Testnet Release Date for Decentralized Exchange Revealed by Binance CEO

Article by · February 12, 2019 ·

CEO Changpeng Zhao tweeted on Feb. 12 that a testnet version of the cryptocurrency exchange, Binance’s new decentralized exchange will be launched by  Feb. 20.

The plans of Binance DEX which initially came last year is targeted on the provision of a decentralized basis for cryptocurrency owners to transact tokens, eliminating liability and security challenges linked to traditional, centralized networks.

The release of the testnet will be public, with Zhao demanding response from users in the same tweet today.

The date was set after the last announcements with more information regarding Binance DEX, in which support for cryptocurrency hardware wallets will be included. Earlier this month, Zhao stated that the feature will enable trading to be done by users as the control of their private keys are being retained.

There had been news about Promises of a testnet since December, with the introduction of an over-the-counter desk for large volume traders and other expansion features by Binance.

Zhao noted at the time of the announcement of DEX that he is expecting it to operate either in tandem with the original Binance platform or even totally change it, based on the on reactions of the market.

Confirmation by a company spokesperson in January noted that Binance is also making arrangements to make expansions into a minimum of two new markets in 2019.

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