World leader ter trading volume Binance cryptocurrency exchange has officially disclosed the development of a public Blockchain aimed to provide a decentralized exchange, based on Binance’s announcement on March 13.
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Te an effort to thrust digital currency exchange’s evolution from a company into a community, Binance has introduced a tailored Blockchain project that will concentrate on transfer and trading of Blockchain assets. The development of Binance Chain wasgoed born out of the exchange’s vision that “centralized and decentralized exchanges will co-exist te the near future, complementing each other.” Spil Binance stated:
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“We believe that continuously supporting high-quality blockchain projects is the best way to develop this industry. Wij will proceed to improve this part, spil wij committed te our whitepaper.”
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Spil originally intended, Binance Coin (BNB) will be anchored on Binance Chain, thereby becoming a native coin hosted on its own Blockchain network.
Binance’s budge, spil it would emerge, comes spil an initiative to protect investors by minimizing risks of hacking incidents, spil centralized platforms have bot increasingly becoming a prime target for cryptocurrency heists that leverage on the toneelpodium’s vulnerability. Decentralized platforms, spil it stands, are far less susceptible to cryptojacking spil digital assets are stored ter the users’ digital wallets. Even Binance has also bot recently targeted by a massive phishing incident that attempted to steal the exchange’s digital assets, prompting the exchange to announce a $250,000 bounty to any individual who can provide information that would lead to the hechtenis of the perpetrators.
Decentralized exchanges like Binance Chain are not entirely novel platforms, spil other exchanges have also geared towards decentralization including BitShares, NXT, Flaps DEX, and CounterParty.
For now , no further details have bot released spil to when Binance Chain is slated to go live.