Binance DEX receives positive feedback from community after public testing

22 Feb, 2019
by Ryan Boltman
Binance DEX receives positive feedback from community after public testing

Binance DEX launched their public testing this week. Set to be the next best decentralized exchange (DEX), users were expecting the best from the world's most popular crypto trading asset exchange.

Binance DEX and Binance Chain public testnet launched two days ago, allowing users to create, issue and trade cryptocurrencies on the new platform. Binance have attempted to keep much of the 'look and feel' of the original Binance exchange the same. 

Binance CEO Changpeng Zhao commented on the new exchange, saying "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."

Read More: Binance DEX and Chain are now on public testnet - This is how to start

Feedback to the launch of the DEX and Binance Chain testnet appear to mostly be positive, following recent questions surrounding whether or not the DEX was in fact decentralized. In a recent interview with crypto personality Luke Martin on the Coinist Podcast, Zhao commented on the question stating ""Technically, Binance Dex and Binance Chain is fully decentralized. Users host their own private key. The network is run by a number of nodes that we don't control, and we can't shut down the network ourselves."

Read More: Is Binance DEX really decentralized? Some critics are saying it is not

Regardless, the testnet seems to be going well with Zhao commenting on Binance Chain saying "We already have more than 8 projects … confirming they will migrate from ERC-20 token to the Binance Chain …  so this is huge.”

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