Topic: Binance DEX is decentralized or not? BNB token will go up or down? - page 2. (Read 452 times)
February 23, 2019, 01:08:34 PM
I believe binance are working on making their exchange fully decentralized which is a good thing and might likely drive the price of BNB token up. Many traders this days prefer to trade on decentralize exchange than a centralized exchange because of being anonymous. People don't want to be monitored on what they do with their money and that's why does that embrace blockchain did in the first place.
February 23, 2019, 12:42:24 PM
Binance decentralized exchange ?? NO bro, binance is centralized exchange the have support to help us, the keep our data, keep our email. so isn't decentralized, But if talking about exchange i prefer centralized than decentralized, And i think many people also choose centralized like Binance, About price of BNB, will increase for sure because backup by binance exchange
February 23, 2019, 12:21:11 PM
If binance comes up with a quality interface that represents newbie and user friendly features with no lagging im sure this will put a huge positive effect on bnb value as well.
February 23, 2019, 12:09:42 PM
Binance DEX is decentralized or not?
I dont believe right now any exchange is fully decentralized. There are many exchanges trying to become decentralized one day. But to achieve that there is need a lot of developing. One of first exchanges that tried that was https://bisq.network/ at that time named Bitsquare. They started developing before 2013. I believe they are most decentralized of all exchanges at this point of time.
Some people said there was no true dex.
There is not. I am telling you. For BisQ I know that is case of dispute solving that dispute is still centralized. But they plan to fix that in future.
considering Binance there was a lot said on twitter: https://bitcointalksearch.org/topic/m.49874446
February 23, 2019, 06:08:56 AM
One more thing is that you do not trade tokens at Binance DEX, but trade b-tokens, at the rate of 1 b token to 1 real token. In order to exchange your b-tokens for regular tokens, you need to come to CEX in any way. This is all done in order to increase the rate of bnb.
Does this apply to all tokens or only to BNB tokens? Is people really required to go through Binance CEX before and after using their DEX? In any case, and based on the information provided in this thread, I would say that their DEX will be just a non-custodial exchange.
February 23, 2019, 05:18:47 AM
those are two difference questions that are somewhat unrelated.
first binance is a centralized exchange and even if they create something and call it DEX it won't be decentralized, it will only have the illusion of it. and if i wanted to use a DEX i would choose one of them that is actually decentralized not this one. but i would continue using the centralized version of their platform which is binance.com website
second is BNB price, it doesn't matter whether their new platform is a DEX or not, BNB can get pumped with the hype alone or it can get dumped as whales take advantage to unload their bags.
first binance is a centralized exchange and even if they create something and call it DEX it won't be decentralized, it will only have the illusion of it. and if i wanted to use a DEX i would choose one of them that is actually decentralized not this one. but i would continue using the centralized version of their platform which is binance.com website
second is BNB price, it doesn't matter whether their new platform is a DEX or not, BNB can get pumped with the hype alone or it can get dumped as whales take advantage to unload their bags.
February 23, 2019, 05:11:18 AM
bnb will go up ofcourse. because of launch pad. when natural demands to binance token will increase for the ico launches, price will increase more and more. bnb is one of the good things to invest.
February 23, 2019, 05:00:54 AM
I hope that more exchanges will follow Binance and they will create decentralized exchange solutions and then crypto will be finally decentralized.
Vitalik Buterin has same opinion about that.
Vitalik Buterin has same opinion about that.
February 23, 2019, 04:52:29 AM
since they are enforcing KYC on nearly all of their users nowadays and also they are under a lot of pressure from the government and that will only increase over time, i am going to say with confidence that what they create is NOT going to be decentralized.
basically every time you see a "company" create something, it can not be decentralized and even if they call it that, it won't make it so.
basically every time you see a "company" create something, it can not be decentralized and even if they call it that, it won't make it so.
The fact that half of Binance Chain nodes will belong to Binance proves that DEX is not quite decentralized. But we will see how that thing will go. Gaining popularity will make some people parse into database the chain records and if something changes shit will float above water anyway. That is some kind of overvwatch. Lets see what the chain will look like.
February 23, 2019, 04:33:38 AM
What does DEX mean? decentralized exchange.lol
I guess Binance DEX will bring a different perspective to the meaning of decentralized exchange. Until now, the decentralized exchange seemed useless, but many things will change if the name is Binance.
I guess Binance DEX will bring a different perspective to the meaning of decentralized exchange. Until now, the decentralized exchange seemed useless, but many things will change if the name is Binance.
Exchange concentrates are not necessarily useless, but they still do not have many advantages over centralized exchange. But Binance is developing a product that has the advantage of concentration and decentralization like Binance CEO said. Also one thing that makes Binance DEX not completely decentralized is that it will charge $ 100k for any coin that wants to be listed on it.
February 23, 2019, 04:30:39 AM
since they are enforcing KYC on nearly all of their users nowadays and also they are under a lot of pressure from the government and that will only increase over time, i am going to say with confidence that what they create is NOT going to be decentralized.
basically every time you see a "company" create something, it can not be decentralized and even if they call it that, it won't make it so.
basically every time you see a "company" create something, it can not be decentralized and even if they call it that, it won't make it so.
February 23, 2019, 04:30:37 AM
I think Binance will give a really high-quality product, and this will be the first exchange that is really convenient for users.
I hope so. The big problem with any dex up until now is that they are not user friendly at all.
February 23, 2019, 04:21:11 AM
Binance DEX is not true decentralized exchange, I would rather say that it is a hybrid exchange.
They want to start with only few nodes and that makes it centralized.
They want to start with only few nodes and that makes it centralized.
February 23, 2019, 04:17:34 AM
I can't believe it that Binance will create complete DEX! I think they want to make a profit from all areas on crypto world. But they won't want to loose control on their platform what ever happens. It names maybe DEX but I don't think it won't.
February 23, 2019, 04:04:19 AM
I think Binance will give a really high-quality product, and this will be the first exchange that is really convenient for users.
Looks like Binance can push another wave of ICO/STO/Other crowdfunding using cryptocurrency if their launch pad will start working the way they plan it.
February 22, 2019, 11:29:44 AM
I think Binance will give a really high-quality product, and this will be the first exchange that is really convenient for users.
February 22, 2019, 11:29:00 AM
Binance DEX is decentralized or not?
I dont believe right now any exchange is fully decentralized. There are many exchanges trying to become decentralized one day. But to achieve that there is need a lot of developing. One of first exchanges that tried that was https://bisq.network/ at that time named Bitsquare. They started developing before 2013. I believe they are most decentralized of all exchanges at this point of time.
The only question is why the trading volume is that low?
https://coinmarketcap.com/exchanges/bisq/
February 22, 2019, 11:24:54 AM
Binance DEX is decentralized or not?
I dont believe right now any exchange is fully decentralized. There are many exchanges trying to become decentralized one day. But to achieve that there is need a lot of developing. One of first exchanges that tried that was https://bisq.network/ at that time named Bitsquare. They started developing before 2013. I believe they are most decentralized of all exchanges at this point of time.
Right. Look at SEC applying fine to the founder of etherdelta. That example showed that everybody is under the gun.
February 22, 2019, 11:24:32 AM
BNB is Binance's coin so it has a good future. Its price continues to rise for a short time. Binance DEX is a new development of Binance but we need differences in the market. We can't say anything when it still doesn't work.
February 22, 2019, 11:23:18 AM
What does DEX mean? decentralized exchange.lol
I guess Binance DEX will bring a different perspective to the meaning of decentralized exchange. Until now, the decentralized exchange seemed useless, but many things will change if the name is Binance.
I don't think non-central exchange is useless. There are a lot of traders participating in decentralized trading floors to hunt for cheap tokens and surf easily. I and more than 20 people in my group are still surfing at decentralized exchanges and it is quite effective.I guess Binance DEX will bring a different perspective to the meaning of decentralized exchange. Until now, the decentralized exchange seemed useless, but many things will change if the name is Binance.
But the problem here is that Binance's security is as certain as it was at the beginning after it was decentralized. Investors believe in Binance because their security system is good, and this decentralized news seems unlikely if it encounters any minor problems.
I think that DEX is useful for more qualified people rather than mass adoption. Remembering way back the flipping activity and also trading for groups that like to stay unknown.
Due to the lack of interface and UI it is not helping mass adoption. Binance DEX is better than what we saw before: loads quicker, interface a bit nicer. But lets be honest which exchange has more users: centralized or decentralized? And the reason is mostly in user friendlyness (in terms of UX and UI) and ability to have orders of varius size being matched. May be Binance will somehow cross match with orders from centralized exchange and that will do it. We will see.
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