Why Binance announcement is the most important event on this week so far

There are several important things that you’ve probably missed about this announcement. Let’s get straight into it. 

  

8 hours ago Binance announced official launch of the development of the Binance Chain. According to their statement: 

As a public blockchain, Binance Chain will mainly focus on the transfer and trading of blockchain assets, as well as provide new possibilities for the future flow of blockchain assets. 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.  

From the first look it is nothing special. Another decentralized exchange, ok, how many of those do we have already? Yeah, some people believe decentralized exchanges is key tech in 2018 and that trading volume will shift from centralized ones, but is it really happening? So far volume is still on Binance, Bitfinex, Bitrex and others. People don’t really trust dex-es so far. We are not get used to work with them yet. Why Binance announcement is important then? 

You’ve probably missed the following: 

• First of all, it is Binance. New DEXes are not so popular because they are new. People don’t know them, don’t trust them. Teams don’t have practical experience. And there is Binance and its team. One of the best exchanges, “key to success” for ICOs. It is becoming Apple of crypto exchanges. Label “Binance” will make it the most popular DEX. 
• Second, it is a great shift in mindset. Centralized exchanges see DEXes as a threat and competitors exactly like banks see cryptocurrency. Binance now suggesting that they can co-exist in the near future, complementing each other. It is the same as G.P. Morgan starts accepting and buying bitcoin and creates own token with the only difference that it is really happening. 
• Third, Binance Coin (#24 on CMC) will actually become a coin (not it is an ERC20 token). BNB was good investment before, now it will pump even more. Congrats to all holders.   

Disclaimer 

I’m not a financial of any kind. I encourage you to check all information yourself and make decision only based on your own opinion. All articles are created for solely entertainment purpose. 

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