Binance cryptocurrency exchange announced about a start of its own public blockchain on which the decentralized trading platform will be created subsequently.
As it is noted in the document, the similar step had to become a part of the global plan of Binance for “transformation of the company into community”. New Binance Chain will allow to transfer or trade in various digital assets.
Besides, the platform declared that it in the future would transfer to own blockchain and the Binance Coin cryptocurrency (BNB). Coing currently are using the the ERC-20 standard and function in Ethereum network. However, so far it isn’t clear how similar transition will be carried out for the present BNB holders.
The updated token will become a basis for a blockchain exchange which will work with more centralized Binance services.
“We are sure that that level of services to which users of Binance have already got used can be significantly improved. The centralized and decentralized platforms will coexist in the near future, being interconnected and supplementing each other.”
— Binance states in its announcement.