What is Binance?

The Binance Chain was created and co-founded by Changpeng Zhao and Yi He in 2017 in as a high-speed cryptocurrency blockchain. The Binance company was originally located in China but later that year it moved its HQ and servers out of the country prior to China’s September 2017 ban on cryptocurrency trading. Three years after founding, Binance released the Binance Smart Chain (BSC) as an EVM-compatible blockchain to support smart contract programming. Two years later in 2022, Binance merged its Smart Chain with its Binance Chain to create its new BNB Chain as a Proof-of-Stake blockchain. The merger created a fast, efficient, and streamlined blockchain to support the growing DeFi cryptocurrency sector. Binance operates with both a centralized and a decentralized exchange.

Explore Binance

Check out the Binance website to learn more about their featured components. Clicking on the below pic will take you to the Binance Ecosystem webpage.

Decentralized Exchange

Pancake Swap is a Automated Market Maker (AMM) decentralized exchange that was built using the Binance BNB blockchain. Within the AMM construct, Pancake Swap users trade with an established liquidity pool instead of trading against the traditional order book style of trading. Trading isn’t based on matching buys with sells so that users experience rapid trading speeds. Pancake Swap is a popular decentralized exchanges and utilizes its CAKE token which can be used in staking, governance, and to pay for transaction fees.

Trust Wallet

Trust Wallet was acquired by Binance in 2018 to become its primary self-custody cryptocurrency wallet. Trust Wallet was originally developed as an Ethereum wallet and has quickly gained over 100 million users. This popular mobile wallet allows users to send and receive cryptocurrencies while providing users with access to more than 100 blockchains. Trust Wallet can be used as a mobile wallet or as a wallet extension on your favorite PC browser.