Binance Announced "Binance Chain" A Decentralised Cryptocurrency Exchange !!
Hello All Dear Steemit Friends,
Today i have a really great news for all of you because one of the leading cryptocurrency exchanges "Binance" announced their own new Blockchain named "Binance Chain" and they are planning to do something very special with this new project,
So guys Binance is planning to launch their own "Decentralised Cryptocurrency Exchange" because as we seen in past few months that many Hackers attempted to hack Binance to steal our Cryptocurrencies that we have on Binance and that becomes possible because "Centralised Cryptocurrency Exchanges" have a Database of our private keys on their secure Central Servers and that why if any Hacker got some access to that server then he/she can easily use our private keys to transfer our whole funds to their accounts,
But on the other hand "Decentralised Cryptocurrency Exchanges" are very secure because they don't save our private keys on any online server and our keys kept always safe with us and because they don't store anything on the internet so it's not possible for hackers to steal our personal information from that exchange, that's why Decentralised Cryptocurrency Exchanges are becoming very popular each day,
And this news that Binance is also planning to use decentralised exchange is really great for all Binance users, Binance is really working hard to provide us a totally secure and hassle free cryptocurrency trading experience in near future,
And this is also a great news for BNB coin holders because this coin is going to be use as a major cryptocurrency for this project and that's why we saw a price up in Binance Coin after this news came out,so Binance Coin holders are going to see some good growth in their BNB Coins.
Currently they didn't disclose their full planning for this new "Decentralised Cryptocurrency Exchange" but as soon as i got more new information i will give you more detailed information about this topic,
You can read their Full Article Here
So guys what are your opinions about this announcement of Binance ?? Please share with me in the comments below 😇
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Thanks For Reading My Post 😇😇
That is great news, their decentralized exchange is gonna be received well by everyone especially active traders who mostly leave their coins on the exchange. There is nothing worse than unexpectedly losing money to hackers. Bitshares is a another decentralized exchange but not many people know about it.
Yes that's a great news and these decentralised exchanges are not quite popular now and also confusing to use for many people, i think we should give them a try because keeping our Cryptocurrencies save is becoming more and more difficult each day and these types of exchanges really helpful in keeping them save from Hackers.
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Hey, How are your buddy ???
Are you healthy now?
I did not know clearly about decentralized and centralized currency
before.
Thanks @thecrytotrader..for give us a new unknown cryptocurrency exchange..
Thanks for asking bro, Iam still on bed rest and my injuries needs more time to totally Healed up but luckily my hands are now totally Healed so i can write posts now😃😃 and iam happy that i give so new information to you.
Yeh , Buddy..
Hope you get well soon...@thecrytotrader.
Thanks 😇
I'm curious how this will work out. So will Binance more or less compete with Bisq now? If things are on their own blockchain, they as a company or an exchange will lose control, right? Or at least if users want they could fork? Not that forking would benefit anyone, I'm confused.
I knew this was coming a couple of months ago, but it's not a decentralized exchange like most people hear the words decentralized exchange. It's a 'chain' for transferring and trading blockchain assets with a focus on performance, simple UI, and liquidity events. Although I do not agree with everything Binance does, (contest that pump) they do have a technically talented team plus they are attempting to set the standard in service by mimicking the quality customer service provided by Bloomberg's expensive trading terminal. The CEO used to work for Bloomberg and wants Binance to be as good if not better in providing service. I belong to several exchanges for alts and I think Binance is a cut above the rest and I love their branding.
I believe Binance will eventually open up shop in the USA, become regulated, pair alts with USD and pound coinbase into the ground for not caring about customer service.
In the future, I would like to see Binance provide rewards to users who spend time editing their 'info' wiki's. They are currently written by the coin's team and they should read more like Wikipedia. It makes me laugh when a team describes their coin or token as being more scalable than Bitcoin with transaction times being 20x faster. This is great and all, but if your value proposition of your shitcoin needs to mention Bitcoin this is not a good sign. Coins and tokens focusing on transaction speed or scale being it's in use is just worthless hype.
Ask any VC and they will tell you they would gladly fund a company running into scaling issues over a company who is prepared to scale if and when they get users.
Follow me at @alakazam for quality content.
Wow! It's so secure ...Great news 😃