1 Level
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20 Karma
Review on Binance Coin by zet david
Binance created their own proprietary trading engine that is currently capable…
Binance created their own proprietary trading engine that is currently capable of processing 1.4 million trades per second. That’s far faster than any other cryptocurrency exchange currently, and explains why so many traders have made the switch from other exchanges to Binance.
Pros
- The Binance exchange is like most other cryptocurrency exchanges in that it allows its customers to exchange one cryptocurrency for another. It uses a custom matching engine to match buyers and sellers at the requested prices. Once the trade is processed, each customer receives what they want, and Binance receives a small fee for providing the matching and exchange service. This is how an exchange makes a profit.
Cons
- The problem that cryptocurrency exchanges began running into in 2017 is that they couldn’t keep up with the number of transactions as cryptocurrencies became increasingly popular. This led to delays in transfers, and lost orders, or bad prices for customers. Someone needed to fix the issue, and Binance has created its overwhelming success by doing just that.
