Binance’s new blockchain and decentralised exchange enter public testnet phase

Binance, the world's largest cryptocurrency exchange, has announced that two of their newest products are now available in a public testnet phase, Forbes writes. Users have just gained access to a highly-anticipated decentralised cryptocurrency exchange, Binance DEX, powered by the firm’s new blockchain, Binance Chain.

“Binance Chain has near-instant transaction finality, with one-second block times,” said Binance CEO Changpeng Zhao in an interview with Forbes. "This is faster than other blockchains today. With the core Binance Chain technology, Binance DEX can handle the same trading volume as Binance.com is handling today.” 

Zhao noted that the new release could overcome the issues of most decentralised projects on the market, which tend to fall short of expectations when it comes to speed and power. The new platform will also focus on making the experience as user-friendly as possible. “We are still figuring out some functions as we go and will be asking traders for feedback on the testnet, in order to iterate and improve on it quickly,” said Zhao.