Binance Chain celebrates 1 year of success with the growth of Binance DEX as the most important volume-related market for decentralized cryptocurrencies.
Yesterday, Binance congratulated the Binance Chain community on the successes it had achieved in the first year of its existence.
Binance Chain celebrates 1 year of success
What did you achieve in your first year?
According to the blog post, Binance Chain and Binance DEX have achieved the following in numbers:
- 80,000,000 “Block height”, which is the number of blocks in the chain between a given block and the first block of the blockchain
- 77,000,000 executed transactions
- 480,000 Directions
- 110 Tokens listed on Binance DEX
- 135 Trading pairs (BNB, BTCB, stablecoin and alternative trading markets)
- 800,000,000 USD in trading volume
How was your development and how did you get support?
As with any project, community support is critical to success. According to the blog post, Binance Chain has received four fundamental updates that have improved the experience of using its blockchain.
- Galileo: This update was done in July 2019. At this point, the “Market Maker” and “Taker” concepts were introduced to improve the experience with Binance DEX.
- Hubble: This update was made in August 2019. At this point, the community stabilized the synchronization processes and there was a security improvement.
- Archimedes: This update was made in October 2019. At this point, the “atomic swaps” between blockchains that support smart contracts and binance chain were introduced.
- Heisenberg: This update was done in November 2019. At that point, the performance of the blockchain was improved and the restrictions on listing transactions were relaxed.
All of this while strengthening your commitment to open source development.
In addition, Binance Chain received the support of the world’s largest exchange with the launch of the EP BEP2 Community Listing Program. “This program was founded because the most successful projects had the opportunity to appear on Binance.com. This obviously had a positive effect on the project and encouraged its growth.
Also the introduction of BEP2 tokens “Supports and connects to major cryptocurrencies that have their own blockchains, including Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, and Tron.” The opportunities for Binance DEX have contributed significantly to this.
All of this has helped it have more than 5,000 members, more than 63 BEP, 29 wallets that support the Binance chain and 7 SDKs at the time of its first year.
Just one day before the anniversary, the launch of Binance Smart Chain was announced, as CryptoTrend reports.
So “The next step … involves adding EVM-compatible programmability and interoperability between Binance blockchains“”
The community is also working on the development of mini-BEP2 tokens with the aim of supporting small and promising projects.