Can someone explain in what way Binance could become decentralised? I mean, an exchange will always need a team to run and manage it. How could it be fully decentralised?
They could do something similar to Ethfinex:
https://www.ethfinex.com/ethfinex-whitepaper.pdfPeople who want high frequency trading can still trade on the centralized exchange.
People who want to retain 100% custody of their assets can make trades on the same orderbook with Bitfinex acting as the middleman:
This diagram explains it:
https://i.imgur.com/gByghtI.jpg