Binance DEX AND Chain are now on public testnet - this is how you start

20 Feb, 2019 | Updated: 20 Feb, 2019
by Jelmer van der Dussen
Breaking News
Binance DEX AND Chain are now on public testnet - this is how you start

Binance has announced that both Binance Chain and the Binance DEX have now entered the public testnet phase

The exchange has provided links for users to test the two new features of Binance. The DEX is decentralized exchange built on top of Binance Chain. Users can create, issue and trade cryptocurrencies on this decentralized platform, with an interface that is very similar to the regular Binance exchange.

In a press release comment, CEO Changpeng Zhao says that "Binance DEX is a decentralized exchange with a decentralized network of nodes, where you hold your own private keys and manage your own wallet. With Binance DEX, we provide a different balance of security, freedom and ease-of-use, where you take more responsibility and are in more control of personal assets."

Binance Chain
Binance Chain is the native Binance blockchain. It's not yet clear when the mainnet will launch officially. Binance will make a statement on that at a later stage. Until the launch of the mainnet, the Binance Coin (BNB) will remain an ERC 20-token on the Ethereum Network. 

"Binance Chain has near-instant transaction finality, with one-second block times. This is faster than other blockchains today", CZ explains. "With the core Binance Chain technology, Binance DEX can handle the same trading volume as is handling today. This solves the issues many other decentralized exchanges face with speed and power."

In anticipation of the launch of the DEX and Chain, the BNB token gained 15% over the last 24 hours, reaching a new all time high against Bitcoin. $BNB is now worth $11.19. 

Users can now test the Chain and Dex on the public testnet. Binance has provided tutorials for people to help you get started. 

This is how you create a wallet on the Binance DEX

This is how you access your wallet on the Binance DEX

This is the Interface Guide of the Binance DEX

This is how a guide on how to fund your Testnet Account

This is the Binance Chain Explorer

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