Some of the users may also not appreciate stringent KYC and AML procedures, which can take a long time.ĭecentralised exchanges are used to trade peer-to-peer without involvement from a third party, and are somewhat of a mirror image of their centralised competitors. Centralisation leads to a single point of failure, which in turn makes centralised exchanges much more prone hacks and theft. On the other hand, there is a reason why many crypto hodlers insist on using their own wallets, as you do not own the assets you trade on centralised exchanges. But the most important factor speaking in favour of centralised exchanges is liquidity. They usually offer more sophisticated tools and features and are easier to use. In order to understand the value of the new DEX, one needs to understand the differences between a centralised and a decentralised exchange.Ĭentralised exchanges, as mentioned in one of our previous articles about BNB, have their own advantages. If you would like to know more about these projects, we shortly describe them in this article. Investors might want to keep updated on the tokens joining the new blockchain, as the prices of the migrated tokens have surged shortly after. Binance Coin (BNB) (if you pay transaction fees with BNB you will get more attractive terms).The number of projects that have migrated to Binance Chain to be traded on DEX is continuously growing.Īs of now, the list of projects on Binance Chain is as follows: Once the infrastructure has proven itself, additional features will follow. So while it may be application-light (there is no smart contracts feature), it can handle large throughput. As CZ explains, the focus fell on quickly bringing to market a great solution focused on a singular solution – exchanging assets. It only took several months to make Binance DEX a reality. Binance Coin (BNB) has been migrated from Ethereum to Binance Chain to become the native token of the Binance ecosystem. It was launched on April 23rd, 2019, on Binance’s new blockchain: Binance Chain, and is meant to be the quickest platform when it comes to exchanging assets – it boasts a throughput of a couple of thousand transactions per second (TPS). Binance DEX is Binance’s new decentralised exchange, or rather, a “decentralised order matching engine”, as the main page will tell you.
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