Everyone should be able to make their own decisions and control their own affairs - no matter who they are or where they’re from. This includes initiatives such as:īinance Labs - an accelerator that incubates and invests in blockchain projects.īinance Pay - a contactless, borderless and secure crypto payment technology.īinance Academy - an open-access learning hub providing free blockchain education.īinance NFT Marketplace - a platform to create and trade digital art and collectibles.īinance Charity - a not-for-profit foundation advancing blockchain-enabled giving.Īll these strands feed into Binance’s mission to be the infrastructure service provider in the crypto space and contribute to building a world where blockchain helps people achieve financial freedom. Today, the exchange is just one part of the company’s product suite, with Binance establishing itself as the world’s leading blockchain ecosystem. Over the years, however, Binance has grown into more than a trading platform. In April 2022, The Washington Post reported that Binance has four times the spot trading volume of its nearest competitor on a typical day. Five years later, the platform remains top of that chart, processing tens of billions of dollars in transactions per day. Within 180 days of launch, they managed to grow Binance into the largest digital asset exchange in the world by trading volume. Binance’s co-founders were Changpeng Zhao, known as CZ, and Yi He. What Is Binance?īinance was launched in July 2017 as a cryptocurrency exchange driven by a vision of providing a simple, usable platform for people to trade digital assets such as Bitcoin and Ethereum. This article will explore the history of Binance, the history of BNB Chain, and explain why - in reality - the company founded by Changpeng Zhao and Yi He has no ownership of the decentralized blockchain ecosystem it once helped create, and still supports today. One of them is paying fees to use BNB Chain, which, as of October 2022, is the largest smart-contract blockchain in terms of transaction volume, with an ecosystem of more than 1,300 active decentralized applications (DApps).īecause of the fact that Binance was originally involved in initiating the blockchain, many people mistakenly assume that Binance and BNB Chain can be spoken of as one and the same - that it is “Binance’s chain”. That token has since added hundreds of other use cases. Back in 2017, it launched the BNB utility token, with the initial use case of allowing users to receive discounts when paying their trading fees. Today, Binance runs the largest digital asset exchange in the world by trading volume. BNB Chain now exists as a fully decentralized ecosystem run by its community and a distributed network of validators. Learn more about how Binance helped launch the world’s largest smart-contract blockchain by transaction volume. Binance does not own or control BNB Chain.īinance is a company that exists to take crypto to the masses and help move the world to a decentralized digital future. Binance is a centralized organization behind an expansive ecosystem that includes the largest digital asset exchange in the world by trading volume, among a vast range of other products and services.īNB Chain was originally initiated by Binance but has since grown to become a community-driven, permissionless, and decentralized blockchain ecosystem.īinance is now simply one of the many contributors operating within the BNB Chain ecosystem rather than some kind of dominant force wielding unilateral power over it.
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