Binance is launching its own blockchain

The proprietary Blockchain Binance Chain will manage several areas of business along with off-chain transaction settlement
14 March 2018   794

On March 13 Binance announced the launch of its blockchain platform. Binance has conducted a comprehensive research on the nature and current technologies of blockchain paradigm and has extracted key points of improvement of the exchange with the introduction of the platform. Namely, the blockchain will focus on asset trade and transfer that are specific to the platform. The key parameters of the Binance Chain will be its performance, usability and liquidity.

Moreover, Binance is likely to launch a separate decentralized exchange that will have its own token. This is hinted within the statement as Binance Coin (BNB) will be renewed for blockchain mainnet. With this shift, Binance announced its transition from a company to a community, and will act as a venture platform for all-new coins and ICOs. Although BNB is an ERC20 token that lives on Ethereum blockchain, its use was limited to customer deposits and withdrawals as most of transactions were settled off-chain - initially, Binance is a centralized cryptocurrency exchange.

In the end, Binance will operate both centralized and decentralized exchanges in the coming future, cooperating with one another and staying independent nonetheless. Looks like, Binance is turning into a solution for a full range of cryptocurrency services.

Trust Wallet to Add BTC & Bech32 Support

At the moment, this option is available to users of iOS devices, support for Android will be added in the next 2-3 weeks
10 December 2018   106

Binance owned and ERC-20 standard tokens oriented Trust Wallet, announced the start of Bitcoin support (BTC).

As stated in the company's blog post, Trust Wallet has become compatible with the SegWit protocol, allowing to send and receive funds to Bech32 native addresses (bc1).

At the moment, this option is available to users of iOS devices, support for Android will be added in the next 2-3 weeks.

Earlier Trust Wallet announced the start of support for TRON (TRX) tokens. The wallet also supports GoChain (GO), POA Network (POA), Ethereum Classic (ETC), Wanchain (WAN) and VeChain (VET).

Recall Binance announced the purchase of Trust Wallet in July this year. The wallet is expected to become part of the upcoming release of the decentralized trading platform Binance.