Users who purchased the token and used it as a means of paying the transaction fees were rewarded with a 50% discount. For example, if you want to convert your one crypto coin to another crypto coin, you would need to pay some transaction fee. The BNB token can be used for paying the transaction fees obtain while exchanging the digital coins. To fund the creation of the exchange platform, Binance team developed a token and raised funds through an ICO and raising some $15 million. It is a software system for Binance exchange, Binance Launchpad, and more to come. Binance Chain was released in April 2019. April 18, 2019, Binance released its blockchain, and coins were exchanged on it.īinance Coin was based on the ERC20 standard and used Ethereum blockchain until Binance own blockchain was created. Mostly, Binance coin (BNB) was an ERC-20 standard based Ethereum token. The main goal of coin creation was inviting funds to develop the Binance exchange. While the company is still getting more popular on the crypto market, it has handled to gain a lot of demand to its impressive number of Initial Coin Offering listings, skilled attitude and friendly CEO and also due to its low trading fees.īinance coin was circulated during the ICO in July 2017. Binance is most popular for its crypto to crypto exchange services. The Binance Coin (BNB) is a cryptocurrency which can be used as an intermediary when exchanging money, from one crypto-coin to another.īinance is the largest cryptocurrency exchange platform which was initiated in China but recently moved their headquarters to the crypto-friendly Island of Malta in the EU. It is one of the world’s leading cryptocurrency exchange platform. "The brand name “Binance” is the combination of two words: Binary and Finance." What are the Features of the Binance Chain?.This guide takes a closer look at Binance Coin, Binance Chain, Binance DEX, how Binance Chain works, Where to trade Binance coin and what are the future may hold for this earnest project. Launched in 2017, Binance crypto exchange is devoted to promoting blockchain’s main principles such as fairness, transparency, safety, and stability. One such platform, Binance, claims to use latest technologies to stabilize transactions and generally simplify operations. But If you are a pro cryptocurrency investor, even a beginner in the crypto market, there are good chances that you have heard the name Binance, and for good reason, since it is the popularized cryptocurrency exchange by trading volume. What are the primary functions you look for in crypto exchange? Is it speed or low fee commissions? Or do you primarily look for security and ease of use? Whatever it is, there is no shortage of exchanges on the crypto market and you might have already found the one that ticks all the right boxes. Web3 Entertainment Platform Development.Cryptocurrency Exchange Listing Services.
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