Major Crypto Exchanges Building Own Public Chains to Defy Ethereum

Public chains are becoming increasingly popular in the crypto world. It states that Binance, was one of trendsetter because of its intentions to fight the ETH hegemony

Wed, 29/08/2018 - 18:19

Major Crypto Exchanges Building Own Public Chains to Defy Ethereum

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Yahoo reports that public chains are becoming increasingly popular in the crypto world. It states that Binance, the biggest cryptocurrency exchange, was one of trendsetter because of its intentions to fight the Ethereum hegemony.

Listing ERC20 tokens on Binance simply gave Ethereum more exposure, but they did not get any financial incentives from the Ethereum network. Subsequently, the crypto behemoth announced about launching its own public chain, aiming to replace Ethereum-based tokens.

Remarkably, other major exchanges in the likes of Huobi and OKEx have already followed in Binance’s footsteps. Some experts predict that it could cause a visible damage to Ethereum.

#Cryptocurrency exchange

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.