The chief executive officer and founder of the world’s largest cryptocurrency exchange – Binance, revealed that their upcoming decentralized exchange will support hardware wallets from the very beginning.
Binance Chain to Support Hardware Wallets
In December 2018, the CEO and founder of Binance – Changpeng Zhao, revealed that they are about to launch Binance Chain “very soon”.
While the project hasn’t seen daylight yet, the CEO posted an update on Twitter just today:
Binance DEX will support hardware wallets from day one of launch. So that you can be sure your private keys never leave your device. – Tweeted Zhao.
According to a previous official release, Binance Chain is going to be a decentralized exchange which will focus on the trading and transfer of blockchain assets.
In December, Binance released a video which demonstrated the trading interface of the decentralized exchange, alongside a cryptocurrency wallet and the explorer for the native public blockchain.
The video reveals that the future decentralized exchange is going to have a very similar interface to the currently existing centralized one, but adding some features to it.
Changpeng Zhao: “There is No Absolute Decentralization”
In July, Changpeng Zhao responded to Vitalik’s Buterin comments regarding centralized exchanges. The latter said that he hopes they can “burn in hell”.
In his response, Zhao said that “there is no absolute decentralization”:
There is no absolute decentralization. Projects with core teams still have centralization. Today, Vitalik probably has more king-like powers than anyone else in the industry and has used it, by serving as an advisor for projects, therefore helped to decide their fate, at least fate of their ICOs to a large extent.
Furthermore, Zhao has also said that “decentralization is not safer by default”, pointing out the case with Ethereum (ETH) and Ethereum Classic (ETC).
Do you look forward to Binance Chain? Let us know in the comments!