The Launch of Exchange Blockchains in 2020

2020 will be the year when blockchains of other centralized exchanges will also reach the mainnet stage and will try to gain popularity.

With the growth of the DeFi sector, this will become even more important as exchanges can significantly increase the influence on the market and raise the exchange profits.

Their blockchains may successfully compete with current public blockchains due to the large user base, developed ecosystem and resources, which will further strengthen their place in the cryptocurrency market.

Let’s take a closer look at what exchanges have achieved now and what to expect from them.

Binance

Binance mainnet was launched on 4/23/2019 2:00 AM (UTC).

Binance Dex is currently a market leader among decentralized exchanges with a 30d volume of $31,893,787.

There have also been several token sales on the Binance Dex, but the current average ROI of tokens is below the sale-price.

Binance Chain is home to 1003 projects, according to explorer which represents a massive number of tokens stemming from a large adoption.

Projects are looking to move their tokens to Binance Chain to get the possibility of being listed on the main exchange or to get some kind of recognition.

Larger projects seek to develop joint projects and innovations with the support of Binance Chain.

Huobi

Huobi Chain is architected by Nervos. Huobi’s high-performance public blockchain will be optimized for a wide range of financial services and applications, including lending services, debit services, stablecoins, security token offerings (STOs), decentralized exchanges (DEXs), real-world payment services, and more.

Huobi Chain will also offer multi-asset support, smart contract capabilities, and multi-and-sidechain architectures to provide enterprises with a highly flexible and scalable framework. The Huobi Chain claims to be the first blockchain that is completely compliant with the law.

It’s current code is open source and available on Github.

Bithumb Global

Bithumb Global announced plans to create its own chain and wants to create a whole “Value system”.

Bithumb Chain will enable the transfer of value, the flow of information and integrate business verticals among the blockchain ecosystem. Once up and running, the Bithumb chain will offer benefits including Exchange-as-a-Service (EaaS) and a profit-sharing protocol.

OKEx

On 11/12/2019, OKEx CEO Jay Hao has announced in an AMA the production of OKChain and its decentralized exchange OKDEX. OKChain is a self-built blockchain infrastructure that is in the final stages of testing.

The OKEx exchange intends to use the blockchain to help the “unbanked by providing them basic financial services.”.

Decentralized exchange, OKDEx, will be developed as a supplement, rather than a replacement, to existing products, according to recent report.

OKChain will be developed on Cosmos SDK to build a secure and efficient Defi ecosystem, optimizing blockchain solutions for different financial applications.

OKB will be the basis of OKChain. The fundamental function of OKChain will be payment services. The stablecoin USDK co-offered by OKLink and PrimeTrust will be also added in the mainnet.

First DeFi application will allow users to access a shared order book and order matching system on-chain.

Other Defi applications, such as BTC cross-chain, decentralized lending products, derivatives trading services can also be implemented.

However, no data has yet been made publicly available.

Gate

Gate has successfully launched its testnet Gatechain on September 30 and released the wallet. GateChain eco comprises GateChain mainnet, GateChain DEX, GateChain Token (GT), wallets, etc.

Gatechain solves security issues such as losing private keys and assets being stolen. It also supports decentralized trading and cross-chain transfer among other core applications.

The main features of the GateChain eco according to a report will be transfer/payment, asset issuance, decentralized cross-chain transaction, asset safe storage, multi-signature and POS staking reward.

Thus, we see that exchanges are going to offer a wide range of services in the field of DeFi.

Each blockchain will have its own characteristics and competitive advantages, which will build an ecosystem around the exchanges.

And we should see the results of their launch as early as 2020.