Major Binance has launched the testnet of its new decentralized exchange, Binance DEX, according to a press release shared with Cointelegraph on Feb. 20.
Per Binance, the exchange, powered by Binance Chain — a new and peer-to-peer () distributed system — is already available for customers. Users can create and start exchanging tokens on the Binance DEX testnet.
CEO of Binance explained that the new exchange will help users regain control of their private keys:
“Binance DEX is a decentralized exchange with a decentralized network of nodes, where you hold your own private keys and manage your own wallet. With Binance DEX, we provide a different balance of , freedom and ease-of-use, where you take more responsibility and are in more control of personal assets.”
Binance DEX will reportedly support secure decentralized software and wallets. Binance’s Trust Wallet will also be integrated with Binance DEX, along with the Ledger Nano S. More compatible wallets will purportedly be added soon, the press release notes.
Earlier this week, Binance that Binance Coin () — which is currently an token — will be moved to the Binance Chain in order to become a native asset. Zhao then claimed that Binance Chain is able to achieve one-second block times, reportedly 10-20 times faster than the and blockchains.
is currently up over 12 percent over the past 24 hours, trading at $10.80 and ranked 10th largest coin by market cap by press time.
Promises of a testnet release for Binance DEX since December 2018, but the exact date was only this month.
In January, Binance to be planning expansion into several new countries, including Singapore, Malta, South Korea, Liechtenstein, Argentina, Russia, Turkey and Bermuda. However, a company spokesperson at the time could only confirm Singapore and Malta.
Published at Wed, 20 Feb 2019 08:04:00 +0000
