Binance Smart Chain (BSC} is a leading enterprise-grade network that connects the world’s largest asset management companies via a distributed ledger. BSC is based on the codebase of Binance, an e-commerce web-site that simplifies the complex process of creating, managing and trading digital assets. The core members of the Binance Smart Chain include the global investment banking firm Morgan Stanley and its North American subsidiary, Merrill Lynch. BSC was created as a way for these investment banks to leverage their collective purchasing power and reduce the cost of doing business by reducing the risk of trade defaults. Binance works closely with several other major asset management companies including Morgan Stanley, Merrill Lynch, Goldman Sachs and JP Morgan Chase Bank.}
Binance smart contracts are executed through a distributed ledger such as the Binance smart contract system (BDCS). Binance’s Binance smart contract platform is supported by a number of industry-standard transaction execution and settlement protocols, as well as custom protocols developed by individual investors and institutions. The Binance smart contract system and the underlying technologies it uses are based on ideas and concepts from the Security Investors Protection Corporation and the Financial Industry Regulatory Authority. In addition to standard transactions, many funds use Binance’s Binary Options functionality, which handles the execution of limited risk or counter-trend trades without requiring any long-term commitments to such investments. Binance also supports a variety of non-standard asset transactions, including customized asset management solutions and foreign exchange options.
The Binance Smart Chain project started as the demo of a new zero-stop cycle asset trading system based on the concept of an offshore chain. This idea was later taken up by Binance and launched as Binance tokens. Binance tokens are fractions of one financier’s actual deposit in a currency pairing. One advantage of this system is that it enables investors to trade in real market-driven scenarios without needing the resources and expertise of a professional trader. Since tokens are tied to deposits, they act as guarantees for the performance of the underlying financial instrument. The aim is to help novice and professional traders alike to increase their daily transactions while avoiding unnecessary fees.
Binance tokens are also traded on the Binance marketplace using the Shape Trade platform. The concept of Shape Trade is similar to that of other decentralized application strategies. These strategies allow users to trade using real market-driven scenarios rather than depending on speculation and guesswork. Unlike the Binance smart chain project, Shape Trade uses actual money as a payment medium. Shape Trade tokens are generated by the owners of the tradeable token account and are not governed by any governing organization. Binance’s Shape Trade team, which consists of a team of twenty-six developers, has worked relentlessly on developing the platform and making it compatible with the various trading styles and strategies.
Binance’s other two smart contract functionality providers include ChainTrace and Metatrader. Both developers have extensive experience in building blockchains and improving theICO portfolio. Chaintrace is responsible for developing the MetaTrader trading platform and managing the Binance marketplace. Its other offerings include Forex Trading, Real Estate, CFD Trading, and CFTC Trading. The Metatrader team specializes in providing efficient enterprise grade trading applications and has offered the Binance smart contract capability.
Binance boasts an extensive list of service providers. The marketplace is made more competitive by the presence of these brokers and they play a significant role in the overall success of the Binance platform. In terms of service scope and price, the service fees are relatively low as compared to other market caps. Binance is also unique in that it offers the only fully featured, fully testable, fully scalable, and compliant fully distributed ledger technology. This includes all of the advantages and benefits of having a fully operational and flexible fully operational virtual private network (FOC).