Blockmason & Binance Launches Blockmason’s Credit Protocol Token on Binance Chain
According to a recent report, Blockmason alongside Binance is set to launch a new token called Blockmason Credit Protocol Token (BCPT) on Binance Chain. The token will be one of the first tokens to be available to users on the upcoming Binance Decentralised Exchange (DEX).
Binance DEX is the decentralised exchange feature which was built on the Binance Chain blockchain. It provides low latency and Hugh throughput with one-second block times and one-second confirmation finality.
The new currency is a utility which is needed in order to ensure that data is recorded through the Credit Protocol to programmatic blockchains like Ethereum. Due to that, the Blockmason team creates base-layer blockchain technologies, they are continually in search of methods to expand the usability of their innovations. As BCPT is being launched on Binance Chain, it enables Blockmason to look for a new blockchain venue, assesses the potential and suitability of cross-blockchain Credit Protocol transaction recording and also the measurement of transaction capacity beyond that which it can do on Ethereum. The rate of development of Binance Chain will affect the rate at which BCPT and Credit Protocol will grow thereby opening several doors to developers of the decentralised app and its users.
Features available on Binance DEX includes the maintenance and control of private keys and funds is done by the users, ushering in of s new era of peer-to-peer trading. The listing if BCPT on Binance DEX allows DApp developers and others who build Credit Protocol-powered DApps which interact with Binance Chain to purchase BCPT for their use.
Binance Chain is a blockchain software system is a community-driven development project which was created by Binance and the community. It was created by many developers and contributors from several countries globally.