Binance’s DEX update: CZ says Binance DEX’s mainnet will launch this month

Binance, the largest cryptocurrency exchange in the world with over 10 million users, had previously announced the launch of DEX on testnet. In a recent update, the launch of DEX on the mainnet was announced.

Binance tweeted,

“@Binance_DEX anticipated mainnet launch will happen this month” – @cz_binance #deconomy2019 #Binance”

In a recent blog by Binance, Changpeng Zhao stated,

“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 security, freedom, and ease-of-use, where you take more responsibility and are in more control of your assets.”

DEX will not have a central controlling authority and is built on the decentralized principles of blockchain. Cryptospace’s movement towards DEX will have a positive impact on the space since centralized exchanges such as Bithumb and Cryptopia have been targeted recently by a host of hack attacks.

CZ spoke about Binance and DEX during his recent AMA, stating,

“We want to disrupt ourselves and not wait for other people to disrupt us. So that’s why we’re offering as the centralized exchange. And then we are also offering the decentralized exchange Binance Dex. So in the ideal world, we want to be in a leading position in both places. As time goes on, we will continue to improve both products and we’ll let the market decide.”

DEX will allow users to issue tokens, just like on the Ethereum blockchain. By tokens, CZ meant that users will be able to run ICOs, and even raise funds in BNB. The performance of BNB since the beginning of the year has been nothing short of a miracle.

A Twitter user, @sahil041645, commented,

“Trying to pump the coin, good try! $BNB and $tron are literally same category coins..Announcement of announcement..Lol”

@888velvet, another Twitter user, commented,

“Stop calling it a #DEX it’s not a DEX! $Block and $KMD are real #Dexes”

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