Binance Chain Technology

“I think projects are attracted to Binance Chain for its security, speed and ease of use”- CZ

Security

The paradigm shift from centralised to decentralised is the cornerstone of security improvements for the Binance ecosystem. Time and time again we hear about major breaches in security because of centralised services becoming a ‘honeypot’ too sweet to ignore. Maintaining custodianship of your own ‘money’ (read: crypto) is the only way to avoid these honeypots and falling victim to a large hack.

With Wallet Connect, available through Trust Wallet for example, you keep control of your funds until the time you choose to disperse the funds; whether is be across a Decentralised Exchange (DEX) or a marketplace of services like CanWork.

Speed

At ~300ms there is no doubt that Binance Chain and the dApps built upon this blockchain, are quick; very quick. The UX of transactions this quick cannot be understated, things have to happen at this speed for any peer-to-peer (P2P) marketplace to thrive.

The ‘speed’ of the network is also two-fold. Many improvements have been required of the nascent Binance Chain blockchain and the implementation of these changes are very swift! Just recently the CanYa team submitted BEP39, to add a memo field to the transfer websocket, and this change has already been actioned.

Ease of Use

The excellent developer documentation, speedy transaction times and collaborative nature of Binance Chain makes it a dream to build upon; just ask any developer building on it! The CanYa dev team have submitted numerous Binance Evolution Proposals, such as the aforementioned BEP39, in order to shape Binance Chain to the needs of a marketplace.

With the native support of an industry leading wallet, the Trust Wallet, access to Binance Chain, the Binance DEX and any BEP2 dApps is simply at your finger tips. The Binance ecosystem continues to expand and with each day comes more improvements to Binance Chain and the underlying infrastructure to access it.