Binance Launching Binancechain “very soon” to Enable Issuance of “Millions of Coins”

Binancechain

Binance Launching Binancechain “very soon” to Enable Issuance of “Millions of Coins”

Changpeng Zhao, CEO of the biggest cryptocurrency exchange Binance is planning to launch Binancechain in the coming months that will be used for the issuance of tokens. Meanwhile, Binance Coin (BNB) is surging amidst the red market.

“There will be Millions of Coins and Thousands of Blockchains”

At Forbes Asia’s blockchain event, Changpeng Zhao, the CEO of the biggest crypto exchange Binance shared what more is coming for the crypto community.

Michael del Castillo, the Forbes writer quoted Zhao from the event on Twitter,

“We are launching Binancechain very soon, in a couple months or so, and you will be able to issue tokens on that….I think there will be millions of coins and thousands of blockchains.”

Binance is the biggest cryptocurrency exchange with 24-hours trading volume of over $662 million.

Source: Coinmarketcap

Meanwhile, its native token, Binance Coin (BNB) is surging by 7 percent at $5.50. The 15th largest coin as per market cap of $720 million is managing the daily trading of $ 20 million. Where the majority of the crypto market is in the deep red, BNB is in the green in the BTC and ETH market as well by about 8 and 9 percent respectively.

Source: Coinmarketcap

As BNB price surged, Zhao Tweeted,

The tattoo is a symbol of Zhao’s lifelong commitment to Binance which according to him, “Tattoo is the ultimate demonstration of loyalty, it should not be bought. It has to be voluntary.”

Binance CEO further talked about the story behind the BNB logo in his medium post,

“Sixteen months ago, when we were designing the Binance logo, we tried many different variations. We wanted to represent the bids and asks on the exchange with two squares, while also echoing the “binary” word in our name (Binance = Binary Finance).”

From here, they moved on to two squares on top of each other and then putting a bigger square like a board. “The board would be the “playground” or place where things happened, which is what an exchange platform is, after all.”

 

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Author: Anjali Tyagi

Having a background in writing, I worked on a wide array of industry topics and have recently entered the world of Blockchain and Cryptocurrency.

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Anjali Tyagi 440 Articles

Having a background in writing, I worked on a wide array of industry topics and have recently entered the world of Blockchain and Cryptocurrency.

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