Binance Chain Decentralized Exchange coming soon, to use BNB coin
Binance is one of the biggest and most influential cryptocurrency exchange in the market. The company behind it is ready to launch a decentralized exchange called Binance Chain where the CEO and his team will only have small control.
One of the biggest complains about the Binance exchange right now is how difficult it is to get a coin listed. According to many sources, the listing fee is close to million dollars which, as you might have guessed it, only top ICOs can afford.
The decentralized exchange from Binance will allow almost any team to list their coin. They warn that with this freedom comes less security as well as scammers too will be able to get their coin listed on binance crypto exchange with ease.
CZ from Binance has also made it clear that it will be slower and will impose users with higher fees as it would require more processing power to run.
Binance coin (BNB) will be the currency that will be used on the exchange. So it could be possible for exchange to offer only BNB pairs.
Are you excited about it? It will definitely give some tough competition to etherdelta and its clones (forkdelta/dexdelta).