Binance, one of the world’s leading cryptocurrency exchanges has combined the hottest thing in the blockchain sector – Decentralized Finance (DeFi) with centralized finance, through their Binance smart chain platform. Bithumb Global holds the special honor of being one of the first exchanges to support the Smart Chain with the projects within its ecosystem. And Bithumb Global is determined to make the most of this collaboration in the days to come.
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Binance Smart Chain
Binance is one of the largest cryptocurrency exchanges in the world today, in terms of volume of spot trade, traffic and many other such parameters. The company is widely known within the crypto community for many innovative solutions. The world renowned crypto exchange has also made the news for their initiative of raising a charitable fund to support those in need during the COVID-19 pandemic.
Moreover, the exchange is well known for its advocacy of decentralized technologies of different kinds. However, their new technology has outdone it all.
The platform was formally launched by the company on 1st September. The Smart Chain is designed to run parallel to the Binance Chain. The chain not only allows the creation of new smart tokens on the platform, but will also enable new staking mechanisms for the Binance token – a proof of stake authority mechanism.
A Few Striking Features
As the name suggests, the most promising feature of the Binance Smart Chain is the smart contract support feature. This will allow creation of smart tokens on the platform, as well as increase the utility of the Binance Chain and the Binance token.
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