Binance Dex: The Key Features of Binance Dex

Speaking of Binance Dex, the platform is a cryptocurrency exchange that gives a platform for trading different cryptocurrencies. The platform was announced as the largest cryptocurrency exchange in the world as regards trading. The platform permanent base was established recently in Malta, and it has spread into Africa also. In this article, we are going to talk about Binance Dex.

Binance Dex

Binance Dex – What is Binance Dex

The team has made a release of their Decentralized Exchange (DEX) platform on testnet, which will give users access to trade cryptocurrencies and at the same time having full custody of their own funds. The platform DEX is an extension of the main exchange and it makes provision of more options to cryptocurrency traders after the exchange recently launched Binance Uganda and Binance Jersey.

The platform announced the release of their testnet for Binance DEX on February 20, 2019, this plays a major role as a decentralized order-matching engine according to Binance Chain technology.

In a bid to create the DEX, the team working on the exchange formed a new blockchain and peer-to-peer distributed system which is able to view the matching which occurs inside the blockchain nodes with the recording of all transactions on-chain, thereby helping to ensure a complete ledger of activity that can be audited, and users access to exchange the digital assets issued and listed on the DEX.

The Key Features of Binance Dex

The Binance Dex has some major features, we will be giving you some of them below so you can run through those features:

  • Security — The Dex platform does not hold funds, and traders are able to control their private keys. Binance Chain makes use of a Byzantine Fault Tolerance (BFT) and Proof of Stake (PoS) based consensus mechanism that consists of a list of qualified validators, and also uses some anti front running mechanisms to ensure a treading integrity
  • Functionality — The platform DEX makes use of a web-based trading platform, and also a UI that is similar to It also makes sure TradingView charts which have a full range of technical indicators are incorporated. Also, The platform Dex makes it easy for users to create wallets and be in possession of their own private keys, and the Dex also provides another option for software and hardware wallets, and integration can take place with the Trust Wallet and the Ledger Nano S.
  • Customer Support – The platform DEX is accessible to traders in a lot of countries, and the team gives a high level of support. They have made provision of a Github page and also a FAQ section that gives solution to a lot of major issues that needs to be addressed.
  • Technology — The exchange is dependent on the core Binance Chain technology and has one-second block times with almost immediate transaction finality. Based on this, The DEX can give aid to similar trading volumes as, though it makes use of a different matching engine. Binance DEX makes use of a periodic auction to match all the available orders, and as the match takes place at the same time for all orders that have the same price in all auctions, it concept of makers and takers is avoided.
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