![]() Marius Rupsys, a cryptocurrency investor, concurred, describing Binance's new DEX as an "experiment."įor the time being, he is "just watching how it evolves."ĭisclosure: I own some bitcoin, bitcoin cash and ether. While Binance Chain may very well succeed, we need to "wait and see how their DEX actually works," said DiPasquale. Another option to buy the Cross-Chain Bridge Token is through a decentralized exchange (DEX. You can refer to 's Markets section to find the list of centralized exchange the coin is listed on. Only time will tell how successful Binance Chain ends up being, several market observers emphasized.Īs a result, we should sit back and observe, they stated. The most straightforward way is to find a reliable centralized exchange where you can buy Cross-Chain Bridge Token, similar to Binance. So I wouldn’t bet against them making this a success too. Binance has track record of innovating and delivering successfully and have shown agility in their management of regulation and jurisdictions. Saul Hudson, managing partner of Angle42, an emerging technology advisory that has supported both centralized and decentralized exchanges, also spoke to the matter.Ī company with the finances of Binance can throw many more resources at development than the current decentralized players who have faced scaling challenges. "If they can execute on the DEX platform and make it user-friendly, then they have a good chance for it to get traction." "Binance can be successful with its DEX as they have the scale, capital, and more importantly liquidity for their DEX to tap into," he stated. Shone Anstey, executive chairman and cofounder of Blockchain Intelligence Group, offered a similar take. "They have a strong brand and userbase which can support liquidity and BNB usage within the decentralized ecosystem will further enhance its value and consequently price," he noted. "A decentralized exchange by Binance is likely to succeed where others have failed," said Joe DiPasquale, CEO of cryptocurrency fund of hedge funds BitBull Capital. Several analysts agreed with Dorman's assertion, elaborating on their optimistic views. "The biggest question mark is will the Binance Chain be able to offer the same speed and functionality as the Binance Exchange? We think so," said Dorman. Going forward, answering one question is crucial, he said. "They can incentivize market makers to provide liquidity since they already have a huge user base and liquidity pool, they won't be reliant on Ethereum (which solves the speed problem) and they have already proven to be amazing with UI/UX which will allow for a seamless transition for its customers from its current centralized exchange to this new DEX." "Binance Chain can solve for the 3 problems above," noted Dorman. "While there are other DEX's out there, they have all largely failed (or underwhelmed) for 3 reasons: 1) Too slow 2) lack of participants/liquidity 3) Poor UI/UX." "The holy grail for crypto communities since the start of the crypto revolution is decentralization, but to date no one has successfully pulled it off because it's very difficult," he stated.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |