Binance, one of leading exchange platforms in trade volume terms, is currently aiming at creating a truly decentralized exchange by working out its own platform. So far, Binance has created the components of its ecosystem ( Binance Lab, Binance Info, Code) and is now ready to move to the next step: Binance Chain.
Binance said they have made all the necessary research and believe that they will be able to add some improvements to the existing frameworks and that decentralized and centralized platforms exchanges may coexist: this would allow Binance subsequently to create its own Decentralized Exchange platform (DEX) which would be in harmonious use with the current platform.
The major changes that would occur would touch the performance, ease-to-use and liquidity. The binance coin would be fashioned in a way that allows him to be a native coin existing in its own blockchain. Binance will undergo a metamorphosis itself and go from a company to a community.
They added: “As a public blockchain, Binance Chain will mainly focus on the transfer and trading of blockchain assets, as well as provide new possibilities for the future flow of blockchain assets.”
After the news has been announced, the binance coin rose for further than 38%. It has been recognized since the morning as the actif among the top 100 in the CoinMarketCap going from 8 USD to 11 USD.
As it was expected, there was a tiny correction just after the initial rise, but it didn’t have a large impact on the Binance Coin: it is still negotiated at 10 USD.