Binance Cryptocurrency Exchange has published the second video showing the capabilities of the previously decentralized trading platform. In particular, the new video shows a full-fledged trading interface, the process of creating accounts and the browser of the Binance Chain company's own blockchain.
Judging by the video, the Binance DEX interface will largely resemble the appearance of an already existing exchange. Additional features include the ability to connect external addresses, create a mnemonic phrase of 24 words for private keys, as well as a tab for balances. In addition, you can see a custom icon with a drop-down menu, which shows the individual addresses.
We are excited to share a new sneak preview of the upcoming #Binance DEX! https://t.co/SjKG3Lr2H1
– Binance DEX (@Binance_DEX) December 5, 2018
Using the browser, users can search for blocks and transactions included in a specific block.
“User funds will be protected by decentralized applications like Trust Wallet, which has server-independent infrastructure, with the storage of private keys on the users device. This means that only the users themselves will have access to the funds , ”Binance said in a statement.
CEO Binance Changphen Zhao also gave additional comments on the future decentralized exchange , noting that the time to create blocks on the platform will be one second, and the transactions will be instantaneous – their finality will be recorded after one confirmation.
Three things about the @Binance_DEX
1. ONE SECOND block time, ONE confirmation finality = INSTANT TRANSACTIONS
2. You control your funds (private keys). No holding of coins at the exchange.
3. Simple UX, just like https://t.co/9rMMAmtCxH https://t.co/RNLxjn8tlj
– CZ Binance (@cz_binance) December 5, 2018
The launch of Binance DEX is expected in early 2019. The platform will provide users with the opportunity to trade both their own BNB exchange token and other coins. Currently, BNB is an ERC-20 standard token , but later it will be transferred to the Binance Chain.
