Binance is working hard on a decentralized trading platform

Trading platform Binance has officially announced that it is currently working on a public blockchain. The intention is to use this blockchain so that they can start a new decentralized trading platform. Binance already has its own crypto coin, namely Binance Coin (BNB). This coin will support the new blockchain in the new story of the decentralized operation.
You can safely say that this is big news since Binance is the largest exchange based on daily trading volume. At the moment the trading platform is working with a 'third party' that is responsible for the centralized fund in which all coins of all customers are 'tracked'.
This will therefore be different with the newly decentralized platform that they will set up. To achieve this, the 'Binance Chain' will be developed. This chain will be used for the transfer and trading of assets that will be linked to this new blockchain.
At Binance they are convinced that it is necessary to continue to innovate in this technology. Continuous improvement is the message here because there is a bright future for blockchain. There are more and more applications that can benefit from this technology.

Decentralized

A decentralized platform is very different from a centralized platform. At the moment we are working with a 'third party' that manages a fund in which all of the customers' coins are kept. With the new system, customers will be able to trade directly with each other without the use of a central server or a central fund, but with personal wallets.
It is also a solution to the ongoing threat of being hacked. Crypto exchanges that work with one central fund are an attractive target for hackers.
The advantage of such exchanges is that they are much more difficult to hack. Moreover, they are also much more anonymous. However, investors who are new to the world of crypto will have more trouble with it because decentralized exchanges are less intuitive and less user-friendly.