Binance Launches Own Blockchain; Decentralized Exchange Coming Next Week
The world's largest cryptocurrency exchange, Binance, has announced the launch of its own blockchain, Binance Chain
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Last updated: Friday, April 19, 2019
The world’s largest cryptocurrency exchange, Binance, has announced the launch of its own blockchain, Binance Chain, in a bid to take on Ethereum in offering support to decentralized exchanges.
In addition to Binance Chain mainnet, the company also has plans to start a decentralized exchange of its own sometime next week. The company’s native token, Binance Coin BNB, will be moved from Ethereum and will go on to become the main cryptocurrency in Binance Chain blockchain.
All of the BNB in circulation in the crypto market will transfer from Ethereum to Binance Chain via a token swap. BNB has a total market cap of $2.95 billion and is one of the leading tokens on the Ethereum network presently.
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Arslan Butt
Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.
His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.
His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
