Ethereum Killer? More Projects Choose to Migrate to Binance Chain

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Ethereum Killer? More Projects Choose to Migrate to Binance Chain
More and more projects are taking a decision to migrate to Binance Chain. Such popularity positively influences the price of BNB.
Ethereum Killer? More Projects Choose to Migrate to Binance Chain

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Source: CoinSpeaker

Binance Coin Price Hits New All-Time High After Stream of Announcements

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Binance Coin Price Hits New All-Time High After Stream of Announcements
After Binance launched its native blockchain network and decentralized exchange, investors rushed to buy a massive amount of Binance Coin (BNB) tokens.
Binance Coin Price Hits New All-Time High After Stream of Announcements

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Source: CoinSpeaker

Binance Exchange Quietly Alters BNB’s Original Whitepaper With New Clause

Major cryptocurrency exchange, Binance has recently updated its whitepaper which was first released back in 2017. Although the company’s visions and goals remain the same, Binance has altered a bit in terms of profit used for buy back tokens and token burning plan.
Per the reports, Binance has removed 20% of the profits which was set to use for buyback tokens. Consequently, such buy-back clause or as updated in the older version of whitepaper ‘repurchasing plan’ has been replaced with Token Burning’ clause.
However, the reason wasn’t immediately available but reports highlight CZ’s statement towards this change. According to media reports, Binance CEO CZ says that the whitepaper has been updated to explain users about the process of token burning undertaken at Binance exchange.
In CZ’s words;
“We recently updated our whitepaper to better describe how we actually conduct the burn. For example, we removed the buy back reference because we actually don’t repurchase BNB and simply reduce the supply by burning BNB. We also removed the profit language because some regions tend to associate profits with securities, and we would like to distance BNB from that. So going forward, we plan to describe the burn this way, and burn what we burn.”
Nevertheless, Binance’s statement confirms that exchange – in fact – doesn’t use its profit to repurchase BNB rather they destroy it in accordance with trading volume. Indeed, the exchange has recently completed its seventh coin burn of 829,888 BNB tokens.
Image source – TheBlockCrypto
Original Whitepaper that includes repurchase plan –
“Every quarter, we will use 20% of our profits to buy back BNB and destroy them until we buy 50% of all the BNB (100 million) back”
An updated version of a whitepaper that includes The burn clause –
“Every quarter, we will destroy BNB based on the trading volume on our crypto-to-crypto platform until we destroy 50% of all the BNB.”
Undeniably, Binance since the launch in 2017 – is constantly succeeding the new milestone. The news of clause change in whitepaper comes in a wake of Binance’s native blockchain launch. Following Mainnet launch, BNB tokens will soon be migrated from ETH network to Binance Chain network.
Let us know what do you think about Binance altered clause from its whitepaper.?
The post Binance Exchange Quietly Alters BNB’s Original Whitepaper With New Clause appeared first on Coingape.
Source: CoinGape

Binance’s Mainnet Swap to Execute on April 23 via Binance Chain’s Native Token

Binance’s long-awaited Binance chain has finally hit the headline today on April 18, 2019. Following Mainnet launch, its Swap is planned to execute on April 23.
Earlier this month, Changpeng Zhao or popularly known CZ, CEO of Binance cryptocurrency exchange has said in a Deconomy conference that the platform is launching its DEX later this month. However, today’s mainnet launch is what CZ had proposed during the conference.
The exchange said that the Mainnet Swap is proposed to happen on April 23, 2019, which might change depending on ‘how things progress’.
Binance has shared a couple of actions that has planned to be performed including the BNB creation in the genesis block. The explorer and web wallet of Binance chain will be available only for selected members which will undergo for testing mode – prior the public access on April 23, 2019. Accordingly, the migration of BNB from ETH network to Binance Chain will occur within April 19-April 23. As such, old BNB address (based on ETH address ) will be destroyed and consequently new BNB tokens will be built on top of Binance Chain network.

Moreover, the exchange has said BEP2, a Binance Chain BNB tokens will be used on April 23 when Binance users will be able to use Binance Chain address to process BNB withdrawal request. Means that old ERC-20 BNB tokens will then be migrated to BEP2 BNB tokens. It reads it as follows;
Binance.com 3 will assist with the BNB mainnet swap on April 23rd, 2019 at the earliest. If everything works as intended, then users will be able to provide a Binance Chain address for BNB withdrawal requests. The withdrawal will then act as a mechanism to convert ERC20 BNB tokens into BEP2 BNB tokens native to Binance Chain.
Moreover, who wish to still keep BNB on its ERC20 based BNB address (for any reason during the conversion period) then such users are expected to withdraw their BNB from Binance.com account before 2 AM (UTC) on April 23rd and moved into Ethereum Wallet, the exchange said.

However, this announcement is followed by exciting hints and secrets by Binance official and CZ’s Twitter timeline. As coingape reported, the exchange and CZ, early in the morning shared tweets about the upcoming launch which certainly excited the whole Binance community.
Image source- Twitter 
The post Binance’s Mainnet Swap to Execute on April 23 via Binance Chain’s Native Token appeared first on Coingape.
Source: CoinGape

OKEx Follows the Lead of Binance Planning to Launch Its Own Decentralized Exchange

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OKEx Follows the Lead of Binance Planning to Launch Its Own Decentralized Exchange
OKEx plans to catch up with Binance by scheduling the launch of its in-house decentralized exchange, DEX, for this June. The DEX will run entirely on OKEx’s own blockchain.
OKEx Follows the Lead of Binance Planning to Launch Its Own Decentralized Exchange

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Source: CoinSpeaker

You Can Now Check Out Binance’s New Decentralized Trading Platform as Public Testing Goes Live

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You Can Now Check Out Binance’s New Decentralized Trading Platform as Public Testing Goes Live

Binance launched its much expected decentralized exchange (DEX) to increase security and efficiency of its services and the markets love it with the BNB coin appreciating by over 75% within days.

You Can Now Check Out Binance’s New Decentralized Trading Platform as Public Testing Goes Live

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Source: CoinSpeaker

Binance Set to Release Its Decentralized Exchange for Public Testing Next Week

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Binance Set to Release Its Decentralized Exchange for Public Testing Next Week

CEO of Binance has announced the date when their new decentralized platform called Binance DEX will be launched for public testing.

Binance Set to Release Its Decentralized Exchange for Public Testing Next Week

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Source: CoinSpeaker