What is Binance?

Binance Smart Chain

Binance Smart Chain (BSCC) is an open sourced protocol developed for running pre-ICO, instant, and live trades using a custom-made execution environment. It includes features that facilitate the execution of various kinds of smart contracts, each based on state transition matrices and real-time price feeds. Binance is considered as one of the most robust, versatile, and user-friendly trading platforms in the world today. BSC uses state-of-the-art techniques such as asset sourcing, risk management, real-time order matching, and liquidity scheduling.

Introduction

Unlike many market cap trading platforms, Binance does not attempt to provide a user with a platform that can execute transactions instantaneously. Instead, it focuses on making the trading process as frictionless as possible by removing the internal transaction costs. By removing these transaction costs, Binance makes online trading much more affordable and accessible to even small and medium sized businesses and individuals. Binance also works closely with leading financial institutions to reduce transaction costs, making Binance the fastest growing digital asset exchange in the world today. To top it all, Binance uses the most advanced security measures and fraud prevention measures available, thereby ensuring that the network is free of any kind of security risks.

Binance was created to address the needs of a new breed of traders who are looking for an alternative to traditional markets, particularly the forex market. Binance has created a hybrid smart chain architecture, which refers to the use of four (4) independent chains. These chains are based on distinct characteristics of each individual currency pair and facilitate complete versatility when it comes to scalping and daily transactions. In addition, Binance uses an improved messaging system called Zeba that facilitates real-time monitoring of balance changes and offers faster confirmation times for live trades.

Information

The main goal of Binance was to create a platform that would be capable of processing large volumes of fast, low cost tokens and providing a first class experience for users. Binance began by supporting Euro and U.S. dollar paired tokens, followed by several other pair types including Asian, British, Japanese, Australian, and Canadian dollars. Binance is currently in a very early development stage, and there is a large group of active developers that are contributing to the project. Binance’s developers are continuously working on improving the platform by adding new features and removing outdated bugs. In addition, Binance is planning to release a new trading platform in the future. While Binance currently provides functionalities for managing a wide range of currencies, additional functionality may be added in future releases.

Binance’s smart platform is designed to provide a high level of flexibility while maintaining simplicity. Binance Smart Chain eliminates the need for brokers and manual transactions, and there is no need to store large amounts of cash as there are no transaction fees. In fact, the company is well known for being one of the first to eliminate transaction fees for its members. Binance also utilizes the leverage provided by its twenty-four hour chart and offers real time information about currency pairs.

About

The Binance Smart Chain offers a simple user interface and a flexible system of linking and exchanging money. The platform is designed to offer an easy concept for new users and a more complex system for traders and professionals. Binance is well known for its low costs and high liquidity pools. Binance has recently partnered with Metatrader, a leading provider of asset management software, to provide even more cost savings and increased liquidity.

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