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Binance Smart Chain Centralization Levels Spell Trouble for BNB

Speculation mounts around Binance as some believe it could become the world’s leading settlement layer. However, new research reveals high centralization levels in Binance Smart Chain, which might affect BNB’s price action. Binance Smart Chain May Disappoint Binance’s native token, BNB, has enjoyed an impressive bull rally since the beginning of the year. The utility token has posted year-to-date returns of over 1,600%, going from $37.40 to a new all-time high of $640.50.  The upward price action allowed it to become one of the top-performing cryptocurrencies in Q1 2021  As speculation mounts, large investors have been adding more tokens to…

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Binance Coin (BNB) market cap passes Santander and UBS — What’s next?

To date, Binance Coin has rallied 900%, which makes the token’s $64 billion market cap larger than Santander, the Bank of Montreal and UBS. 2021 has been an impressive year for Binance Coin (BNB), which so far has rallied by more than 900%.  One of the primary drivers of BNB's growth was continued congestion on the Ethereum network. As this struggle carried on, Binance Smart Chain (BSC) emerged as an alternative, meeting the rapidly growing decentralized finance (DeFi) sector's demands. As BNB reached a $64 billion market capitalization, it has surpassed traditional banks, including Santander, the Bank of Montreal, and…

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What Is BurgerSwap? New Platform Based On The Binance Smart Chain

What is BurgerSwap you may ask yourself, as the new iteration of Uniswap emerged but now based on the Binance Smart Chain. There is more than $400 million stakes in one day via this smart chain as we can see more today in our binance news. As the DeFi space continues to boom, the developers come up with another iteration of a Uniswap-like automated market maker. Zeroing down on this food craze in the defi space, the platform is called BurgerSwap. But What is BurgerSwap? BUIDL it, and they come. I do not know who built this one, but it's…

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Binance smart chain is live on mainnet

Five months after the project was unveiled, Binance announced the launch of its  Binance Smart Chain blockchain today, which enables creation of smart contracts and allows users to stake BNB, Binance’s very own token. The blockchain is compatible with Ethereum Virtual Machine, which may increase the utility of both Binance Chain and the BNB token. BNB, which is an ERC-20 token, has a market capitalization of around $3 billion, at press time. The new blockchain network is also capable of producing a block every 3 seconds according to the release and runs on Proof of Staked Authority (PoSA) consensus algorithm.…

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Travala to use Binance Chain to further decentralize travel booking platform

Travala.com, a cryptocurrency-friendly travel booking platform, today announced its collaboration with Binance Chain, a community-driven blockchain software system developed by Binance and its global community. The agreement will see Travala.com working closely with the Binance development team behind Binance Chain and Binance Smart Chain to phase-in more advanced decentralized functionality, further strengthening Travala.com’s ability to offer unique blockchain-based solutions to travelers and travel suppliers and to compete in the fast-growing travel booking market against status quo platforms. Juan Otero, CEO of Travala.com, said: “Since setting out to build Travala.com, we have always had the intention to decentralize aspects of the…

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Binance Coin Staking Will Soon Be Available On The Chain’s Testnet

Binance coin staking will soon be available on the Binance chain testnet as the platform will distribute 3000 BNB in prizes to participants. The team at Swipe launched a $16 million SXP airdrop to the holders in a 12 week period as we are about to see in the upcoming Binance coin listing news. The team at Binance is known for keeping their head down in a building mode of the market environment as earlier this week the team at the exchange announced that BNB staking will be available on the Binance Chain testnet version. Furthermore, staking via the BNB…

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IOST Now Accepted as Collateral Asset on DeFi-Focused Bidao

The delegated Byzantine-Fault-Tolerant (dBFT), decentralized, and blockchain agnostic platform, Bidao, now supports IOST as a collateral asset on its decentralized finance (DeFi)-dedicated ecosystem as per a Medium post shared on July 31. With this announcement, it means IOST coins can be locked up in Collateralized Debt Positions (CDPs) to generate the network’s stable coin, BAI.  IOST Focusing onRead MoreRead More. The post by Dalmas Ngetich appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News

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US Regulator Zeroes in on Binance Chain as SEC Awards Monitoring Contract to Ciphertrace

The U.S. Securities and Exchange Commission (SEC) intends to award a fixed-price contract on a single source basis to Ciphertrace. The SEC is awarding the contract to the blockchain monitoring company as it plans focus on BNB coin, as well as other tokens on the Binance’s DEX. The BNB token has multiple forms of utility and powers the Binance Ecosystem as its underlying gas. The U.S. regulator says it has chosen Ciphertrace because “its products are the only known blockchain forensics and risk intelligence tool that can support the Binance coin (BNB) and all tokens on the Binance network.” This…

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US SEC Wants To Trace Transactions On The Binance Chain: Report

The US SEC wants to trace transactions made on the Binance Chain by giving the blockchain analytics company CipherTrace a contract to do so, as we are reading in the reports today, in the Binance news. The US SEC wants to trace the Binance chain transactions with the help of CipherTrace by giving the company a contract as it is the only company that supports the Binance Chain since 2019. The US Securities and Exchange Commission wanted to give the company a contract that will help It trace the transactions on the blockchain that hosts BNB and underlies Binance DEX,…

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BEP8 “mini-token” enhances Binance Chain

Binance Chain, a community-driven blockchain software system developed by Binance and its global community, recently completed a new upgrade, named after Florence Nightingale, and introduced a novel feature in the upgrade, the launch of the BEP8 token. The BEP8 token, which is also called the “mini-token,” marks a major milestone in the enhancement of Binance Chain. This new token protocol accommodates many small, promising projects that are hindered by the current cost of getting a BEP2 token. The BEP8 token has use cases when it comes to small or micro-projects, intellectual properties, and other small token economies. Compared to BEP2…

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