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The cryptoсurrency exchange Binance will launch the decentralized trading platform



On March 13, Binance, the largest exchange of cryptocurrency, officially announced that it is developing a public Blockchain to create a new decentralized exchange.



14.Mar.18 2:52 PM
By Daria Zaytseva
Photo Toinnov.com

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The cryptoсurrency exchange Binance will launch the decentralized trading platform

Binance's vision that "centralized and decentralized exchanges will co-exist in the near future, complementing each other", inspired them to develop the Binance Chain that will be used to transfer and trade of Blockchain assets. This step will also encourage the exchange of cryptocurrencies to transform from a company into a community.

The new Blockchain will also be placed Binance Coin (BNB), which will become a native coin on its own Blockchain network.

A decentralized exchange differs from a centralized exchange by the fact that it does not rely on third-party service to store customerís funds. Users interact with other users without the need for a central server, and there is no central authority that has books of orders or tutelage.

While decentralized exchanges provide more anonymity and are praised because they are more difficult to crack, they can be less intuitive for novice traders and do not have some functions and functionality of centralized exchanges.

Decentralized exchanges are not new, because platforms such as Waves DEX, BitShares, NXT, CounterParty have been around for some time.




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