Binance introduces Blockchain for new crypto exchange

Binance announced on Tuesday that it has introduced a new decentralized crypto exchange powered by a public Blockchain network.

Binance introduces Blockchain for its new crypto exchange

Cryptocurrency exchange According to the description; It was said that this move is a “company to community” move and will create a new Binance Chain for it, which will be used to trade or transfer different Blockchain assets.. In addition; The company said it will essentially shift Binance Coin (BNB) to its own Blockchain network (currently BNB is an ERC20 token and runs on the Ethereum network).. However, it is unclear whether users of the exchange’s ERC20-based token will go for some kind of token exchange.

The token will form the basis of the upcoming Blockchain-based exchange, apart from the centralized services offered by the Binance exchange.

Binance said in a statement:

We believe significant improvements can be made in providing Binance users with a trading experience at a level they are used to.. Centralized and decentralized exchanges will, in the near future, be complementary to each other and also interdependent.

Reward to first person to find attackers!

News, Binance’s past It came a day after the exchange announced a bounty program to track down attackers who attempted to steal money from users of the exchange.. Binance has announced that it will award $250,000 worth of BNB tokens to the first person to share information leading to the arrest of the attackers.. Although it has been trading around $8 for the past few days, it has reached a high of around $10 in the last two hours.. As of press time, BNB is trading at around $9.70 per token.

CoinDesk