Binance showcases pre-alpha demo of its Decentralized Cryptocurrency Exchange

Binance CEO Changpeng Zhao took to Twitter to announce the first version of its Decentralized Exchange (DEX) yesterday. In March this year, Binance had announced that it plans to launch a new public blockchain called Binance Chain, to enable decentralized cryptocurrency trading. CZ demonstrated the Binance Chain/ DEX on YouTube, indicating that the team has made good progress on its new project by delivering a demonstrable version earlier than he expected.

“Honestly, this happened much earlier than I anticipated. It is still very much in early stage development. Don’t expect too much,” said CZ as his team went on to demo issuing tokens, listing of tokens and crypto-to-crypto trading on the DEX. The major portion of the footage comprised of a command line terminal which showcased basics around token listing and trading on Binance Chain.

CZ signed off saying that, “There’s still a ton of work to be done to turn into a final product. The team’s working on it very aggressively. And nevertheless, this is a major milestone for Binance Chain. We will keep you guys up-to-date from time to time.”

It will be interesting to see when the Decentralized Exchange is finally rolled out.

(Image credit:  Changpeng Zhao on YouTube)

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