Keeping things in perspective, it’s pretty obvious Binance have a big plan in mind and it will put all it’s efforts to push Binance coin to new highs. However, Binance DEX and Binance Smart Chain have a lot to prove especially after ETH2.0 upgrade and after upcoming projects like Uniswap Exchange (UNI), Polkadot (DOT) and Solana (SOL). There’s no serious competition in the hindsight. The majority of the funds was used to spread Binance reach via marketing, branding and promotions.Ĭlearly, Binance is riding on high trust and faster operations. Binance generated USD 15 Million of funds from the token sale to the public. The ICO was launched at a price of 15 cents per token. The tokens were distributed as per the said breakup shared below – Party Binance Coin ICO:īinance Coin ICO (Initial Coin Offering) took place during its launch in 2017. Binance Smart Chain works on the Proof of Stake and Proof of Authority consensus mechanism. Binance was quick to jump on the opportunity by launching BSC, The sole purpose of creating BSC is to develop a DeFi ecosystem. The announcement of Binance Smart Chain took place in September 2020 but it was launched later in April.Īfter observing the issues with Ethereum that led to network congestion, slow transaction speed and high gas fee. Just like Ethereum, it is equipped with smart contracts with a core focus on creating a DeFi ( Decentralized Finance) ecosystem. Binance Smart Chain is the blockchain built by Binance as an alternative to Ethereum network.
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