Binance just offered its users an in-depth sneak peek of its forthcoming decentralized exchange (DEX). Announced in March of 2018, the decentralized exchange will be built on Binance’s own Binance chain, the soon-to-be base layer for BNB, Binance’s trading currency that is currently an ERC-20 token.A December 4, 2018, YouTube video posted by Binance’s official channel showcases the work the Binance DEX has undertaken on the project since its last update.Displaying the exchange in a testnet view, a representative from the Binance DEX team gives viewers a rundown of its main features: its web wallet, reading interface and built-in block explorer. The DEX, he reveals, will be available for users to trial “on a testnet soon.”The developer opens the presentation by demonstrating the DEX’s wallet function. So far, it houses two options, allowing users to create a new wallet with a store file and password or by generating a mnemonic (a.k.a seed) phrase.In addition to these two, more options are in the works, the representative promises, though it’s unclear what form they will take (such as a hardware wallet or MetaMask integration, which are popular options for other decentralized exchanges). Keeping with a DEX’s promise to give coin holders control over their funds, users will be able to export their private keys from the exchange. The video then dives into the exchange’s actual trading interface, which is a ...
