Binance Launches Blockchain for New Crypto Exchange
‘Binance Chain’ to Back New Decentralized Exchange
Exciting news from Binance happened this week. The company announced it was going to launch its own tailored blockchain, Binance Chain.
Binance, one of the world’s fastest exchanges in the market with it’s very high throughput of up to 1.4 million orders per second. Is headed by CEO Changpeng Zhao, along with a team spread around the world. Binance provides crypto to crypto exchanges, not Fiat to crypto. It is very well known for it’s customer service, security, and as mentioned it’s speed.
Since the announcement the company has seen it’s currency rise almost 25% in mere hours. It is being traded at $10.37 as I currently write this. The news of the creation of a decentralized native currency within its own chain obviously has some people excited.
In the announcement Binance said, “After extensively researching decentralized exchange frameworks and analyzing existing implementations, we believe significant improvements can be made in providing Binance users with a level of trading experience to which they are already accustomed. Centralized and Decentralized exchanges will co-exist in the near future, complementing each other, while also having interdependence. We stand here today because we believe that Blockchain technology will change the world. In the face of adversity, we have always elected to tackle issues head-on, instead of retreating. As such, we have decided to officially launch the development of the Binance Chain.”
They continued to say that “As a public blockchain, Binance Chain will mainly focus on the transfer and trading of blockchain assets, as well as provide new possibilities for the future flow of blockchain assets. Binance Chain will focus on performance, ease-of-use, and liquidity. Binance Coin (BNB) will be upgraded to exist on its own blockchain mainnet, becoming a native coin. At the same time, Binance will transition from being a company to a community.”
The company seems to express that it is making history, and I would agree. It seems there is only one direction for Binance from this point, up.
Author: Steven Johnson