Litecoin/BNB coin pair is now available on the Binance DEX including the latest asset called LTC-F07 and more than 18,500 tokens have been released for trading as we are reading further in the litecoin news today.
In the latest listing proposal, the binance CEO Changpeng Zhao explained the potential of the Litecoin/BNB Coin pair trading on the Binance DEX:
“LTC is decentralized money, free from censorship and open to all. The Litecoin blockchain is the largest global scrypt based network, operating with 100% uptime since 2011 securing billions of dollars of value”
Chanpeng Zhao also noted that the contribution that Litecoin has to offer to the future blockchain progress, especially the Lightning Network and Atomic Swaps. As a new asset, the LTC-F07 is mintable and the total supply will increase with market demand so all of the tokens issued will be backed 1:1 by a native LTC in which the accuracy of the connection will be monitored by an initial verified Litecoin address. The Binance DEX is a side-project of Binance which is currently the largest crypto exchange in the world.
The DEX operates on the native Binance Chain and supports non-custodial peer-to-peer trading of more than 130 assets. Some of the major cryptocurrencies include Bitcoin Cash and Bitcoin as well as other numerous stablecoins which have their ‘mirrors’ on the Binance Chain with actual tokens of the native Binance BEP2 standard. As we reported previously in our Binance news, the decentralized exchange (DEX) is apparently blocking access to users based in 29 countries. The Binance DEX informs potential users of the restriction through a message which appears when someone is accessing the platform from any of the specified regions.
Aside from this, the pop-up which Binance DEX has designed warns about the trading and accessing the wallet interface through the website – and how it will be blocked for users with IP addresses from the aforementioned countries. A lot of people in the crypto community are bashing Binance and have characterized the finding as an indication that the DEX is in fact not actually decentralized. One Twitter user who is well known among crypto enthusiasts named Whale Panda commented:
“Reminder that it was never a DEX so stop calling it a DEX. It’s just a word they used to pump $BNB, it was never meant to be decentralized.”
Binance Announces Support For EURO, KZT And Ruble Fiat Deposits
Binance DEX Will Be Available On The Trezor Hardware Wallet Soon
Binance Chain And BNB Will Be Traceable Through CipherTrace
“Users can rest assured that Binance will uphold its usual high standards of user security and data protection.”Lim also denied to specify to Cointelegraph whether this move will affect the listing of privacy coins such as Monero (XMR) in the future. He said that Binance does not comment on specific tokens and maintains the highest integrity in its listing due diligence process.Binance Chain and BNB are making this major move now, as Lim described it. He said that the move is a “major win for the community-driven Binance Chain,” and that Binance users can soon expect more digital token support surrounding the ecosystem.In the news before, we saw that CipherTrace's support for Binance Chain and BNB follows the expansion of CipherTrace services to up to 700 cryptocurrencies including ETH, USDT, BCH and LTC which was announced recently.
Binance May Open A Chinese Office Following Endorsements From Xi
“We have large respect for data, news and research firms which support the positive growth of the blockchain industry. We will continue to pursue strategic investment opportunities in our mission to bring crypto further mainstream, increase adoption and accessibility, and help the industry grow sustainably.”Meanwhile, the president of China Xi said that the country is prepared to embrace blockchain and crypto, but the country must remain cautious. “Blockchain’s future is here but we must remain rational,” the media outlet People's Daily Online in China reported.
Twitter’s CEO Jack Dorsey To Push BTC Utilization In Africa
Crypto Exchange Execs From South Korea Jailed For Fraud
PrimeBit Offers 200x Leverage On Crypto Derivatives Market
Libra’s Christian Catalini: Central Banks Should See Libra As Improvement
Swiss-Based Crypto Bank SEBA Provides Support For BTC, ETH, XLM
Crypto Adoption In 2020: How Will Things Look Next Year?
Litecoin Gains 2% On The Day, Analyst Outlook Is Bright
Ethereum Co-Founder: “We May Interoperate With China’s CBDC”
Australian Blockchain Firm To Roll Out Its Technology In The Region
ETH Weekly Forecast Shows That There Is A Hold Of Uptrend Support
China Declares Bitcoin As Property! Central Banks Prefer Crypto? SONY “Contactless” Hardware Wallet
JPMorgan Predicts A 60% Recession, Is Crypto The Best Chance Now? | [Bitcoin News // Crypto News]
Ethereum Sees Record Number of Shorts! NEM Blockchain Hub | Samsung Blockchain Supply Logistics
Crypto Jobs Up 300%! Lost BTC 20% Rate of Recovery | Only 45% of Exchanges Meet Security Standards
DC Forecasts Proudly Backed The Global Disruptive Blockchain Innovation Summit
Join us on Facebook
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
- Ethereum News6 days ago
Can Microsoft’s New Platform Help The Ethereum Price To Surge?
- Altcoin News6 days ago
Turkey Will Launch Its Own State-Backed Crypto Asset In 2021
- Blockchain News6 days ago
Ohio Congressman Calls For Blockchain Adoption, Responds To China
- Ethereum News5 days ago
Ethereum Will Improve Outreach With Latest Marketing DAO
- Altcoin News5 days ago
Total Market Cap Retraces Below $250B: Is A Bearish Period Coming?
- Altcoin News5 days ago
Crypto Ownership In Canada Is On The Rise, CBSurvey Confirms
- Altcoin News4 days ago
Silvergate Crypto Bank Goes Public In Listing On NYSE
- Ethereum News4 days ago
Ethereum Istanbul Hard Fork Set To Launch On December 4: Official