On the 18th of April, Binance, a global exchange, launched blockchain. This exchange is intended to support decentralized exchanges (DEX) and is called Binance Chain.
As reported by CNN, next week Binance is launching a DEX. The newly launched exchange has proficient protocol for decentralized applications that request a high transaction rate.
“Binance chain was launched in order to support cryptocurrency exchange. On this exchange any new tocken can be issued and add existing ones that aren’t dependent on smart contracts can move here and gain advantages from the network,” reported the Binance team.
“Financial freedom will be inspired by this and new projects in the exchange will assist the long-term development of crypto asset trading,” they added.
Binance is also going to add BNB to the blockchain platform. Earlier the company’s native token was trading on the Ethereum network and the company assumes that the change will motivate many projects to move to the newly-launched exchange. It is also rumored that the token will be issued with a 200 million offer on Binance Chain.
The company’s team stated, “The first batch of 5 mln Binance Coins will be stored into a Binance.com address for the purpose of converting for current owners the ERC20 Binance Coin. The company will also burn 5 mln ERC20 Binance Coins, in order to keep the supply of Binance Coin stable.”