- Binance has announced their release of the Binance Chain, which is an Ethereum based chain. Currently, Binance has released the ability to support and convert almost all Ethereum based tokens.
- This is a feature that will not only help investors to get into the crypto space faster, but it will also help Ethereum developers to build better applications on the Ethereum blockchain.
- Binance announced they would support and convert almost all Ethereum (ETH) tokens to their own native Binance Coin (BNB) token.
Benefits of users out of Binance after this announcement
- Binance is the world’s leading blockchain asset exchange platform with a solid reputation. Binance is committed to providing users with an easy and secure environment to use their favourite digital assets.
- Users can get the benefit of crypto-to-crypto conversion. Users can also get the benefits of trading on Binance, such as deposit, withdrawal, and fund transfer.
Binance will add support for conversion of ERC20 and ERC223 tokens to Binance chain. The support for conversion of ERC20 and ERC223 tokens will be a significant benefit for users, as the number of ERC20 and ERC223 tokens is almost limitless.
Conclusion
- This week, Binance announced that they are releasing a new feature that will allow almost all ERC20 tokens to be converted and traded on their exchange, which will allow users to easily convert between their favourite tokens and ETH.
- This announcement marks a major milestone in the journey to becoming the world’s most widely used cryptocurrency exchange. As of today, we are the first major exchange to allow free conversions between all ERC-20 tokens.
