Today, Binance announced plans to create a Binance Blockchain…
Binance has outlined plans to place their ecosystem of services onto their own blockchain. This would also see BNB – Binance’s exchange token – moved off the Ethereum blockchain where it currently exists as an ERC20 token, and onto a Binance Chain mainnet:
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 exchange also hinted at the possibility of offering a decentralised exchange that would coincide with the centralised exchange they currently operate:
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.
This exciting news has seen the price of BNB jump up, as you’d expect.
We’re keeping an eye on the ambitious projects Binance has eluded to in this announcement, and we’ll be posting further major updates here as they come in.
Thanks for reading
– The Crypto Buyers Club team