Menu

Search

  |   Digital Currency

Menu

  |   Digital Currency

Search

Binance unveils proprietary blockchain platform ‘Binance Chain’

Leading cryptocurrency exchange Binance has officially announced the development of the Binance Chain – its own public blockchain.

The announcement follows the recent unsuccessful hacking attempt on Binance’s platform. Subsequently, the company announced a $250,000 USD equivalent bounty to anyone who supplies information that leads to the legal arrest of the hackers involved in the attempted hacking incident on its platform earlier this month.

Binance provided details of its blockchain platform in a blog post. It said that it has completed Binance Labs, a blockchain technology incubator; Binance Info, its Codex; and many other components that comprise the Binance ecosystem. It said:

“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…As such, we have decided to officially launch the development of the Binance Chain.”

“As a public blockchain, Binance Chain will mainly focus on the transfer and trading of blockchain assets, as well as provide new possibilities for the future flow of blockchain assets. Binance Chain will focus on performance, ease-of-use, and liquidity. 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.”

Binance Coin (BNB) surged on the announcement to $11.52 levels. It is currently trading at $9.70 levels at press time.

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

2019-05-27 02:34:53
0m

May 27 01:30 UTC Released

CNSales Turnover

Actual

-3.7 Percent

Forecast

Previous

13.9 Percent

May 27 01:30 UTC Released

CNTurnover/sales cum Y/Y

Actual

-3.4 Percent

Forecast

Previous

-3.3 Percent

January 31 00:00 UTC 692926692926m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 692926692926m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 704746704746m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 692926692926m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 704746704746m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 692926692926m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 692926692926m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 692926692926m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.