Binance is one of the most important virtual currency exchanges in the market. And most of the crypto enthusiast know that the company aims to create a decentralized exchange which would be called Binance Chain. According to some reports, the exchange may be ready to be launched.
Binance Chain Decentralized Exchange
According to Changpeng Zhao, CEO and founder of the Binance platform, said to Bloomberg that the team will have a small amount of control over the platform
On the decentralized exchange we’ll have less control. More likely anybody can list any coin. That’s the philosophy of the decentralized exchange, it’s freedom of choice, freedom of investment. But with freedom there will be people who are scammers. That’s not something we can control.”
At the same time, he was very sincere with the community, he said that in order to make the exchange work it will require more processing power, higher fees, and it will be much slower than the current platform.
With decentralized exchanges, parties are able to transact virtual currencies without depending on centralized third parties. In general, users do not need to create an account, give their name and provide further information about themselves.

It is also important to mention that the Binance Coin (BNB) will be the currency used at the exchange. The currency was one of the best performing during this year, and it allows individuals to reduce fees in Binance and transact with other currencies like Bitcoin, Ethereum or Litecoin, among others.

According to CoinMarketCap Binance Coin is the 15th most important virtual currency in the market with $1.84 billion dollars’ market capitalization. Each BNB token can be bought for $16.15 dollars at the time of writing.
Binance is also the most important virtual currency exchange as of press time. It handled $1.28 billion dollars in the last 24 hours, and has more than 350 trading pairs. The most important ones are BC/USDT, ETH/USDT and EOS/USDT accounting for almost 30% of the total trading volume of the platform.