On Thursday (February 7th), Changpeng Zhao (also known simply as “CZ”) held his first Q&A session on Periscope. This article features the main highlights, including his comments on Binance Chain, Binance DEX, Bitcoin ETFs, decentralization, Ripple, and XRP.

Binance Chain and Binance DEX

Q: How mny validator nodes will Binance Chain run?

A: “I think for the testnet, we elect to run 11 test nodes. I think any number is fine. The number of validators in our network will be small, mainly for performance reasons. So, it will not be as big as a Bitcoin network with thousands of nodes. It’s going to be more like NEO or even Ripple… Smaller number of nodes, and each node will be rather large. “

Q: Where does the gas and fees collected by the nodes go to?

On Thursday (February 7th), Changpeng Zhao (also known simply as “CZ”) held his first Q&A session on Periscope. This article features the main highlights, including his comments on Binance Chain, Binance DEX, Bitcoin ETFs, decentralization, Ripple, and XRP.

Binance Chain and Binance DEX

Q: How mny validator nodes will Binance Chain run?

A: “I think for the testnet, we elect to run 11 test nodes. I think any number is fine. The number of validators in our network will be small, mainly for performance reasons. So, it will not be as big as a Bitcoin network with thousands of nodes. It’s going to be more like NEO or even Ripple… Smaller number of nodes, and each node will be rather large. “

Q: Where does the gas and fees collected by the nodes go to?

A: “Yes. We are still working on a lot of new features for Binance.com. A lot of features are missing. Once you have a product running, it’s never done. OCO [One Cancels the Other] is a feature that’s requested very heavily from many of our users. So, we are working on that. We want to support OCOs natively in the matching engine.”

Q: Any plans to allow margin trading?

A: “In the future, we do plan to allow margin trading, but it may take a little while.”

Decentralization

Q: Is crypto truly decentralized?

A: “On decentralization, most people view that as a binary thing, is it decentralized or not. But the reality is that decentralization is a gradient scale. So, there’s a degree of decentralization you can achieve. Some blockchains are more decentralized, some blockchains are more centralized. Any blockchain that has a clear development leader or team, they are more or less centralized in some way. So, Binance Chain is a going to be a little more centralized initially in that way.”

Bitcoin ETFs

Q: Any thoughts?

A: “If it [a Bitcoin ETF] is listed on a big traditional exchange… that does bring in a lot of attention from people outside our industry. I don’t think ETFs are core to our industry’s growth. With or without them, our industry will grow. I think for our industry to grow we need more entrepreneurs to build real projects.”

QuadrigaCX Exchange

Q: What do you think about the QuadrigaCX Exchange exit scam?

A: “I don’t really want to comment on other exchanges, but there’s something fishy going on.”

Ripple and XRP

Q: Any plans to become a Ripple partner by using xRapid?

A: “There’s nothing going on right now, but in the future, we definitely want to add them as a partner.”

Q: Will there be more XRP quote pairs?

A: “We already added XRP as a base currency. So, in the future, we will look to add more quote pairs, but we want to make sure that every pair we add has decent liquidity.”

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