Binance CEO Changpeng Zhao gives sneak preview of the Binance Chain decentralized crypto exchange
Binance CEO Changpeng Zhao boasts “A small step for #BinanceChain, a big step for #Binance,” via Twitter, and offers a look at some features of the decentralized exchange.Tweet this
Earlier today, Binance CEO Changpeng Zhao (“CZ”) announced via Twitter the first demo of the Binance decentralized exchange, which is still in very early stage development.
Unlike centralized exchanges such as Binance, a decentralized exchange does not rely on any third-party service to hold customer funds. Instead, peer to peer trades occur through an automated process using smart contracts.
The demo video of the Binance decentralized exchange, which has no graphical user interface yet, shows the processes of issuing and creating a token, listing the token on the exchange, and trading that token against another token.
CZ says there is still a ton of work to be done before a final product will be ready for launch, but the team is working very aggressively and has been meeting goals ahead of schedule.
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