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Binance to Launch its Own Decentralized Trading Platform

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When so many companies are launching new blockchains and crypto coins it is not surprising that a cryptocurrency exchange has decided to launch its own blockchain. On 13th March, Binance had revealed that it would soon unveil its own blockchain. The ambitious Hong Kong-based cryptocurrency exchange has announced that their blockchain will arrive with many new features. Currently, Binance.com is working on the upgraded version of its cryptocurrency.

Up till now, Binance like rest of the centralized cryptocurrency exchanges did not see the need to use blockchain. This is because all the activities take place off-chain. The transactions occurring through the exchanges are updated in the order book that is stored on the exchange’s servers. Even though the BNB token of Binance is an ECR20 it does not always depend on the Ethereum blockchain. It is utilized when BNB transactions occur using the Binance platform. These transactions too are settled off-chain.

The Reasons for the Launch

Binance envisions that in the near future the centralized and decentralized cryptocurrency exchanges will complement each other and exist in harmony. This is what led the developers of Binance to create a new blockchain. Binance Chain will be utilized during the transfer and trading of blockchain assets. The cryptocurrency experts say that the move will direct the crypto exchange from being a company to a community. The reason behind the launch of the Binance Chain has been quite clearly stated in the announcement of Binance.

“In just six short months, Binance has transformed into one of the world’s most popular cryptocurrency exchange platforms. Additionally, we completed Binance Labs (a blockchain technology incubator), Binance Info (our Codex), as well as many other components that comprise the Binance ecosystem. We believe that continuously supporting high-quality blockchain projects is the best way to develop this industry. We will continue to improve this part, as we committed in our whitepaper. However, for Binance, this is far from enough.”

“As a public blockchain, Binance Chain will mainly focus on the transfer and trading of blockchain assets, as well as provide new possibilities for the future flow of blockchain assets. Binance Chain will focus on performance, ease-of-use, and liquidity. Binance Coin (BNB) will be upgraded to exist on its own blockchain mainnet, becoming a native coin. At the same time, Binance will transition from being a company to a community.”

Current Status of Binance Exchange

From the tweet of Changpeng Zhao, the CEO of the company, it seems that Binance Chain and the existing centralized exchange will work side by side. Other than improving the experience of trading digital assets, the new decentralized exchange will most likely be used as a launchpad for ICOs and new coins. Recently, in February 2018, Binance was lauded worldwide for the way it handled incidents like the viacoin pump and dump. A year ago, Binance was an unlikely contender in the competition of crypto exchanges. Today, Binance is on the way to become the leading cryptocurrency exchange. According to coinmarketcap.com, Binance currently ranks first (as of 14th March 2018) in the 24-hour volume rankings (exchange) and hosts nearly $1.61 billion worth of cryptocurrency trades.

The updated version of BNB (Binance Coin) will, in future, be a crucial aspect of the system that serves the Binance blockchain. At present, Binance Coin is used to make investments within the Binance ecosystem. Binance, in fact, is always on the lookout for new improvements in their framework in order to better the level of trading experience. The announcement also states, “After extensively researching decentralized exchange frameworks and analyzing existing implementations, we believe significant improvements can be made in providing Binance users with a level of trading experience to which they are already accustomed.”…” We stand here today because we believe that Blockchain technology will change the world. In the face of adversity, we have always elected to tackle issues head-on, instead of retreating. As such, we have decided to officially launch the development of the Binance Chain.”

We will be updating our subscribers as soon as we know more. For the latest on BNB, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social
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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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