Binance CEO Announces Testnet Release Date for Decentralized Exchange


Changpeng Zhao (CZ), CEO of cryptocurrency exchange Binance, has once again kicked a hive nest as the buzz from the crypto community rises due to recent opinion pace on the merits of centralization and decentralization, which was published ahead of the launching for Binance DEX, a semi-decentralized cryptocurrency exchange.

The launch date for a testnet version of its upcoming decentralized exchange was confirmed by CZ through twitter, stating it will be on February 20th.

With its plans originally appearing during the previous year, Binance DEX main goal is to provide a decentralized basis for cryptocurrency holders to trade tokens, removing liability and security hurdles associated with traditional, centralized platforms.

The testnet will be conducted publicly, with CZ requesting feedback from users made in the same tweet that announced the upcoming testnet.

This date coincides with previously made announcements with even more details about Binance Dex, which is said to include support for cryptocurrency hardware wallets. This feature will allow users to trade while retaining control over their private keys.

Promises of a testnet occurring originally circulated the net during December, with Binance since launching an over-the-counter desk for large volume traders and other expansion features. During the time of Binance Dex announcement, CZ further stated that he anticipated it to either run in tandem with the original Binance platform or even replaced the whole thing altogether, depending on the reaction from the market.

“Initially, we want to try to be more centralized that way. Compared to other networks, we’ll have a little more influence. I think it’s important for us to maintain that influence in the early stages. As time goes on, more and more validators are going to join, and our influence will decrease,”

 


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Keith Wang

Keith Wang is a writer and programmer specializing in bitcoin and blockchain technology. Keith has been a long time believer of bitcoin and blockchain technology and spends his free time following up with blockchain news. You can contact Keith at keith@cryptomenow.com

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