Binance Releases New Video Demo of its Decentralized Crypto Exchange

Binance, the world's largest cryptocurrency exchange by adjusted trading volume, has released a new video demo of its decentralized exchange, dubbed Binance DEX, ahead of its launch in early 2019.

Demonstrates the trading interface of Binance DEX, along with a web crypto wallet and the explorer for Binance's native public blockchain, Binance Chain, which the firm says will be made available on a testnet soon.

Based on the video, Binance DEX will have a very similar interface to its existing centralized exchange, with some additional features.

With the blockchain explorer, users can search for an individual block and view transactions included in a particular block, the demo explains.

"User funds on the DEX will be secured with decentralized wallet applications like Trust Wallet, which has a server-free infrastructure that stores private keys only on the user's device, meaning only users have access to their funds," Binance said in a statement on Wednesday.

Binance DEX is built on its own Binance Chain, which was first unveiled.

In March of this year and is aimed to offer "Low latency, high throughput trading, as well as decentralized custody of funds."

With the DEX, traders will be able to send and receive Binance's own BNB tokens and other coins via trading pairs, Binance said, adding that while BNB is currently an ERC-20 token, it will soon be migrated to Binance Chain upon its mainnet launch.

The first video demo of Binance DEX was released in August, which outlined via a command line interface the basics of issuing, listing and trading crypto assets.

A plan to evolve into a standalone decentralized exchange, offering funding for developer assistance in creating an open-sourced blockchain protocol.