Binance launches a new blockchain technology of its own and an upgrade to its crypto token

Binance launches their own blockchain technology in an effort to beat hackers.
The exchange will also be upgrading its own token BNB.

Ken Chigbo Independent Analyst

The world’s largest cryptocurrency exchange is launching some big updates for their systems. An update coming via Binance statement they released, there will be a new blockchain platform, this will be known as Binance Chain, ultimately will be utilized to enhance performance and liquidity provided. A public blockchain focused on transactions and trades of different blockchain assets.

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

Binance also upgraded its own token BNB, this will be integrated into its new blockchain technology. Now BNB is a ER20 token, this currently runs on the Ethereum network.

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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