Binance, the largest crypto exchange has grown way beyond being just another crypto asset trading platform. The team behind the largest crypto exchange has thrived to create an empire of its own, and they are moving towards that goal with every passing year. The journey started with the crypto exchange which gradually became one of the most trusted and largest crypto exchange in the decentralized ecosystem.
Binance is considered as one of the most trustworthy for its trading numbers, as it does not resort to unethical means or wash trading to inflate their trading figures which is quite a norm with many other crypto exchanges. The founder and CEO CZ himself is known to provide transparent and trustworthy analysis from time to time.
Binance was quite early in realizing the potential of the Distributed Ledger Technology and the future of crypto, thus they kept their goals dynamic instead of focusing on just one aspect of a trading platform. Binance has several sidearms like the Binance Academy, a platform which provides quite detailed publishing on various topics related to blockchain and crypto assets. Binance Launchpad is another sidearm which functions as the token sale platform and has been quite successful in endeavors it has undertaken in recent times.
Apart from Binance Academy, Binance launchpad, the firm also recently launched a decentralized exchange which is going to be the future trend of the crypto space. Thus, it’s fair to conclude that Binance has established an empire of its own, due to its far-sightedness and honesty on its platform.
Crypto space is quite cruel and the future of any firm is as volatile as any crypto, this is the reason many crypto exchanges and service providers who were at the top of their game a few years back have either gone bankrupt or looking for a shutdown, however Binance has been able to tap on the needs and demands of the community and has been ethical in its various endeavors making it one of the most reliable names in the decentralized space.
Binance Could Become the Facebook of Decentralized Space
Binance has adopted the dynamic approach in its consensus, where they have created a product that can be scaled and modified as per the changing times, and other future ventures can be connected to the main network. The dynamic growth of Binance in such a short period of time has attracted many comparisons and the most suitable one is Facebook.
Facebook was launched as a social media platform for users to connect with their friends and family instantly sitting anywhere in the world. It was not the first concept of its kind, but regular software development and addition of new features have made it an integral part of our life. As of today, Facebook has become a lifeline and as a platform, it is way more than just another social media platform for chatting with your friends.
Similarly, Binance started out as a crypto exchange but the team behind it did not stop just because they became the largest crypto exchange. They kept their goals long term and looking at their stronghold they surely have become more than just another crypto exchange. Another important development that proves the value of Binanace as a firm is its native token Bincence coin(BNB). BNB token was launched as a utility token to be used for ease of operation on the exchange, however, the token which started out at $0.009 in 2017 is currently trading at $21.48. It also reached its all-time high price a few weeks ago.
Thus, Binance as a firm has not just shown dynamic growth over the years, but it has kept the momentum irrespective of the trends in the market, which in itself is a great achievement, given market trends have pushed many cryptos oriented businesses which have been successful at one time towards the crypto graveyard.