Now there is finally a possible release date of the first prototype, which could arrive “within a couple of months”, as Binance CEO Changpeng Zhao has confirmed.
Since March it was known that Binance was working on a decentralized exchange.
It is not known whether the prototype will be public and anyone can do tests or if it will be kept private, used only by a small and selected circle.
But the fact that it can be ready in such a short time means that its development is already well advanced.
Changpeng Zhao confirms that in a decade or so more decentralized exchanges will be able to completely replace centralized exchanges.
Until then, the two technologies (centralized exchanges and decentralized exchanges) will have to live together.
To date, centralized exchanges, like Binance itself, are more efficient, allowing faster trades and higher trading volumes.
However, decentralized ones will give users greater freedom, such as anonymity, and will not force users to keep their tokens on the exchanges themselves.
According to Zhao this will not necessarily give greater security guarantees but will offer greater control.
Moreover, decentralized exchanges will always be slower than centralized exchanges, due to the fact that they have to keep thousands of computers synchronized.
It will probably take at least a couple of years before they can reach speeds comparable to those of centralized exchanges.