Connect with us

Altcoins

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

Avatar

Published

on

Binance's DEX update: CZ says Binance DEX's mainnet will launch this month
Source: Pixabay

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 Binance.com 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”





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.

News

Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more

Guest Author

Published

on

Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more

Daily Crypto News – May 25

1) Bitcoin Wallet receives part of 5,000 BTC: A recent Whale Alert highlighted a transaction on May 24, where a large sum of Bitcoin [BTC] exchanged hands between two anonymous wallets. According to the alert the transaction took place at 22:13:23 + 1 minutes and 5,000.00001092 BTC was transferred from an unknown wallet, with address 19SiCYaYKZh9A8HUjuh14eg5wtYzKxiFbB, to another unknown wallet with address 14GcjGjxwadzcpmq9EG3KUgTKATjurbnWt.

Read more at https://bit.ly/2VRQwb0

2) Bitwise Report 2.0: Bitcoin [BTC] futures continues growth: On a month-on-month basis, Bitcoin Futures saw a massive bump in April trading at an average of 10,000 contracts daily, peaking on April 4, with over 22,000 contracts traded. To put that number in perspective, in March 2019, the average contracts traded was less than 4,000. Despite the high standards set in April, the average daily contracts traded in May, with 25 days gone has exceeded 14,000 and still looks to grow, given the price performance of Bitcoin.

Read more at https://bit.ly/2W40sTR

3) Craig Wright on private keys: Craig S Wright has, for years, claimed he is the true creator of Bitcoin [BTC] without providing a shred of evidence to support the same. With the crypto-community levelling, Wright could prove his worth by sending BTC from Satoshi Nakamoto’s touted wallet containing around 980,000 BTCs, the BSV man in a twisted cause and effect situation, stated he will “sign” into his wallet only when he proves he is the creator.

Read more at https://bit.ly/2X6fdlw

4) Tether’s [USDT] market cap hits ATH: Tether and Bitfinex are being closely scrutinized now more than ever due to the NYAG’s lawsuit; however, the scrutiny doesn’t seem to have affected Tether as the market cap of USDT has increased by over $100 million in approximately 70 days.

Read more at https://bit.ly/2McaTjE

5) Tether volume shift: Another controversial topic in the cryptocurrency industry was the issue of fake transaction volumes on many of the popular cryptocurrency exchanges. The magnitude of the topic was so large that even Changpeng Zhao, the Chief Executive Officer [CEO] of Binance had raised red flags. This topic and Tether as a whole received another twist when Larry Cermack, the Director of Research at The Block, pointed out a few parameters when it came to the said volume.

Read more at https://bit.ly/2wmk4mJ

6) Bitfinex’s LEO tokens listed on Delta Exchange: Bitfinex’s Leo tokens faced quite a lot of criticism when they were announced, due to the missing $850 million funds from Bitfinex. The private investment round by Bitfinex also faced a lot of heat from the media. However, in a recent development, Leo tokens are being listed on various exchanges for trading.

Read more at https://bit.ly/2HUEnNB



7) Robinhood en-route a projected valuation of $7 billion: Robinhood, the California-based cryptocurrency exchange made headlines recently when a source close to the organization revealed that it was on the verge of closing their latest round of funding at a valuation of a whopping $7 billion – $8 billion. Sources even claimed that the current round of funding could act as a precursor to an even bigger round of funding, which would pit Robinhood with the bigwigs like Coinbase and Binance.

Read more at https://bit.ly/2W64KKj





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending