Binance launched DEX
20 april 2019, 17:15
Binance launched Binance DEX based on the Binance Chain network and plans to exchange BNB tokens of the ERC-20 standard for the blockchain’s coins on April 23.
“We are pleased to announce that the Binance Chain has been launched. Public access and exchange of the internal token Binance Coin (BNB) on the network will begin on April 23, ”the company's website says.
In early February, the capitalization of Binance Coin's own token reached $ 1.17 billion. Earlier, the head of Binance Changpeng Zhao clarified that the company would not pay part of the profits of the site to BNB tokens holders due to regulatory restrictions.
For the first time, the company announced its plans to launch a decentralized exchange on the basis of its own network in March 2018. In February, Binance launched a public testing site.
To create the blockchain Binance Chain, the company used the Tendermint protocol. The developers made it as easy as possible, which made it possible to increase productivity. According to them, the network will be able to process up to 2 thousand transactions per second with a subsequent increase in throughput. Mithril will be the first project to switch to Binance Chain.
“Switching to the Binance Chain, the owners of MITH tokens will be the first to feel the speed, security and usability of the Binance decentralized exchange, while retaining full control over their own funds,” the company said in a blog. The conversion of the MITH ERC20 format to the BEP2 format will begin shortly after the launch of Binance Chain on April 18th. ”
Although the input and output of MITH will not be available during the first 12 hours after the conversion, trading will take place. After completing the necessary procedures, Binance users will be able to withdraw from the stock exchange tokens of a new format to compatible wallets (such as Ledger Nano S) and Binance DEX.
"The Bitcoin Exchange limited"