ledger’s hardware wallet, the Nano S, is already integrated, he said, while the Nano X and wallets from Trezor and KeepKey will come on board in the future.

Binance DEX will be available on all platforms, including Windows, Linux, Mac OS, iOS and Android, as per the AMA.

“Binance DEX works very similar to bitcoin,” Zhao explained. “So most transactions are transparent. There’s no hidden transactions or private transactions.”

Further, there will be a listing fee of about $100,000 for tokens listed on Binance DEX – a high entry hurdle that he said was set to reduce the number of “spam or scam projects.”

Teasing the service, Binance released a detailed video of Binance DEX in December. That provided a demo of the trading interface, its web-based crypto wallet and an explorer for Binance Chain.

The firm said at the time that Binance DEX will have a very similar interface to its existing centralized exchange, with some additional features such as an option to generate a 24-word mnemonic seed phrase for users’ private keys.

Binance Chain was unveiled in March 2018, with the firm saying at the time that it is being built to offer “low latency, high throughput trading, as well as decentralized custody of funds.”

The exchange’s own token, Binance Coin (BNB), will also play a role in the functioning of the blockchain.

In the AMA, Zhao said:

“Binance Coin on the Binance Chain is the same as the Ethereum coin on the Ethereum network. You will have to use it to pay for network transactions, as gas.”

Yesterday, BNB extended its recent price gains to set a new all-time high against bitcoin.

Singapore-based cryptocurrency exchange Huobi also announced a plan to evolve into a standalone decentralized exchange last summer. It also offered funding for developer assistance in creating an underlying open-source blockchain protocol.

Changpeng Zhao image via CoinDesk archives

 

Article Source: http://www.coindesk.com

BinanceDecentralized ExchangesDEX
  • Google
  • Facebook
  • Twitter
  • More
    • Pinterest
    • Reddit
    • Digg
    • Linkedin
    • Delicious
    • Tumblr
    • BufferApp
    • Pocket
    • Evernote
bitcoin-image

Previous :


Bitcoin Price Pattern Hints at Short-Term Rally to $4K
Dubai

Next :


Bithumb Kicks Off Middle East Expansion With UAE Crypto Exchange

Related Posts

Europe on a globe
Banking

European Banks Launch DLT Startup for Small Businesses

A group of major European financial institutions has jointly formed a post-trade blockchain startup designed specifically for small- and medium-sized …

July 13, 2017 8:00 am | Jit Sutradhar

ethereum
Bitcoin

Bets Against Ether’s Price Hit All-Time High

The number of short orders placed on ether (ETH) reached a new all-time high during Friday’s trading session, according to …

September 8, 2018 12:14 pm | Jit Sutradhar

Computer miniature
Companies

US Government Funds $3 Million Cryptocurrency Research Initiative

Three American universities are set to conduct wide-ranging research on cryptocurrencies using roughly $3m in grant funding from the National …

July 29, 2015 10:52 pm | Jit Sutradhar

egg, chicken
Feature

Fabric 1.0: Hyperledger Releases First Production-Ready Blockchain Software

Open-source software isn’t so much built, it grows. And today, the open-source blockchain consortium Hyperledger has announced that its first …

July 11, 2017 3:02 pm | Jit Sutradhar

Comments (0)

    Write a Reply or Comment Cancel reply

    You must be logged in to post a comment.

    You must be Logged In or Sign Up to post a comment.

    Recent Releases

    • Maker’s MKR Crypto Outperforms in February with 37% Gains

      February 16, 2019 4:11 PM | By Jit Sutradhar

    • Metrics May Point to Ether Being Undervalued

      February 16, 2019 10:00 AM | By Jit Sutradhar

    • tZERO Is Live, But Volume Is Light and Its Token’s Price Is Down Sharply

      February 15, 2019 7:27 PM | By Jit Sutradhar

    • NYSE Arca Filing Kicks Off Countdown for New Bitcoin ETF

      February 15, 2019 3:26 PM | By Jit Sutradhar

    Features

    • Maker’s MKR Crypto Outperforms in February with 37% Gains

    • ether-ethereum

      Metrics May Point to Ether Being Undervalued

    • tZERO

      tZERO Is Live, But Volume Is Light and Its Token’s Price Is Down Sharply

    • SEC

      NYSE Arca Filing Kicks Off Countdown for New Bitcoin ETF

    • dominos-pizza

      ‘Make Bitcoin Fun Again’: New Lightning App Lets You Buy Pizza With BTC

    • Home
    • Guides
    • About
    • Contact
    © 2019 DailyCoin . All Rights Reserved.

    Join to DailyCoin


    SignUp with Facebook
    SignUp with Twitter
    SignUp with Google
    or with email
    Username
    Email
    Password (at least 6 characters)
    Confirm Password

    Login to DailyCoin


    Login with Facebook
    Login with Twitter
    Login with Google
    or with email
    Username or e-mail
    Password
    Remember Me
    Lost Password?

    Reset Password

    Enter the username or e-mail you used in your profile. A password reset link will be sent to you by email.


    Username or E-mail


    Loading...

    Don't have an account? Sign Up Already have an account? Login