After the impressive handling of the ‘phishing’ and subsequent bot attack last week, Binance continues to prove that it is an exchange that can react, with speed and integrity. The leadership of CEO Changpeng Zhao is particularly strong as he has come from a hands on developer background.
Binance have just published a ‘self-improvement’ dossier that seeks to make Binance core to the crypto movement. Here is a snippet of that release:
“After extensively researching decentralized exchange frameworks and analyzing existing implementations, we believe significant improvements can be made in providing Binance users with a level of trading experience to which they are already accustomed. Centralized and Decentralized exchanges will co-exist in the near future, complementing each other, while also having interdependence. We stand here today because we believe that Blockchain technology will change the world. In the face of adversity, we have always elected to tackle issues head-on, instead of retreating. As such, we have decided to officially launch the development of the Binance Chain.”
Binance is essentially admitting that they need to ‘disrupt themselves’ and push beyond whatever they’ve built thus far.
“As a public blockchain, Binance Chain will mainly focus on the transfer and trading of blockchain assets, as well as provide new possibilities for the future flow of blockchain assets. Binance Chain will focus on performance, ease-of-use, and liquidity. Binance Coin (BNB) will be upgraded to exist on its own blockchain mainnet, becoming a native coin. At the same time, Binance will transition from being a company to a community.”
Here is a link to the full announcement: Binance Chain Announcement