Binance Will Launch a Decentralized Exchange


On March 13th, the China-based cryptocurrency exchange, Binance, mentioned in a statement that it will begin developing  a public Blockchain to make a new decentralized exchange. 

Binance, which is the largest cryptocurrency exchange based on trade volume believes “Centralized and Decentralized exchanges will co-exist in the near future, complementing each other, while also having interdependence.” This vision of the future incited the company to create the Binance Chain used for cryptocurrency exchanges and transactions.

“We believe that continuously supporting high-quality blockchain projects is the best way to develop this industry. We will continue to improve this part, as we committed in our whitepaper,” Binance said.

The cryptocurrency exchange wants to be more than just a company by creating a community.

“Binance Chain will focus on performance, ease-of-use, and liquidity. Binance Coin (BNB) will be upgraded to exist on its own blockchain mainnet, becoming a native coin. At the same time, Binance will transition from being a company to a community,” according to the statement.

Binance announced yesterday that it was offering a $250,000 bounty for information about the individuals who performed last week’s hack.

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