My understanding of Binance Dex is that it is non-custodial on a proprietary chain. Pretty much like saying “You hold your own cash, but the Police can come and seize it whenever”. Not what I would call a DEX.
However, they just announced they want to develop a parallel chain (“Binance Smart Chain”) which would support Smart contracts:
Could anyone with sufficient technical knowledge - ideally Nash team - explain what this means and how it compares to Nash’s current approach?
Without reading too much into it, I don’t see how it’d allow Binance’s DEX to have better speed or security than Nash’s state-channel matching engine (they still need to wrap BTC or any other chain to integrate). Interoperability != performance &/or security.
Binance dex and the binance chain is decentralised, but would stop to be developed and function if binance would disappear, so does that make it really decentralised and to be relied upon?
People have to realise binance got many projects build on its chain simply by making attractive offers for projects to pay less of a listing fee and other good things. Without it, binance would probably have near zero adoption. Every company with billions can force adoption like that.
Regarding the smart contract, you should rather ask the question of the difference between neo, ethereum and binance, instead of comparing it with nash.
However BNB- binance’s token stays a usage for the binance DEX, this didn’t change.
What is new? You can now stake BNB to validate transactions on binance’s chain, and the smart contracts that can be used cross chains with neo and ethereum allow easy swaps using the dex of binance, giving them more liquidity and usage.
So in a smaller sense, this also helps binance DEX evolve.
Atomic style swaps? or will the DEX offer better performance than atomic?
atomic is quite a broad word. easiest to say is that it support swaps and uses the dex for it. About performance i have no idea.