The world’s largest cryptocurrency exchange Binance has made big moves for 3 altcoins. These include supporting the mining of an altcoin project and the launch of a new cryptocurrency and technology. Here are the details…
Binance will support mining of Ethereum Classic (ETC)
Binance’s mining pool, Binance Pool, said it will support Ethereum Classic (ETC). This news precedes the Ethereum Merge upgrade, which is expected to take place on September 15. With Merge, the Ethereum network will switch to the Proof-of-Stake consensus mechanism. Thus, the old Ethereum miners will be useless. Now Binance Pool is announcing that it will charge “zero” mining fees for ETC mining until October 9.
Binance Pool is among the best mining pools in the world. Currently, the firm is the 7th largest mining pool for ETC mining and 12th for Ethereum (ETH) mining. The pool, which wants to benefit from the transition of Ethereum to PoS with Merge, is trying to attract Ethereum miners. Many analysts expect Merge and ETH miners to switch to ETC. Currently, other mining pools such as Ethermine, Antpool, BTC.com, and F2Pool also support Ethereum Classic (ETC).
BAB, the new token of the BSC ecosystem, is launched
BAB, the new and unique token of the Binance ecosystem, has been released. BAB token on BNB Chain will be a new digital identity for the exchange. With the token, it will serve to authenticate users. Users will have the advantage of confirming their identity in KYC transactions with BAB. It should also be noted that this token is the first exchange-based cryptocurrency to emerge for this purpose.
A Binance user who has verified his identity in the past will get various benefits with BAB on BNB Chain. When the user prints a BAB, they will have the opportunity to participate in the project creation processes and win an award. In other words, BAB will both reward users and serve as their identity on the stock market. Users will also have access to some specific features such as participating in NFT airdrops with BAB.
zkBNB announcement from Binance Blockchain
Binance has also released a new technology called zkBNB to improve the experience of its users. With zkBNB, the exchange aims to bring proof of zero knowledge to the BNB ecosystem. The main purpose of bringing the technology to the network includes improving the scalability of Blockchain. cryptocoin.comAs we reported, Ethereum also has a proof of this technology called zkEVM.
ETH creator Vitalik Buterin has said in the past that proof of zero knowledge is a good solution for scalability. In fact, the famous Blockchain founder mentioned that it could work in the long run. For those who don’t know, zero knowledge allows you to complete certain operations without entering detailed information. For this, he uses some mathematical formulas and proofs. Thus, it increases the speed and security of the existing network.
