Binance Chain will compete with the Ethereum blockchain

As Changpeng Zhao noted:

“If you use only ERC-20 tokens, then I see no reason to continue to remain on the Ethereum blockchain. At Binance Chain, you get the opportunity to reduce the term of verification of transactions to one second, and this confirmation is the first and last that is required for the transaction to take place. However, for the time being, Binance Chain will not support other types of tokens, but in the future “we can upgrade this system to expand the range of digital assets”.

The head of Binance also reminded that the over-the-counter trading platform for cryptocurrencies has recently started working, and on the way is a decentralized platform for buying and selling digital assets, the demo version of which was introduced in early August last year.

In addition, this year Binance intends to launch nine more cryptocurrency sites in different countries of the world, which would trade cryptocurrencies for ordinary money (Fiat). Recently, this year, a similar platform was launched on the island of Jersey, and even earlier, in 2018, a similar platform was successfully launched in Uganda. As noted by Zhao, the platform on Jersey is faced with extremely high demand for the purchase of cryptocurrencies using the euro and British pounds, with which it works.

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