Binance Coin (BNB) overview: Binance Chain to be launched on February 20

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  • Binance CEO announced the date of the Binance Chain launch for public testing.
  • BNB/USD retains the position of a market leader.

 Binance CEO Changpeng Zhao announced the date of Binance Chain launch. The blockchain network behind the upcoming decentralized Binance exchange will go live in a test mode on February 20.

“Finally got a date.  Targeting to release Binance Chain testnet (@binance_dex) for public testing on Feb 20th.  This is a testnet, your feedback would be most valuable,” he wrote on Twitter.

Binance Chain is built on the Tendermint protocol developed by the Cosmos Network project. According to Zhao, its architecture suits the requirements of the new cryptocurrency trading platform.  Binance DEX blockchain will operate on Delegated Proof of Stake, DPoS and Byzantine Fault Tolerant, BFT.

Also, he explained, that Binance Chain is basically a Tendermint fork with reduced functionality. Namely, they deleted smart-contracts and many other functions irrelevant to their project. Changpeng Zhao believes that high performance is of higher priority than a lot of unnecessary features.

The platform users will be able to issue tokens based on Binance Chain and launch ICOs to raise funds in BNB tokens.

Meanwhile, Binance Coin (BNB) touched all-time high against Bitcoin at 0.0026880 BTC and reached $9.68 against USD.  Currently, it is changing hands at $9.61, gaining 0.85% on a day-over-day basis.

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