What is Binance DEX? What is Binance Chain?

What is Binance?

The name Binance is a Combination of Binary and Finance.

Binance is one of the popular cryptocurrency exchanges that initially offered a centralized platform for trading 100+ cryptocurrencies. From 2018, Binance exchange is the world's biggest cryptocurrency exchange in terms of global trading volume and users.

What is Binance DEX?

Binance DEX is a Peer-to-peer protocol of Binance running on Binance Chain that allows users to exchange cryptocurrency directly without the involvement of admin.

The notable benefit of Binance DEX is its matching system as it is created on a high power blockchain medium " Tendermint Core " with 1sec block time. This provides speed as same as centralized exchanges.

Key Features of Binance DEX 

The key aspects of Binance DEX platforms are as follows :

1. Private keys are under the control of users
2. Decentralized order book
3. Matching mechanism with 1 sec block time

These three factors can take the binance and crypto market to the next level.

What is Binance Chain?

The latest iteration is called Galileo — v.0.6.0 — as announced by Binance on July 15.

"Binance Chain is a very simple chain in terms of application, but it can handle very large loads. It is our opinion that the load is more important than the features". - Binance CEO Changpeng “CZ” Zhao.

The Binance Chain is a core technology of Binance DEX with which it can make trade volume as like Binance centralized platform. You can not mine crypto coins on Binance Chain, Instead, tokens can be created.

Checkout the highlights of Binance DEX at  What is Binance DEX and Binance Chain ?