One of the main features of blockchain technology and cryptocurrencies in general is their extreme decentralization. Something that many in the crypto community have adopted as the core value of blockchains. This seems to include Binance, who works according to a highly decentralized scheme, as Changpeng Zhao explains in our comment Tweet from today:
Binance and decentralization
The problem of blockchain values has led to discussions in the crypto community since the beginning of Bitcoin development. For many cryptocurrency users, simply participating in the crypto world means that you are subject to certain values and principles that you must follow in your actions.
For others, these so-called values don’t exist and are just a trend that a majority of users and companies like Binance point to. But at no point should this be a moral north for all members of the crypto world. Well, you should be free to use blockchain technology the way you prefer.
Regardless of whether or not they accept the binding nature of these values, no one can deny that decentralization has been a critical component in the development of blockchain technology. According to one of the latest tweets from its CEO and founder Changpeng Zhao, this seems to be spreading to large companies in the industry like Binance:
“”I have to confess something. I read the #BinanceSmartChain white paper for the first time today. Nobody bothered to send me a copy before it was published. I got the link on Twitter. It is a good white paper. Super excited!“”
Although humorous, this tweet reveals key elements of Binance’s operation.
Well, contrary to what one might think due to Changpeng Zhao’s immense popularity in the crypto world. The exchange seems to work within the framework of a highly decentralized system. This could be a huge benefit and one of the basic ingredients for the success of the company.