The world’s largest crypto exchange will launch its own blockchain called “Binance Chain” in the coming months, the company announced in a tweet on 4 December.
The new Binance-based blockchain aims to create a basis for the creation of new cryptocurrencies and ICO tokens (Initial Coin Offering), as the company explained in the tweet:
“Binance is committed to the acceptance of the blockchain and is taking many measures to advance the industry. In the coming months, for example, the Binance Chain will be ready to create tokens for millions of projects very easily.”
According to a Forbes report, Binance recently announced its plans at a private event in Singapore hosted by Forbes Asia. At the “Decrypting Blockchain for Business” event, Changpeng Zhao, CEO of Binance, stated that the new plans actually reflect the original vision [of blockchain technology as a tool to revolutionize payment systems, editor’s note]. which is expected to lead to global adoption.
In order to achieve a fundamental increase in the acceptance of payments, CZ stressed that the company would “penetrate this area very hard”, as the “original version for some reason” has not yet gained importance.
The author of the Forbes article, Michael del Castillo, commented on Twitter that he expected there to be “millions of coins and thousands of blockchains” in the future.