Exchange Binance will start the blockchain 20 Feb

Exchange Binance will start the blockchain 20 Feb

Leading cryptocurrency exchange Binance will launch its own blockchain Binance Chain 20 Feb. Chief Executive officer of the company Changpeng Zhao said that the network will be able to test everyone.

Binance started working on a project to create Binance Chain in 2018. Binance Chain is a public decentralized networkin which will be implemented 3 major functions:

Binance Chain will differ from your competitors with high performance, liquidity and ease of use. The network will operate cryptocurrency exchange Binance Coin (BNB), however, the developers abandoned the idea of creating a smart contract on the blockchain. Therefore, the network Binance Chain will not function the development and application of smart contracts, instead, users will be able to create a new virtual currency and then sell them with a special software interface.

According to Zhao, the public testing of the blockchain will start on February 20. The Director of the exchange said that everyone will be able to test the efficiency of the network, and asked them to send feedback about the functioning of the blockchain. If the phase of public testing will be completed successfully, the company will launch Mainnet Chain Binance. On the basis of core network plan to create a decentralized exchange Binance DEX, which will run concurrently with a centralized trading platform Binance.

In December, Changpeng Zhao together with the company's employees have demonstrated in the video, the main functions of the new exchange Binance DEX and told about the features of the platform. The launch pad is scheduled for the first half of 2019.

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