Topic: binance dex different from other dex exchanges? (Read 239 times)
If talk about function, i think nothing different binance dex and other dex exchange. But if talk about volume binance dex will defeat other dex exchange, maybe not now but in the future for sure, with binance popularity, i think will be the best dex
AFAIK this should be the most important feature :
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The main advantage of Binance DEX is the matching system. Binance DEX is created on a high powerful blockchain engine "Tendermint Core" with one-second block times, that provides the speed, which is also the same to centralized exchanges.
and think binance chain is practical. In other dexs the main issue is that it works slower, looks Binance already solve it. why are developers aiming for binance dex when liquidity is still the biggest problem of dex exchanges? Apart from the big name 'binance' what did the dex have to offer that's different from other dex exchanges?I don't see any difference,do you?
Obviously, it is. There is no chance to stay anonym with Binance DEX. If I use Binance and Binance DEX in the same PC or mobile, they can easily connect my IP with Binance.com and Binance DEX.
So there is no way to stay decentralized completely.
Binance DEX is only riding on the glory of Binance CEX. Else, it would have much of the problem of volume like other DEXes. Even at that, there are certain coins on it that lack volume.
Since it just got lunched, not too long ago, if certain developmental works are done on it, it might attract more traders, which invariably means more volume.
Since it just got lunched, not too long ago, if certain developmental works are done on it, it might attract more traders, which invariably means more volume.
why are developers aiming for binance dex when liquidity is still the biggest problem of dex exchanges? Apart from the big name 'binance' what did the dex have to offer that's different from other dex exchanges?I don't see any difference,do you?
Binance dex is not a decentralized exchange. I don’t understand why they chose this name, because this exchange has nothing to do with ordinary decentralized exchanges. Sometimes it seems to me that they mislead their customers. Therefore, I do not trade on this exchange.
why are developers aiming for binance dex when liquidity is still the biggest problem of dex exchanges? Apart from the big name 'binance' what did the dex have to offer that's different from other dex exchanges?I don't see any difference,do you?
When it comes to dex exchange, they usually have the same similar features and similar way of operating and aside the developer being a scam which usually distinguishes them , I think all dex exchanges are virtually same and would not see anything different that Binance dex has to offer other than the ones other dex exchanges are offering already. Look at okex and Binance dex, you will see that they run virtually same way and I think that name is what Binance is just trying to use to make its dex topple other dex, but they will still be faced with volume issue and less interest of people in it. I have even heard of some few people talking of Binance dex as a failure but I cannot judge based on that because I have not used their dex before to know what they are talking about.
From my own point of view, Binance DEX has an awesome user interface compared with others. In terms of speed, it outperforms all other decentralized exchanges I've used. The fees are low too when using BNB for fees, and there are options to utilized other tokens for fees. Also, some team members believe that listing on Binance DEX will give them an edge to list on Binance (centralized exchange) in future, maybe through the community vote or close ties formed with Binance. Another good aspect about Binance DEX is that you can access it swiftly through Trust wallet. Talking about liquidity issues, for now it's yet to hit an outstanding benchmark.
Its the brand of Binance that project developers are after and will be glad if their project wil lbe listed in it since there is a perception of integrity and liquidity once a project / token is on Binance Dex. Furthermore, Binance has certain requirements for listing and only most likely accept projects with certain quality so in effect having the image of a reputable DEX. Imho.
Yep must be the brand. When you hear a token listed in Binance, its usually a big project. I do hold a coin where the team was also aiming for binance dex, to get listed the project just need more votes from the community and validators from binance will soon check to approve but this isn't as easy though. I think when a coin is listed in in Binance DEX, they'd have higher chance of getting listed on the real Binance.
Its the brand of Binance that project developers are after and will be glad if their project wil lbe listed in it since there is a perception of integrity and liquidity once a project / token is on Binance Dex. Furthermore, Binance has certain requirements for listing and only most likely accept projects with certain quality so in effect having the image of a reputable DEX. Imho.
I have not used Binance DEX. But the possibility of trading coins is too limited as it is limited to BNB tokens. I have tried Stellarport for XLM or xbts.io for BitShares. They are well made DEX exchanges.
BitShares permits the trading of coins not native to BitShares with Gateways proposing thoses assets. The volume of trading is not the best, but it is not too bad.
TRXMarket is not bad too for trading with TRON. It is integrate into the TronLink wallet, but it accepts only TRON tokens and there is USDT token for TRON.
BitShares permits the trading of coins not native to BitShares with Gateways proposing thoses assets. The volume of trading is not the best, but it is not too bad.
TRXMarket is not bad too for trading with TRON. It is integrate into the TronLink wallet, but it accepts only TRON tokens and there is USDT token for TRON.
Indeed, there may be a difference.
If Binance blockchain is still permissioned, the operation of this blockchain is controlled by a single company to a large extent.
So Binance "DEX" is not a decentralized exchange in the sense that transactions on it would be undisputably resistant to censorship or immutable.
Better term would be non-custodial exchange.
Quite valuable kind of exchange, because it will certainly make life difficult for hackers.
If Binance blockchain is still permissioned, the operation of this blockchain is controlled by a single company to a large extent.
So Binance "DEX" is not a decentralized exchange in the sense that transactions on it would be undisputably resistant to censorship or immutable.
Better term would be non-custodial exchange.
Quite valuable kind of exchange, because it will certainly make life difficult for hackers.
why are developers aiming for binance dex when liquidity is still the biggest problem of dex exchanges? Apart from the big name 'binance' what did the dex have to offer that's different from other dex exchanges?I don't see any difference,do you?
I think it has a huge difference in terms of volume,security and Binance DEX user interface is looking good too compare to other DEX competitor in the market. thats why Binance DEX is more attractive than other DEX for me thats the difference. 
why are developers aiming for binance dex when liquidity is still the biggest problem of dex exchanges? Apart from the big name 'binance' what did the dex have to offer that's different from other dex exchanges?I don't see any difference,do you?
Binance Dex having an amazing UI, has some features that stands it out from the rest.
Firstly, they have the cheapest fees among DEX, i.e. when you pay in BNB.
And even if you don't have BNB, you can pay the fees in almost any currency. While most of the DEX are either specific to Ethereum network or other similar platforms.
yes you're right, this is what distinguishes DEX binance from other DEX. from UI and fees, Binance is far superior. and for trading volume in Binance DEX is also quite large, even though he is a new DEX.
The first thing is Binance is the top exchange in the crypto market. Most decentralized exchanges interfaces are not looking good and take longer to load. The Binance DEX has solved that problem. The traders can use the carts and indicators smoothly in Binance DEX. Another thing is Binance DEX can have decent volume.
Every decentralised exchange is based on a coin. When you look at Forkdelta or IDEX exchange, you would probably mention that they have only ERC-20 tokens. Binace has launched a DEX for tokens that are based on BNB.
why are developers aiming for binance dex when liquidity is still the biggest problem of dex exchanges? Apart from the big name 'binance' what did the dex have to offer that's different from other dex exchanges?I don't see any difference,do you?
Well there are few dexes and most have fantastic volumes and liquidity
If you check through forkdelta, etherdelta and idex for example;’it’s fantastic
Idex has made the platform even more easy to use; while with metamask, forkdelta and etherdelta because more convenient to use.
Binance Dex is a combination of easy and convenient to use; with good hype and popularity
I remember watching one of CZ's live AMA where he says something like he believes in "decentralization" and it's the way to go.
Obviously, CZ is also aware of the liquidity issues faced by all DEX's before the team started Binance DEX. That means they already have a plan in place and I think the differences mentioned in the first comment are just the tip of the ice berg.
Obviously, CZ is also aware of the liquidity issues faced by all DEX's before the team started Binance DEX. That means they already have a plan in place and I think the differences mentioned in the first comment are just the tip of the ice berg.
why are developers aiming for binance dex when liquidity is still the biggest problem of dex exchanges? Apart from the big name 'binance' what did the dex have to offer that's different from other dex exchanges?I don't see any difference,do you?
Binance Dex having an amazing UI, has some features that stands it out from the rest.
Firstly, they have the cheapest fees among DEX, i.e. when you pay in BNB.
And even if you don't have BNB, you can pay the fees in almost any currency. While most of the DEX are either specific to Ethereum network or other similar platforms.
why are developers aiming for binance dex when liquidity is still the biggest problem of dex exchanges? Apart from the big name 'binance' what did the dex have to offer that's different from other dex exchanges?I don't see any difference,do you?
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