Changpeng Zhao, CEO of Binance, the largest Bitcoin-exchange in terms of tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details volume, announced the date of the upcoming launch of Binance Chain, a blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details test network that underlies the Binance DEX decentralized exchange.
Interesting in the section: Description of the Binance exchange platform, the algorithm for creating an account
"Finally, we have a date. Public testing is scheduled to begin on February 20," – Zhao said.
Binance Chain is built on the Tendermint protocol from the Cosmos Network project. According to Zhao, the architecture of this protocol is best suited for the tasks of the new platform. The blockchain at the heart of Binance DEX will operate based on the Delegated Proof of Stake (DPoS) and the Byzantine Fault Tolerant (BFT).
The platform interface will allow projects to release tokens based on Binance Chain and "effectively carry out ICO", attracting funds in BNB tokens.
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Binance DEX Plans
Binance DEX plans, which first appeared last year, are designed to provide cryptocurrency owners with a decentralized base for exchanging tokens, strengthening the security system.
Binance also plans to expand its operations to at least two new markets in 2019, the company representative confirmed in January.
Editor: Yuliya Soroka