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)