Binance Chain Testnet Active
The testing network for Binance Chain has been launched quite soon after the announcement made by the CEO of Binance, a large cryptocurrency exchange. One of the main reasons to create this Delegated Proof-of-Stake blockchain was to make Binance Coin independent from the structure of Ethereum. Binance “Coin” is actually an ERC20-based token which indirectly undermines its uniqueness for investors. The same blockchain will also become a basis for the new decentralized exchange (DEX).
Speaking about the launch of Binance Chain testnet, the parent company CEO Changpeng Zhao (also known as CZ) confirmed the intention of Binance to create this new blockchain as soon as possible:
“At this stage, we simply want to develop the best DEX as fast as possible. We are still figuring out some functions as we go and will be asking traders for feedback on the testnet, in order to iterate and improve on it quickly.”
The price of Binance Coin (ticker: BNB, Coinmarketcap’s #10) has jumped up since January 30 2019, as seen on the price aggregators online. At the time of the initial jump, Binance has activated an opportunity to buy digital currencies with credit cards. In the last three month, BNB has grown 125% (approximately from $4.8 to $10.8 USD).