the Binance DEX is testing, we need speed up
First you need to knowthat Binance DEX is NOT a DEX
Some explanation can be find here (skip to 4.20 minute)
Doesnt matter if its true dex or not… whats important is 1 second block time and 1 confirmation
and more important Binance got 10million users ready to get their hands on DEX.
So it will be a successful product, no matter if we hate it or love it
As long as binance stay with their CEX solution only really interested people will use their DEX solution. The liquidity will stay at the CEX. They have to shut down their CEX to bring the DEX in the front. I don’t have the feeling this will happen in the upcoming weeks or months.
People who are interested in the binance DEX will know about the DEX from nash. A lot of Twitter posts from Binance or CZ get comments where nash is mentioned.
In my opinion the question is: Will nash convince the users that their solution is better than other solutions?
I don’t really see the purpose of Binance DEX. You have pegged tokens on it, so you still need to rely on a centralized platform to switch between pegged and real tokens. How is that better than just using a CEX?
Total market potential for decentralized finance is much bigger than Binance. No need to compare. No need to speed up.
Let people experience Binance DEX first. Nash will be named ‘next generation DEX’ even more after.
EDIT: If you are interested into going to war; read this paper and realise Nash is the weak.
(Did not read this line by line. Only trying to make a point here…)
most members dont even care on what tech it is build on… they just want to trade while having control over keys.
But what is the point of controlling private keys for some pegged coins? And some central platform still controlling the private keys for the real coins?
That it works good enough. Most traders won’t know or don’t care about the mechanics behind it (yet).
if i get good liquidity for the coin I trade and I can control my keys… than I dont care if its pegged or non pegged coin.
Even if the centralized platform holding the real coins gets hacked and loses the real coins, making the pegged coins worthless? Or the centralized platform issueing the pegged coins deciding to stop this service and dissapear with all real coins? I really fail to see how holding the private keys of a pegged coin (which requires a centralized platform to trade between pegged and real coin) is any improvement to using a CEX.
you’ll care when it gets hacked.
Then why are you here?
we need not only holder to be here