One of the leading digital currency exchanges – Binance, has set a plan in motion to make a major impact in the ecosystem – the release of a new decentralized trading platform which will challenge the platform we know now.
Binance is one of the exchanges that did experience so much growth in the recent past as it had to terminate signups for a few weeks. The event did note out that changes need to come so a solution is made so halt like that should not happen anymore.
As announced, a complete new decentralized version of the existent exchange will be here in the near future. For the time being, there is no release date declared by the team or firm, however it seems like it will not be that long.
Binance Chain – the platforms name will be, which is in development and will be supporting various [while many] coins to change hands. However, it has still to be officially declared which of the many-cryptos will join the platform. The result obviously will be that the Binance platform which is used for trading right now ill be challenged or be complemented by the new ground.
It is good to see more companies embrace the decentralized exchange model. The new platform will also use the BNB currency as gas to power all trading. This will undoubtedly have a positive impact on the BNB price in the coming weeks and months. Given the overall bearish market sentiment right now, this is rather positive news for the industry as a whole.