Binance Proposes a new Decentralized Exchange
Binance’s new blockchain which will be its own decentralized exchange could be just what the decentralized world needs. I am actually not a fan of a decentralized exchange as it really means no one is responsible for your losses and in fact more scams have happened on the more famous ones like Etherdelta. One look at most other decentralized exchanges just screams insecure and scam to me.
So this is where Binance comes in as a trusted central exchange. Centralization is not always bad so long as the person or team behind is trustworthy and conversely as we’ve seen with Etherdelta the opposite applies.
Binance has a real shot here of being the top player in cryptoexchanges.
I’ve found Binance to be easy, safe, and honest for an exchange. If they apply this to their new blockchain for decentralized exchange trading it could be a huge winner.
We must always remember it’s not so much about the technology but about the integrity, intention and ability of the team behind it.
I am still hesitant on decentralized exchanges because of rampant losses and scams, but if anyone can do it right I bet it will be Binance. Time will tell but this is exciting to me.