Category Archives: Binance Chain

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Decentralized Degree Verification Platform TrustED to Launch TGE on Binance Chain

Trusted

As a digital ledger technology that stores information, perhaps the best property of the decentralized system is its immutability. Data, once entered on the ledger, is not editable, let alone deletable, unless the majority of the nodes agree to roll back. This specific property has its uses, especially where authentication and verification is of paramount importance.

Authenting Credentials

TrustED is an Australian decentralized platform that utilizes the immutable nature of blockchain technology to record the issuance of academic credentials, such as degrees and diplomas. The platform allows partner universities and other academic institutions to store their degree data, issue the said degrees and allow verification on the TrustED ecosystem.

The use of blockchain for such an endeavour brings in a lot of ease when it comes to verifying educational certificates. Today, firms and organizations all around the world are ever more focused on ensuring that the employees are being truthful with their resumes. Verification of certificates is a complex and time taking procedure. Authentication becomes even more difficult when employees are from different countries. TrustED simplifies the procedure, with anyone able to verify authenticity of issued degrees at lightning speed. The immutable nature means that the data uploaded cannot be changed, so users know that what they are viewing is original, making authentication easy.

TrustED Platform on Binance Chain

TrustED has partnered with Binance, the largest cryptocurrency exchange, to launch their Token Generation Event (TGE) on their propriety blockchain ecosystem, the Binance Chain. Binance Chain offers one of the fastest block time of 1 second, resulting in a near instant transaction speed.

TrustED will be one of the first platforms to launch on the Binance Chain, utilizing its top of the line security, speed and efficiency. TrustED’s CEO, Kosta Batzavalis, was very excited about partnering with Binance:

Being one the first projects on Binance Chain is not only an honor but also a massive stepping stone for the TrustED project.With Binance technology behind us, TrustED can deliver on SLAs and security requirements necessary to make a blockchain-based academic solution enterprise-grade.”

Ted Lin, Binance Chain’s Chief Growth Officer was also happy about TrustED’s decision to utilize Binance Chain for its academic certificate verification system

Binance Chain and the introduction of the Binance DEX enables thousands of crypto tokens and companies to utilize the technology in an efficient and effective manner. We’re excited to have TrustED be one of the first startups to utilize Binance Chain and look forward to the growth that is to come in further bringing cryptocurrency mainstream.”

TrustED Future

TrustED was launched in 2017, with a single minded focus of bringing academic certificates on the blockchain for authentication and verification. The platform is also planning to hold its TGE in the coming future. The platform will be the first to launch on the Binance Chain and will utilize the BEP2 token protocol.

The TrustED platform also provides educational material to institutes to learn about blockchain and how can they use the platform to store and issue their certificates.

For more information on the academic credential verification platform, visit their website: https://www.trusteducation.io/

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Binance Releases Preview of Binance DEX, Launches Own Blockchain

Binance Releases Preview of Binance DEX, Launches Own Blockchain

Binance, the #1 spot cryptocurrency exchange in the world with USD 0.5-1 billion of daily trading volume, will launch the Binance decentralized exchange (DEX) in early 2019.

A video preview and the launch of its own blockchain has seen a major rally for its native token, BNB, with its market cap increasing USD 150 million, rocketing it to #13 on CoinMarketCap with a market cap of USD 800 million. This is likely because speculators expect that Binance DEX users will be buying up BNB in order to pay for trading fees and voting on the Binance DEX.

The Binance DEX will allow users to completely control their crypto assets in their own wallets, issue new assets, suggest trading pairs which will be voted on by the community and potentially added to the DEX, and trade for any cryptocurrency on the Binance DEX without having to hand over any identification information.

Its own blockchain, the Binance Chain, will be the backbone of the Binance DEX and all trades on the exchange will be recorded on the blockchain. It appears the Binance Chain has an extremely fast block time of 1 second or less, facilitating instant confirmation of trades. Binance Token (BNB) will be the native cryptocurrency of the Binance Chain and the Binance DEX, and will be used to pay trading fees.

Aside from issuing tokens, trading cryptocurrencies, and proposing new trading pairs, users on the Binance DEX will be able to send and receive tokens peer to peer, burn tokens, and freeze tokens. Binance DEX will be community run, and is intrinsically decentralized since it runs off of the Binance Chain. At this time, based on the video, it appears no know your customer (KYC) information is needed to create an account, preserving the anonymity of users.

The developer in the video says new features will be added to Binance DEX before launch. The true degree of decentralization and anonymity of the Binance DEX will only be known once it launches.

 

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