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Binance CEO Zhao Announced Testnet Release for its DEX on Feb 20

Zhao - Binance will be going to launch a testnet version of its decentralised exchange on February 20

World's largest Cryptocurrency exchange by the adjusted volume Binance will be going to launch a testnet version of its decentralised exchange on February 20, Binance Chief Executive officer CEO Changpeng Zhao confirmed it with his tweet on February 12.

Zhao tweeted that the testnet release will be public and he also requested feedback from users in the same tweet .

Binance will release public testnet of Binance Chain, which is the native public blockchain being developed to support the decentralised exchange DEX.

Binance DEX works very similar to bitcoin,” as per Zhao. “So every transactions are transparent. There is no hidden transactions or private transactions.” It will be available on all operating systems which includes Mac OS, iOS, Windows, Linux, and Android, as per the AMA. It will also include support for cryptocurrency hardware wallets like ledger Nano S etc. which will allow users to trade with their own control on their private keys.

You will require to pay a listing fee around $100,000 for tokens listed on Binance Decentralised Exchange – he said the high fee is set to reduce the number of “spam or scam projects from the exchange.”

The idea of Binance DEX first was emerged last year with the aims to give a decentralised basis for cryptocurrency users to trade coins & tokens, removing liability and security hurdles linked with centralised platforms.

In the Ask-Me-Anything AMA on twitter , Zhao said: The BNB Binance Token also plays a very important role

“Binance Coin on the Binance Chain is the same as the Ethereum coin on the Ethereum network. You will have to use it to pay for network transactions, as gas.”

With such news and development by Binance, its BNB token hit new all-time high against bitcoin. 


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