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Community

Enjin Wallet Update: Binance Chain & DEX Support

Enjin | 06.03| 219

You can now monitor and manage infinite Binance Chain addresses, add BNB assets, and will soon be able to place orders to Binance DEX’s on-chain order books—without leaving the Enjin Wallet’s secure interface.

Download the Enjin Wallet on the App Store and Google Play.

We are delighted to announce another Enjin Wallet update that brings Binance Chain support to your favorite blockchain vault, with Binance DEX integration soon to follow.

Binance Chain is a new blockchain and peer-to-peer distributed system initially developed by Binance and its community.

Powered by the core Binance Chain technology, Binance DEX is a modern, decentralized marketplace for issuing and exchanging digital assets. With Binance DEX, Binance aims to provide a different balance of security, freedom, and ease-of-use, where users take more responsibility and are in more control of their assets.

“Like Enjin, Binance is a fast-moving, innovation machine — and one that we are proud to throw our support behind through this collaboration and many more to come.”
— Maxim Blagov, Enjin CEO

Create Infinite Binance Chain Wallets

The Enjin Wallet Infinity Update empowered users with the ability to create, import, track, and use an infinite number of ENJ, BTC, ETH, LTC, and ERC-20 wallets.

Three months later, the Collectible Update enabled you to create infinite wallets for ERC-1155 and ERC-721 gaming collectibles.

Now, we’re excited for Binance Chain to join the myriad blockchain assets that support Infinity features — enabling you to create, import, track, and use an infinite number of Binance Chain wallets.

“Enjin is also community- and BUIDL-focused, in line with the Binance Chain spirit. We look forward to working together on more initiatives in the future.”
— Ted Lin, Binance Chief Growth Officer

Organizing your finances is much easier when you can split your funds into different allotments.

Now, you can create a Binance Chain savings wallet, a trading wallet, a business wallet, and unlimited other wallets — all in one streamlined, easy-to-use, extremely secure app.

What is Binance Chain?

Binance Chain is a blockchain initially developed by Binance and their community. The purpose of this new blockchain and DEX is to create an alternative marketplace for issuing and exchanging digital assets in a decentralized manner.

“Binance Chain is a very simple chain in terms of application, but it can handle very large loads. It is our opinion that the load is more important than the features.”
— Changpeng “CZ” Zhao, Binance CEO

When introducing this new technology, Binance described Binance Chain as a public blockchain that “will mainly focus on the transfer and trading of blockchain assets” as well as “performance, ease-of-use, and liquidity” and “provide new possibilities for the future flow of blockchain assets.”

Add BNB Assets

You can now add BNB assets from the list of coins available in the Enjin Wallet.

This means that BNB, along with all new cryptocurrencies and initial coin offerings that launch on Binance Chain will experience the same advanced support the Enjin Wallet has delivered for Ethereum-based blockchain assets.

Binance Chain Mainnet Swap

Binance Chain launched its mainnet and executed the BNB mainnet swap on April 23, 2019. You can learn more about the swap here.

Native Binance DEX Integration

January 2019 brought a long-awaited and highly-requested update to the Enjin Wallet: in-app token exchange. In this case, it meant direct, native integration of not one, but three leading token conversion platforms.

Enjin Wallet Update: World’s First Multi-Swap Support ft. Kyber, Changelly & Bancor

Soon, hundreds of thousands of Enjin Wallet users will be empowered with yet another option — Binance DEX.

The convenient non-custodial trading process offered through Binance DEX integration will allow you to maintain full sovereignty over your funds while exchanging cryptocurrencies, enjoying the highest levels of security possible.

“We are excited to have the support of Enjin Wallet on Binance Chain. Enjin users will be able to transact from wallet to wallet on Binance DEX with full custody over their assets, increasing the level of freedom in the community.”
— Ted Lin, Binance Chief Growth Officer

With native integration of Binance DEX enabled, you will be able to place orders to Binance’s on-chain order books without ever leaving the Enjin Wallet’s secure interface.

“Binance DEX is a revelation. It provides a real exchange experience, allowing users to bid for their preferred rate without ever leaving the Enjin Wallet. This provides our users with an incredibly convenient, secure, and precise trading platform.”
— Maxim Blagov, Enjin CEO

What is Binance DEX?

Binance DEX is a decentralized order-matching engine powered by the core Binance Chain technology, where you hold your own private keys and manage your own wallet.

It was designed to carry over the best features of the current Binance exchange in a decentralized setting, while also offering the benefits and security of a DEX.

A secure, native marketplace built on Binance Chain, Binance DEX allows for the exchange of digital assets that are issued and listed on the DEX. Matching happens within the blockchain nodes and all transactions are recorded on-chain, forming a complete, auditable ledger of activity.

The exchange relies on the core Binance Chain technology and has one-second block times with near-instant transaction finality. As a result, Binance DEX can support similar trading volumes as Binance.com, although it uses a different matching engine.

Binance DEX uses periodic auction to match all available orders, and as the match happens at the same time for all orders with the same price in every auction, it does away with the concept of Makers and Takers.

We believe the Enjin Wallet’s superior features — speed, security, and usability — will result in it becoming the default cryptocurrency wallet for blockchain traders, hodlers, and gamers.

Don’t believe us?

Check it out and see for yourself.

Previous Updates


Enjin Wallet Update: Binance Chain & DEX Support was originally published in Enjin on Medium, where people are continuing the conversation by highlighting and responding to this story.

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