Binance Crypto Exchange Celebrates its One-Year Anniversary in Review
Binance Celebrates its One-Year Anniversary, Many Development Plans in Store As Per Review!
It has been recently revealed that most prevalent cryptocurrency exchange, Binance celebrated its one-year anniversary on July 14th, 2018. The joy was shared via Twitter in which the team behind it shared “#Binance’s First Year in Review”.
Binance is the only cryptocurrency exchange to have experienced such an incredible growth. The exchange has managed to secure a position on the list of the “Top 10 Crypto Exchange” within 42 days, “Global Top 5 Crypto Exchange” within 92 and held and continues to hold the number one position as “Global No.1 Crypto Exchange” is as little as 165 days.
Its steady growth is what made the exchange excel along with the different products it has released. According to a Binance’s Medium post, its Buyback & Burn system allowed for its token value to go up. The company devotes 20 per cent of its profits quarterly to buy back its native coins, BNB and burning them. The process of burning the tokens is supposedly done to “lower the supply of BNB while demand continues to rise”.
Some of the products that Binance has succeeded in launching includes:
- Binance Android & iOS applications
- Binance Labs & Launchpad
- Window Client
- Binance Info
- Binance Uganda – a fiat to cryptocurrency exchange registrations open
As for future projects, some of the main highlights mentioned by the team include:
- Binance Chain (announced)
- Binance Charity Foundation (announced)
- Binance Academy (coming soon)
- Binance Research (coming soon)
In March 2018, Binance announced the development of the Binance Chain, which will supposedly be a public blockchain. The decision instigated from Binance’s belief that both decentralized and centralized systems will emerge to become one in the long run. As for the technical specs, the Binance Chain will focus on “performance, ease-of-use, and liquidity”. Furthermore, the team revealed that the BNB token will be upgraded upon Binance’s own blockchain MainNet launch.
Many positive opinions have been shared on Binance’s social platform, as Twitter users congratulate their first year of existence. Here are some examples:
Happy birthday #Binance! What a year it has been!
— Igor Nikitovic (@nikitovic_igor) July 19, 2018
What a first year! Congratulations Binance! @cz_binance
— Crypto Clues 🔎🚀🌒 (@crypto_clues) July 19, 2018
Congratulations! Incredible achievement, perfect timing in market and job well done. Just wish i would have been in earlier 😉
— MyVita (@bitman77067349) July 19, 2018