Tesla binance bridge
Binance is entering the tokenized stock trading space by enabling its users to trade tokenized Tesla stocks, the cryptocurrency exchange giant announced on Monday. The exchange detailed that each stock token will represent a single unit of the company share. It is a basic characteristic of every financial asset - be it a currency, stock, bond, commodity or real estate. The more liquid an asset is, the easier it is to sell and buy on the open market.
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Content:
- Here's everything going wrong at Binance, the world's biggest crypto exchange
- Hackers have stolen $80 million in cryptocurrency from the Qubit DeFi platform
- Elon Musk has put cryptocurrency markets in a spin, again.
- How to Transfer Tokens Between the World's Leading Blockchains
- Binance offers Tesla stock token, could Coinbase (COIN) follow?
- Binance Coin (BNB) Price Predictions: Where Does BNB Go After Tesla Stock Token Launch?
Here's everything going wrong at Binance, the world's biggest crypto exchange
Binance Smart Chain is a smart contract -enabled public blockchain designed to run parallel to Binance Chain, the native blockchain of major crypto exchange Binance. The cross-chain compatibility with Binance Chain allows users to benefit from the advantageous features witnessed in the latter while simultaneously supporting the programmatic flexibility inherent to smart contract blockchains.
This feature provides the growing DeFi space with another alternative to the Ethereum ETH blockchain with two differences:. It is an independent blockchain that can function without Binance Chain. The community-led initiative explained the relationship between the two, stating:. The Binance DEX will remain a liquid exchange venue of assets on both chains.
This dual-chain architecture will empower its users to build their decentralized apps and digital assets on one blockchain and take advantage of the fast trading to exchange on the other. The cross-compatibility supports cross-chain transfer and plans are underway to support cross-chain contract events.
By leveraging interoperability, users have exposure to a vast ecosystem that can support many use cases. Given the segmentation of the DeFi market, pundits claim this is a major step in the right direction. In theory, this makes it easy for developers to port their projects over from Ethereum. For users, it means that applications like Metamask can be easily configured to work with BSC. BSC employs a type of proof-of-stake as its consensus mechanism.
If the validators propose a valid block, they are entitled to a portion of the fees levied on the transitions included in the block. While the use of PoSA allows the blockchain to achieve its fast block times, critics argue that it is prone to centralization.
Proof-of-stake consensus mechanisms are likely to struggle with centralization as validatorship is available only to those who can meet the financial eligibility requirements, effectively cutting out a large portion of the community.
Those who meet validator requirements can theoretically collude to maliciously alter the blockchain. However, it is important to note though that the validators are economically disincentivized to follow this course of action as it would likely affect their fees and the value of their staked holdings.
Despite only few months of being live on the mainnet, Binance Smart Chain is already creating some buzz in the DeFi community. There are a number of decentralized applications that are already enjoying growing popularity, most notably PancakeSwap and BakerySwap.
Both projects have been granted funds through Binance's Accelerator Fund. PancakeSwap is one of the most popular offerings on the BSC blockchain. It is an automated market maker AMM that allows parties to deposit liquidity in a pool in exchange for a portion of the fees levied on trades.
Given its yield farming features as well as its support of Metamask due to its EVM interoperability, it is no surprise the AMM is attracting users. PancakeSwap has been among the top liquidity providers on Binance Smart Chain in terms of volume, active users, and gas fee contribution. It is similar to PancakeSwap in architecture and design with a few differences. Finally, it is possible to participate in BakerySwap through Trust Wallet, a mobile wallet for the Binance ecosystem.
This is an added advantage for mobile-first sections of the global populace. Enter your email for our Free Morning Newsletter. Alex Lielacher. Latest news. DeFi News. Altcoin News. Bitcoin News. NFT News. Industry Talk. Similar News.
Hackers have stolen $80 million in cryptocurrency from the Qubit DeFi platform
TeslaSafe is a frictionless, high-yield, auto deflationary crypto much like bitcoin on the Binance Smart Chain. This is a token that could potentially 10x, x and even x in the near future with the most advanced tokenomics created. This blockchain network runs in parallel to the Binance Chain. The speed and low fees of this specific blockchain offers our community the added interoperability and affordability of facilitating investments via MetaMask and other wallets. Calculate most efficient deflationary models. Soft launch for marketing will commence. Social Media accounts will be created.
Elon Musk has put cryptocurrency markets in a spin, again.
File pic: Representations of cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, and Litecoin are seen in front of a displayed Binance logo in this illustration - Reuters. His latest announcement will usher in a new era of commerce and trailblaze a path for altcoins to expand their use case," said Chris Kline, co-founder of Bitcoin IRA. Tesla sells apparel, 'Giga Texas' belt buckles and mini models of its vehicles as well as quirky limited-edition items such as the 'Cyberwhistle', which is modeled after its much-awaited Cybertruck. It recently launched a quad bike 'Cyberquad' for kids, also modeled after the truck. Musk , a cryptocurrency supporter, has often endorsed dogecoin and said it is better for transactions, most recently in an interview to the Time magazine, which named him "Person of the Year" for on Monday. He had asked users in May if they wanted Tesla to accept dogecoin in a Twitter poll. He had called dogecoin a 'hustle' during his guest-host spot on the "Saturday Night Live" comedy sketch TV show in May. Musk , who has over 66 million followers on Twitter, has been highly engaged in this year's retail trading frenzy, tweeting about cryptocurrencies and helping send their prices soaring. The EV maker stopped accepting bitcoin for car purchases, less than two months after the company began to accept the world's biggest digital currency for payment. Elon Musk has put cryptocurrency markets in a spin, again.
How to Transfer Tokens Between the World's Leading Blockchains
All rights reserved. Charles St, Baltimore, MD Investors are rushing to find the next cryptocurrency to blow up after the breakout quarter for altcoins. While Wall Street speculates on the next coin to see meteoric gains , one pick is rising to the top. This morning, Binance announced its newest coin option.
Binance offers Tesla stock token, could Coinbase (COIN) follow?
What Happened: BurgerSwap, a decentralized automated market maker built on Binance Smart Chain BSC , was subject to a flash loan attack earlier today, which resulted in a significant loss of funds. Igamberdiev also shared a snapshot of block explorer Etherscan , which revealed that the stolen funds were being sold and withdrawn to Ethereum via the Nerve Bridge. Why It Matters: Although DeFi protocols that facilitate token swaps are a major part of the ecosystem, exploits are unfortunately not an uncommon occurrence. Following the massive uptick in illicit activity on Binance Smart Chain, crypto intelligence firm CipherTrace announced support for the blockchain and said the integration would give onlookers the tools to identify any suspicious on-chain activity. Download the mobile app now, available on iOS and Android. Click here , or sign up for our newsletter to explore more of Benzinga's Cryptocurrency market coverage, in-depth coin analysis, data, and reporting.
Binance Coin (BNB) Price Predictions: Where Does BNB Go After Tesla Stock Token Launch?
Spell token in binance. Notably, part of the jackpot funds will be redirected to development, marketing, token burns, airdrops, within the Crypto Drop ecosystem. After a successful seed round, the Gaia EverWorld team announced a non-fungible token sale NFT through a partnership with the NFT marketplace Binance, secured a financing round from Polygon Basis and successfully completed the token sale. Binance will list spell. Traders who were vigilant enough could catch the red flags that the platform portrayed from the beginning. For instance, the creators of Squid Game claimed that Tesla CEO Elon Musk endorsed the token coupled with other visible spelling errors on the website. Listed on : HitBTC. Estimated Time of Crosschain Arrival is min.
In order to expand interoperability, the platform which is built on the Ethereum Mainnet is enabling new use cases through this bridge. The integration will allow for advanced smart contract capabilities as well as massive computation for the LABEL Foundation to bring more sustainable, scalable, and secure performance for its users. One pain point for users who transact on the Ethereum blockchain has been the high fees associated with its activities. The blockchain has grown to become the home of DeFi and as such has seen increased network activity.
Ripple is a technology that acts as both a cryptocurrency and a digital payment network for financial transactions. Ripple's main process is a payment settlement asset exchange and remittance system, similar to the SWIFT system for international money and security transfers, which is used by banks and financial middlemen dealing across currencies. The token used for the cryptocurrency is premined and utilizes the ticker symbol XRP. Ripple is the name of the company and the network, and XRP is the cryptocurrency token. The purpose of XRP is to serve as an intermediate mechanism of exchange between two currencies or networks—as a sort of temporary settlement layer denomination.
Image Credit: ShutterStock. The global cryptocurrency market has seen a rally recently. However, having said that, there have been several cryptocurrencies that have been trading green and even rallying to new heights over the course of the last few days. The reason behind those coins gaining specifically was Elon Musk. Though at the time of this article the coin showed to be trading red at 3. With this in mind, there have also been several underdog crypto coins that have seen immense gains over the last 24 hours according to CoinMarketCap.
Each digital token represents one share of equity stock and is fully backed by a depository portfolio of underlying securities that represents the outstanding tokens. Users will be able to trade fractional tokens. The first stock tokens announced will be of Tesla, the largest automaker by market capitalization, and their minimum trade size is one-hundredth of a stock token, representing the same fraction of a Tesla share.
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