What is Binance DEX and Binance Chain ?
What is Binance? The name Binance is a Combination of Binary and Finance. Binance is one of the popular cryptocurrency exchanges that initially offered a centralized platform for trading 100+ cryptocurrencies. From 2018, Binance exchange is the world's biggest cryptocurrency exchange in terms of global trading volume and users. What is Binance DEX? Binance DEX is a Peer-to-peer protocol of Binance running on Binance Chain that allows users to exchange cryptocurrency directly without the involvement of admin. The notable benefit of Binance DEX is its matching system as it is created on a high power blockchain medium " Tendermint Core " with 1sec block time. This provides speed as same as centralized exchanges. Key Features of Binance DEX The key aspects of Binance DEX platforms are as follows : 1. Private keys are under the control of users 2. Decentralized order book 3. Matching mechanism with 1 sec block time These three factors can take the binance ...