Binance to Launch a Decentralized Crypto Exchange, Based on Blockchain

post image

The crypto market is going to get enriched by another cyber money trading venue, and this time – based in the blockchain.

The news has been announced by the most considerable crypto bourse on earth (by trading scope) Binance.

The exchange officially notified this week that currently, it is working on the unrestricted blockchain in order to generate e new decentralized crypto trading platform.

Why Does The World Need a Decentralized Crypto Exchange?

According to the Binance statement, in the foreseeable future, both decentralized and centralized cyber assets trading venues will exist simultaneously. Therefore, they will elaborate each other.

The new project, which the exchange giant is developing at the moment, is called the Binance Chain. Binance also wants to use this as an opportunity to grow from a company into a network or community.

The crypto exchange added that it believes that developing blockchain-based projects is the optimal variant for keeping the crypto sphere going. Binance also emphasized that this aspect of developments has been determined by its whitepaper and it will continue working in accordance with it.

What’s The Difference Between Decentralized and Centralized Bourses?

Here are primary distinguishing traits between two of them:

  • The first one does not lean on the service of third parties when it comes to storing its clients’ funds.
  • At the same time, all customers of a decentralized bourse buy and sell coins between each other without the necessity of a central server.
  • Furthermore, there’s no central dominion that processes order books or custody.
  • Decentralized trading venues are anonymous.
  • They are tougher to be hacked.
  • However, they might be confusing for crypto trading newcomers and lack functionality.

A New Coin Will Emerge

Despite from a novel trading platform, there’s expected to appear a digital currency, called Binance Coin (BNB).

Quick Look At All Crypto News And Events For November 2020
Were you too engrossed in trading left and right that you’d completely spaced on getting your monthly update of the latest events in the crypto world? Well,...
Bitcoin Era Success Story: Teen Hits Jackpot With Crypto Trading
17-Year Old Hits The Jackpot With Cryptocurrency Trading Venture The news media has been swept up in a tornado with the latest news of a 17-year-old boy...
Keep Up With October Crypto Events Checking Out This Quick Roundup
Top Crypto Market News Of October You Should Catch Up With Do you think the world is turning more crypto-crazed day by day? There’s no limit to your investments...
A Collection Of Fresh Crypto News For Those Who Missed Out
The Major Roundup On The Latest Crypto News In The World The last month has been full of events and brought even more pressure on local business pretty...
What Everyone Should Know About Tokenization
Blockchain tokenization is a means of digital representation of a right and can be done with the help of a ledger. This can be a right to asset ownership...
What To Expect From A Cryptocurrency Market In 2020
Crypto market has always been a good target for speculation, shady schemes, and "bad guys". It's also very controversial, especially for financial markets...
Ethereum Foundation Confirms Upcoming ‘Istanbul’ Upgrade
On November 7th, Péter Szilágyi announced the date of the foundations impending upgrade, known as ‘Istanbul’. This upgrade will be the eighth hard fork...
Bitcoin’s Volatility? In 2017 BTC Was More Stable Than In Its Early Days
Despite some 30% crashes in 2017, bitcoin managed to increase by total 1,400% last year, conquering the world’s financial stage. Banks are becoming more...
Stablecoin - Everything You Need to Know
What Is A Stablecoin? You must have heard of cryptocurrency which has been the recent talk of the town. Well, stablecoins are a form of cryptocurrency....
Influence of Recent Cryptocurrency Boom: Does It Still Hurt?
Crypto Exchange Gate.io Agrees With Reports Showing 51% Attack On Ethereum Classic Bitcoin is a decentralized digital currency (also known as cryptocurrency)....
What is a Security Token?
Security tokens became very popular, but do you really know what is STO?STO is Security Token Offering, which is identical to an ICO. In this, there are...
Canada Reports Blockchain To Be Amongst Its Highest Paying Industries
A report recently published by the Canadian Digital Chamber of Commerce proves that the money involved in the blockchain industry of the nation is at the...
Cryptocurrency Exchange Security Levels
The growing interest in cryptocurrencies has led to the emergence of a wide selection of both digital money and the sites where you can exchange one cryptocurrency...
Belarusbank Considers Setting Up Crypto Exchange
Last year March Belarus introduced a decree by which it legalized cryptos and some activities related to them. This made Belarus a frontrunner in the race...
Gold Pulls Bitcoin Investors From BTC, Says Van Eck Associates CEO
In 2017-2018 bitcoin bit gold as bait for investors. However, the situation is expected to change in 2019 as investors already hope more for the gold than...