Binance Showcases Interface and Functionality of Its Decentralized Exchange
Cryptocurrency exchange Binance has published a new video demonstrating the capabilities of the upcoming decentralized platform. If the previous video on this topic showed certain operations performed through the command line, which did not mean much to the average user, then in the new release we are shown a full-fledged trading interface, the process of creating accounts and the Binance Chain blockchain observer.
To create an account, users are encouraged to use a combination of a KeyStore key file and a password, or a 24-word mnemonic phrase. In the future, the developers promise to add additional options for creating accounts.
The interface of the trading platform in many ways resembles what Binance users work with on its main platform, with the difference that it provides the function of connecting external addresses in the blockchain – like on other decentralized exchanges. Moreover, the video shows the process of placing and canceling an application.
The balance tab also looks a lot like today’s Binance interface. The video shows the account balance in BNB or Binance Chain Native Token, into which the current BNB tokens are likely to be converted. The writer explains that the BNB transfer fee is fixed at 0.01 BNB.
The final part of the video demonstrates the capabilities of the Binance Chain blockchain explorer, which are not much different from the functionality of similar services in other blockchains..
The author of the video does not name the launch date for DEX Binance, but clarifies that soon all the things shown in the recording will be available on the project testnet, and promises to disclose information about additional characteristics in soon. Yesterday it became known that the launch of Binance Chain could happen in “a couple of months”.
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