8 More Reasons Why Blockchain Projects Choose Binance Chain
Last week, we talked about 10 reasons why many startups in the blockchain scene have made the switch to Binance Chain. SInce then, more blockchain projects have switched to Binance Chain. Some of these presented new listing proposals for BInance DEX, the community-developed decentralized exchange powered by Binance Chain. Others have simply added support for Binance Chain for their solutions.
There are many ways to support Binance Chain, and there are at least as many reasons that prompt this change. Today, we highlight 8 more reasons in this blog.
1. We like how Binance Chain works
Raven Protocol was actually skeptical of Binance Chain at first, when the community-led blockchain was previewed last year. But the project liked what they saw on Binance Chain, and gave two reasons for its migration. First, they liked how things work on Binance Chain, from straightforward token issuance to great documentation and helpful tools. “Binance has created a way for any project to launch a token with minimal effort. It’s plug and play,” Raven Protocol noted.
2. We like Binance DEX’s chances
Raven’s other reason is actually a vote of confidence in Binance DEX, the decentralized exchange developed on top of Binance Chain. “We believe the Binance DEX has the strongest chance of becoming the primary default exchange of choice for anyone looking to trade. When CZ and the Binance team set their mind to something, they execute until it succeeds,” the team said.
3. We want Binance Chain to support our tokenized privacy-preserving ecosystem
COVA is a blockchain project that preserves privacy through blockchain. “Instead of centralized servers which claim data will be safely computed and stored, COVA democratizes the policy-making process, making users’ preference the most important rule for internet service providers to abide by when processing data,” according to the project, which proceeded to convert some of its tokens to BEP2 tokens.
4. We see Binance Chain as a great blockchain for decentralized finance
Cred, a platform for crypto lending and borrowing, migrated a portion of its tokens to Binance Chain and will become the official lending and borrowing platform for the decentralized finance ecosystem. It did help that Cred has been working with Binance for quite some time, and that the two have committed to work together on leveraging and supporting Cred’s services within the Binance ecosystem.
5. We want Binance Chain to power our payment system for our upcoming streaming apps
Bolt, a blockchain startup that is poised to launch two apps in the summer, is migrating its token to Binance Chain. With the blockchain’s help, the startup will launch streaming app BOLT+, a streaming app, and BOLT Wallet, an app that allows you to use BOLT Tokens to buy mobile data redemption packages and other payments related to its ecosystem.
6. We want to be the first crypto staking platform on Binance Chain
HonestMining, a platform for Proof of Stake crypto mining, migrated its HNST utility token to Binance Chain. “Through migrating to Binance Chain, it could maximize the function of HNST as a utility token and gain more real usage as Binance Chain concentrates on performance and usability,” according to the HonestMining team.
7. We like the support given to us by the entire Binance ecosystem
Contentos, a blockchain project for content that has over 60 million monthly active users, has received support from Binance Labs last year in the form of investment. When Binance Chain launched, it made great sense for the blockchain content project to explore and then adapt the community-created blockchain.
8. We want to be fully interoperable with the Binance ecosystem while maintaining our mainnet
LTO Network, a hybrid blockchain built for businesses, is using Binance Chain as a liquidity chain for its mainnet LTO token. It sees the use of Binance Chain as part of its bigger plan for interoperability with Binance solutions, Following its recent listing on Binance DEX, LTO plans to integrate its mainnet into Trust Wallet.
To know more about how to use Binance Chain, go here.
To submit a proposal for listing on Binance DEX, go here.
Learn more about Binance Chain and Binance DEX here.