What does Binance Chain do? (Will Binance Chain go to zero?)
Binance Chain does everything. Editor\’s Note: This article is from Binance Chai
Binance Chain does everything. Editor’s Note: This article is from Binance Chain (ID: binancechain), written by Wang Jiajian and authorized for reproduction by Odaily’s Planet Daily.
During a blockchain event on August 28, 2018, Bifrost founder Wu Jihan said: “I think the position we are in now is very different from the future. From this perspective, ‘playing while earning’ is a great investment opportunity.” As a project, its team is mainly responsible for building the entire system. “Binance Chain does everything,” “Crypto Vault + DPOS Mining,” “Binance Staking,” and “Binance Cloud Computing.” However, in addition to providing storage for mainstream digital assets such as Bitcoin and Ethereum, complex tasks such as cross-chain protocol development and smart contract debugging are also required. This makes Bifront a new decentralized service ecosystem.
Will Binance Chain go to zero?
If BTM issued on Binance Smart Chain goes to zero, it will not drop to 1 USD.
Binance Chain is an open-source project with its own algorithm and incentive mechanism, but its codename is BTKB. The goal of Binance Chain is to transform BTC into a tradable asset and a means of value exchange.
However, this process requires a lot of computing power and consumes a lot of electricity to maintain the network operation. Because blockchain itself has many problems: for example, user data leakage; for example, attackers steal users’ bitcoins; and some people use this public chain for scams, etc.
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