Binance history – World Number 1 Crypto Exchange

Founding and Early History:

Founder:

  • Changpeng Zhao (CZ), a Chinese-Canadian entrepreneur, founded Binance in July 2017.

Funding and ICO:

  • Binance conducted an Initial Coin Offering (ICO) in July 2017 and raised approximately $15 million. The Binance Coin (BNB) was introduced as part of this ICO and is now widely used within the Binance ecosystem.

Initial Growth:

  • Platform Launch:
    • Binance launched its exchange platform shortly after the ICO, offering low trading fees and high-performance trading services.
  • User Acquisition:
    • Binance quickly attracted users by listing a wide variety of cryptocurrencies, offering low fees, and maintaining a strong focus on customer service and security.

Innovations and Expansions:

BNB (Binance Coin):

  • BNB was initially launched as an ERC-20 token on the Ethereum blockchain, but later was migrated to Binance Chain, an independent blockchain developed by Binance.

Technological Advancements:

  • Binance became popular for its high-speed processing capability, reportedly handling 1.4 million transactions per second.

Launchpad and IEOs:

  • Binance Launchpad was introduced to support and launch new cryptocurrency projects through

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