According to an official announcement yesterday, Binance, the world’s largest cryptographic exchange with trade volume, has announced that it has developed a public block of chains to create its own undeclared stock exchange.
Binance’s vision that “no-core stock exchanges will be available in the near future” the Blockcha inspired the development of the Binance Blockchain to be used for the transmission and trading of assets. At the same time, the movement will transform the crypto money exchange into a community from a company.
Binchance’s Blockchain also has its own coin Binance Coin Will also host it.
A central stock exchange is different from a central stock market because it does not leave the customer’s money at the mercy of a third party. Users do not need a central server with other users, they do not have a central authority over the order book.
Decentralized exchanges provide more anonymity to users and are difficult to hack. However, they may be less intuitive for buyers and lack the functionality of some of the central stock exchanges.
Binance’s statement about the decentralized stock exchange is noteworthy because it comes after the hacking on March 7th.
Big jump in Binance Coin
The news that Binance will create its own block chain for the decentralized stock market has also significantly increased the price of Binance Coin. The minute the news comes out, the price of BNB seems to be valued at about 30 percent.