Binance Smart Chain (BSC) is a new virtual platform built on top of the Binance exchange (BB) to allow companies to run their financial business using an innovative new way. Binance is primarily a Korean exchange based on the FOREX market. Binance’s chief objective is to deliver low cost, real-time, secured online trading. In order to be a part of the Binance community, all brokers must join Binance’s Platform and participate in its risk management system. This is where Binance gets attractive to brokers looking to make inroads into Asia.
The idea behind the Binance smart chain is to provide traders with a new method for making, managing and trading their money. Unlike most FX trading platforms, with Binance you don’t need to pay transaction fees for your trading activities. Instead, you are able to use your own pre-paid Binance tokens as collateral when you place a trade. These tokens are transferable and have no interest attached.
Binance has devised a smart chain that will help manage and execute all the trades that take place during the course of a typical day. The idea is to enable a company to reduce the costs associated with the management of its diverse portfolio. Binance tokens act just like currency when being transferred from one trader to another, so there are no exchange charges. As Binance collects these tokens, theICO is ready to go.
The Binance smart chain works by allowing brokers to seamlessly convert their Binance tokens to and from the corresponding host exchange. All transactions are managed and executed by a blockchain. The Binance developers chose not to copy the functionality of the Counterparty smart chain because they felt that it might limit the company’s ability to provide fast execution. Instead, they took advantage of the Counterparty’s functionality but adapted it for use in the fx trading environment. The result is that with Binance, FX traders can enjoy fast transaction speeds and the ability to make a variety of small bets without having to wait for an inordinate length of time.
Binance uses two technologies that are relatively new on the forex market: the Open Ledger Technology (OLT) and the Zero Margin Feature (ZFS). Olt and ZFS work together to provide traders with lower transaction costs and a more frictionless trading experience. Olt improves the efficiency of the supply chain by making it possible for suppliers to deliver their goods from a number of locations around the world. Through this method, suppliers eliminate the need for courier companies and other transportation services. This improves the liquidity of the market and allows traders to maximize their profit margins.
The Zero Margin Feature works by allowing suppliers to charge their customers in the event that they do not meet their delivery obligations. With the support of Binance’s own developed software, it becomes easy for suppliers to calculate their margins and make the necessary payments in a timely manner. Since all trades are executed in real time, traders can enjoy considerably lower transaction costs and higher profits. With its proven track record in providing superior products and services, it is not surprising that Binance has already established itself as one of the leading-edge digital currency platforms on the market today. Whether you are a beginner or a professional trader, this is one of the smartest ways to make fast money from the FX market.