Binance known for its cryptocurrency exchange is on another mission, this time it’s the much awaited Binance Chain.
Binance’s CEO Changpeng Zhao known as CZ in the crypto world made an announcement through Youtube about Binance Chain out as a demo much before than expected. It was expected to release two months from now, however they are well ahead of schedule.
What does the Binance Chain do?
It allows tokens to be created and listed on the decentralized exchange along with being traded against other tokens in the exchange.
In the demo video you will notice coding being done live creating a token. This follows through with the listing of the token on the decentralized exchange with the name,price of the token and supply of the token.
An order book is easily accessible after it is created and listed which makes Binance chain a easy to use and detailed platform.
The demo looked perfect with even a purchase being done of the created token successfully. Looks like the Binance team is one step ahead of the game.
The video ends with CZ concluding,“There is still ton of work to be done to turn it into a final product, and the team is working aggressively.”
A lot of questions were not answered in the video, such as ‘whether it was a solo chain?’ however as CZ says “Stay tuned for more updates!”