Cryptocurrency exchange Binance proceeded to the development of their own blockchain, dubbed Binance Chain. According to a statement in the company blog, blockchain will become the basis for a decentralized marketplace that will soon complement centralized systems are popular exchange.
“As a public blockchain, Binance Chain will mainly focus on trade blockchain assets and their transfer, as well as provide new opportunities for the future influx of blockchain assets”, — said in a statement.
It is reported that the developers thoroughly studied the working mechanisms of decentralized exchanges, and analyzed decisions made by other participants in the industry. In the end it was decided to create a hybrid that would combine both approaches.
“Centralized and decentralized markets coexist in the near future, complementing each other and having relationships,” write the representatives of the exchange.
The developers note that in the first place will focus on the performance and liquidity of the future platform, and ease of use. In General, this step is part of the company’s plan to transition “from company to community” — the opinion of the team Binance, “adapted from the blockchain is the best way of communication.”
It should be noted, tokens Binance Coin (BNB), too, will be transferred to a private blockchain. Note, currently, the coins represent a token Ethereum standard ERC-20. It is expected that after the launch of the decentralized platform token BNB will be the basis for the blockchain system asset exchange — options, which will exist alongside centralized services Binance.
Earlier, the stock exchange announced the creation of a $10 million Fund to reward for information on hackers and the payment of a sum in tokens BNB, equivalent $250 000, to the first person who can provide information about attackers who attempted to steal tools users 7 Mar.
As expected, the rate of BNB on the background of positive news jumped more than 30% — trading at the rate of about $8 in the last days, a few hours ago it was close to $11. At the time of publication course Binance Coin is $of 10.28.