Cyber Capital founder and CIO Justin Bons ignited a fiery debate on Twitter today, claiming that Bitcoin (BTC), XRP, Binance Coin (BNB) and Stellar (XLM) are not true decentralized finance (DeFi) projects.

Bons argued that while BTC has played a crucial role in the rise of cryptocurrencies, it is not capable of handling complex financial products. Furthermore, he asserted that BNB, XRP and XLM are centralized due to their permissioned blockchain architecture. In contrast, Bons listed several projects, including Ethereum (ETH), Cardano (ADA) and Polkadot (DOT), which he believes genuinely embody DeFi principles.

The centralization of certain cryptocurrencies, according to Bons, stems from their permissioned blockchain architecture. Permissioned blockchains require users to obtain permission to participate in the network, and the network’s rules are governed by a central authority or a select group of entities. This structure contrasts with permissionless blockchains, where anyone can join the network and participate in its operation without needing authorization. Bons’ tweet sparked a range of reactions from the crypto community. Addressing the Solana (SOL) project in a follow-up tweet, he stated that although it is technically decentralized and permissionless, it has made dangerous trade-offs in security and scalability to achieve those attributes.

Centralized cryptocurrencies can be more susceptible to censorship, manipulation and control by centralized entities, undermining the core principles of decentralization and trustlessness. However, proponents of centralized cryptocurrencies argue that they can offer increased efficiency, regulatory compliance and better governance.

#Binance #BTC #xrp #crypto2023 #centralized

Changpeng Zhao, popularly known as CZ, is the visionary leader behind Binance, one of the world's most prominent cryptocurrency exchanges. CZ's principles have been instrumental in shaping Binance's growth and establishing it as a trusted platform for millions of users globally. Let's explore CZ's guiding principles and their significant impact on Binance's success.

CZ's User-Centric Approach:

CZ's unwavering commitment to delivering a seamless and secure user experience has made Binance user-centric. By prioritizing users, CZ ensures that Binance constantly improves its services, addresses user feedback, and provides innovative features.

Embracing Innovation and Adaptability:

CZ's mindset of embracing change has allowed Binance to stay ahead in the fast-paced crypto industry. Through pioneering initiatives and technological advancements, Binance has continuously adapted to meet the evolving needs of its users.

Trust and Transparency:

Building trust is at the core of CZ's principles. By prioritizing transparency, security, and regulatory compliance, CZ has established Binance as a trusted and reliable platform. CZ's active engagement with the Binance community through social media and open communication further promotes transparency and fosters strong relationships.

Global Expansion and Collaboration:

CZ's global perspective and inclusive approach have facilitated Binance's expansion into diverse markets worldwide. By embracing diversity and collaborating with industry players, governments, and institutions, Binance has strengthened its ecosystem and promoted cryptocurrency adoption globally.

CZ's principles serve as the foundation of Binance's remarkable success. Through a user-centric approach, embracing innovation, fostering trust and transparency, and pursuing global expansion, CZ has transformed Binance into a powerhouse within the crypto industry. By adhering to these principles, Binance continues to revolutionize cryptocurrency accessibility and empower millions worldwide.

Changpeng Zhao - The Man Behind Binance

Changpeng Zhao, Popularly known by CZ, The Most Prominent public figure in The crypto market was born in the ordinary family in China and in the late 1980s, their  family moved to canada. In his Teenage, we worked in Burger shops and gas stations tofill his pocket.

At Montreal’s McGill University he studied computer science. At first, he developed the trade matching software for Tokyo Stock Exchange and then build a software for future trading. In 2005, we moved to Shanghai and started providing trading systems for brokers.

In 2013, he began to learn about Bitcoin and  Blockchain Technology, then he joined Blockchain.info as a head of Development. He even worked at OKchain, one of the leading cryptocurrency exchanges as a chief technology officer and then, he decided to start his very own Cryptocurrency Exchange Binance

The Timeline of Binance

The breakout of ICO is one of the most factor for the birth of binance

The Launch of BNB - July 08, 2017

In the initial days, 1 ETH equals 2.7k BNB and 1 Bitcoin equals 20K BNB. Now at the time of writing, 1 BNB = 0.010 BTC

Binance Exchange Launched  - July 14, 2017

On this fine day, 14th July, 2017, Binance has launched. with in just 45 days, binance has reached 120k active users and nearly 4k new registrations And Binance has gained a decent ranking in the CoinmarketCap within the short span of time

Binance Lab - October 2017

Binance Lab is the venture Capital of Binance started with the motto to empower Blockchain and cryptocurrency projects and to extend support to budding crypto preneurs

LaunchPad - November 2017

Binance Launches launchpad and Launch pool for token listing. It provides all the support for business persons from Token Advertising before the Launch to Marketing

No 1 in coinmarket cap - December 2017

On December 17, 2017, Binance acquired the first position in the coinmarketcap just 6 months after the launch.and exceeds 1 billion USD. 

Reached 6M users - Januray  2018

In January 2018, Binance reached around 6M users.

Trust Wallet Acquisition - July 2018

Trust Wallet is an open source, anonymous, Decentralized Ethereum Wallet that supports ETH tokens which is the first public acquisition of Binance to provide  safe and secured services to the users.

Binance Academy - August 2018

Binance Academy is the free online education portal that helps traders as well as ordinary people to explore in detail about Blockchian technology,Bitcoin Market, Crypto Industry trends, etc,

Binance Charity - October 2018

Binance Charity is the non-profit organization raised for a good cause. During the outbreak of COVID-19 crises, binance has donated 3 million USD.

Binance Chain - April 2019

Binance Started realize the importance of its own blockchain and launched Binance Chain

Acquisition of Wazirx -November 2019

Binance Acquitted the indian based Peer to Peer Cryptocurrency exchange wazirx and it is considered as its second public acquisition

Binance DEX - February 2020

Binance launched its decentralized order matching engine which is built securely on the Binance chain that lets traders proceed with the trading without any intervention of third parties.

Binance Smart Chain -  September 2020

Binance smart chain is the blockchain that runs parallel to the binance chain which is EVM compatible that has the capability to run alone when Binance chain went offline

Highlights Of Binance

1 Platform for NFT Marketplaces:

Now, NFT is the hottest trend, Binance Smart Chain act as a platform for many NFT marketplaces.

2. Binance NFT

Binance is planning to launch its own NFT marketplace, Binance NFT which will go live by June 201.

3. Binance Coin - BNB

Both Binance chain and Binance Smart Chain use BNB as a gas fee. it powers many projects which run on the binance chain and a kind of payment method for many NFT Marketplaces

4. Binance Earn

Binance Earn is the kind of Crypto saving account that holds many options to earn passive income. 

5. Binance Card

A Binance Card is a kind of Crypto powered debit card, one can even use this card to buy candies. One can use BNB, BTC, etc, to pay bills via this card

6. Crypto Loans

Binance Provide Crypto Loans with no hidden fees. Users can borrow BTC, ETH, USDT, and open to choose the loan duration ranging from 7 days to 180 days

7. 15 M Daily users

It supports multiple languages and gains users all over the globe, it's daily global users are estimated as 15 Million. It provides services in Android, IOS, Web

8. 125X Leverage:

 It supports Futures trading and margin trading which can give leverage upto 125x

Binance always stays hungry to find new opportunities that would help the global trader to make use of cryptocurrency in an effective and in an easiest way. The exchange and its team have a great adoption characteristic to “exchange the world” through new crypto trends.

#Binance #binancepizza #BNB #cryptocurrency #centralized

The demand for the implementation of Blockchain technology to enhance the security of online transactions and critical business operations has experienced a significant surge. Blockchain has emerged as the most secure application for critical business infrastructure, particularly in sectors such as finance, transportation, and medical industries. However, as the adoption of this technology has increased, it has also brought to light various potential security threats and vulnerabilities. These security threats can be categorized as deliberate and accidental. Deliberate threats are those planned by a dedicated team with specific objectives and target victims, often referred to as attacks. On the other hand, accidental threats, also known as unplanned threats, can be caused by natural disasters or any actions that may result in damage to a system. It is widely acknowledged by experts that Blockchain is susceptible to vulnerabilities stemming from software design flaws, hardware requirements, and protocol-related issues, which can lead to various types of threats within the technology and its applications

The vulnerability of asymmetric cryptography within blockchain technology, specifically the Elliptic Curve Digital Signature Algorithm (ECDSA) for transaction authentication, has been recognized in the context of quantum attacks. ECDSA serves as a widely utilized signature algorithm in Bitcoin, a prominent technology within the blockchain domain. Unlike #centralized networks, blockchain operates as a decentralized network, providing enhanced resistance to tampering. Researchers from the National University of Singapore (NUS) have revealed that Quantum Cryptography minimizes entropy within the system, thereby reducing noise. However, the implementation of quantum cryptography exposes weaknesses in the asymmetric cryptography utilized for digital signatures. In response to this vulnerability, a new signature authentication scheme for blockchain has been suggested, incorporating the lattice-based bonsai tree signature as a protective measure (Hasan et al., 2020). The loss of private keys during a cyber-attack is a common threat in the realm of cybersecurity. To address this, the authors have proposed a private key safety model that involves securely storing the sub-elements of the private key across various operational profiles and incorporating multiple character salts as a shared subsequence within each profile. Additionally, the authors have implemented syntactic, semantic, and cognitive safety controls to establish interdependence among these profiles. Another emerging threat is cryptojacking, also known as drive-by mining, which covertly utilizes individuals' devices to mine #Cryptocurrencies without their consent or awareness. In response to this threat, a detection approach called MineSweeper has been proposed, relying on the cryptographic functions of #Cryptojacking codes through static analysis and real-time monitoring of CPU cache. Furthermore, selfish mining poses a significant threat to the integrity of the Bitcoin network, where a group of miners deliberately withhold a valid solution from the rest of the network to undermine the efforts of honest miners. To mitigate this, a modification to the Bitcoin protocol has been suggested to prevent profitable engagement in selfish mining by mining pools smaller than ¼ of the total mining power. Additionally, vulnerabilities in the peer-to-peer (P2P) layer of cryptocurrency networking have been identified, allowing transactions to be linked to users' IP addresses with over 30% accuracy. To address this, Dandelion++, a lightweight and scalable solution, has been proposed to enhance anonymity using a 4-regular anonymity graph. The presence of Bitcoin nodes exhibiting anomalous behaviour patterns associated with illegal interests has led to the development of a behaviour pattern clustering algorithm to tackle this issue. Furthermore, specific transaction patterns have been employed to cluster nodes owned by the same entity, with the objective of efficiently extracting data from the extensive Bitcoin network.
Routing attacks, which entail partitioning and slowing down the Bitcoin network, present additional challenges. To mitigate these threats, short-term countermeasures such as increasing the diversity of node connections and measuring round-trip time, as well as long-term measures like encrypting Bitcoin communication and utilizing #UDPN connections, have been recommended.