Binance Chain starts with the Genesis Block today!
Home News Binance Chain starts with the Genesis Block today!
Marcus Misiak –
Yesterday evening Binance has pointed out, with a cryptic message on Twitter that the birth of a new Genesis block. Although Binance was not explicitly what the registered in Malta stock exchange refers, seems to be clear that the own Blockchain, which is meant Binance Chain, which provides, inter alia, a decentralized exchange (DEX) and the BNB Coin.
The Genesis Block is the first Block recorded in a Blockchain network, and sometimes as a Block 0 or Block 1 is referred to. When a Block is sent to the Blockchain, he refers to the previous Block. In the case of the Genesis block, however, there is no previous reference Block. Since there is no prior reference Block, the Genesis is programmed blocks are usually fixed in the Software. In terms of Bitcoin the Genesis Block was on 3. January 2009 by Satoshi Nakamoto created.
The Binance Chain will accommodate the new decentralized stock exchange of Binance, the Binance DEX, while the Binance Coin (BNB) from the Ethereum-a Blockchain will be migrated in the Blockchain of Binance.
At the time of publication is not clear, however, whether the platform intends to start both your full Blockchain, which mainly focuses on simple Asset Transfers and tokens-emissions, as well as DEX on the same day. Also, it is not clear when this will exactly happen, but it is likely that it will be in the next few hours.
As we reported, said Binance CEO Changpeng Zhao is already a few days ago in an Interview that his company intend to use the platform “by the end of the month” in addition to the Mainnet for Binance Chain itself. Now it seems to be finally over. In the last months of the Binance Team has stirred already permanently on the drum, to switch to Ethereum-to convince based projects to Binance Chain.
The market launches of the Binance Chain is the latest in a seemingly never-ending series of good news for Binance. The NBB rate was recorded in spite of the “crypto-winter,” strong gains. Similarly, the company Binance could have recorded strong profit growth. Binance “burned” in the framework of the 7. Coin Burn 830.000 BNB, suggesting that the platform has earned in the first quarter of $ 78 million. In the fourth quarter, the stock market generated 47 million dollars (but a total of over $ 400 million in 2018), which means that Binance’s profits have increased compared to the previous quarter by 66%.
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