Decentralization is the Future, But Not Ready Yetĭecentralization is the future. And instead of being proactive and setting up guidelines beforehand instead of later after something happens, which causes damage control afterward. He also recently tweeted about how crypto users should 'take responsibility and avoid scams such as those that give out free tokens in return for your private keys or social security number.īut why would someone need your private keys if it wasn't a scam? This shows how scared he is about losing money because people are not careful enough online. Binance CEO Changpeng Zhao said that his company would never censor anyone on its platform. Binance is trying to build a decentralized exchange to remain censorship-free. It's no secret that the government is censoring centralized exchanges, and they're censoring their customers. Instead, Binance has chosen to focus its resources where needed most: providing liquidity within its ecosystem by adding new assets onto its native chain. Having hundreds of coins available at any time would be counterproductive since there will be no liquidity in most markets. It's important to note that building an exchange where users can trade in every possible coin pair isn't necessary when your entire focus is centralized exchange anyway. However, it's a platform for exclusively trading on the Binance chain. This feature is not available on the Binance dex, which is not a cross-chain trading platform. For example, if you have Bitcoin and want to buy Litecoin, you can't do this without cross-chain trading because they don't exist on the same blockchain. Binance has grown exponentially and become one of the most popular exchanges out there, with good reason.Ĭross-chain trading is a feature that allows you to trade different cryptocurrencies on different blockchains, to put it simply. The largest multi-language, multi-currency platform offers to pair between crypto and fiat currencies. Check out how bitcoin helps the poor.īinance is a cryptocurrency exchange. They want people worldwide to have access to it as soon as possible. But Binance is determined to create their DEX regardless of cost or effort because they believe in their product. It's no secret that using an off-chain solution wouldn't solve the slow speed issue, but would it make things better? Building a DEX is hard work because it requires a lot of technical knowledge and programming skills. It can be frustrating to wait for your favourite exchange or, even worse, a cryptocurrency wallet to send funds from one place to another.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |