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   1790

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.

Binance to Launch Zero Fee Tezos Staking

Expert believes is proposal is "pretty insane" because, for example, Coinbase takes 25% of users' rewards for staking
04 December 2019   116

On December 4, Binance Bitcoin Exchange will add Tezos Staking Support (XTZ). Rewards will be calculated daily, and distributed once a month until the 20th day.

The minimum deposit for staking is 1 XTZ, and the annual rate is 6-7%.

At the same time, Binance will not charge fees for its services, which threatens the business models of most stake-in services, Larry Cermak from The Block believes.

He reminded that Coinbase is currently deducting 25% of the user rewards for XTZ staking, but it is likely that they can revise this policy in the near future to maintain competitiveness.