The 5 Best Decentralized Cryptocurrency Exchange in 2021


3. Binance DEX

On top of the Binance Chain, an upcoming blockchain that will allow the native token BNB of Binance to move away from Ethereum to its native way, Binance DEX will be created.

The chain is built on top of the Tendermint protocol of Cosmos; more precisely, to create a scalable product that can achieve high transaction throughputs required by Binance standards, Binance forked the protocol and removed some of its elements (smart contracts, for example).

You could potentially regain access to your funds even without the private key. This does place lots of control over your funds into the hands of a third party, which is the complete opposite of what a proper DEX should do.