Changpeng Zhao reveals Binance's plans and future
Changpeng Zhao reveals Binance's plans and future
Changpeng Zhao, head and founder of cryptocurrency exchange Binance and one of the most influential people in the digital industry, held a Twitter AMA session to discuss Binance's prospects, such as the Lightning Network and the platform's presence in Dubai.
During the session, Zhao discussed Dubai's growing role as a global crypto center, which is becoming increasingly attractive to crypto companies.
The Binance chief also spoke about the cryptocurrency exchange's growing presence in Dubai. He mentioned that the exchange has more than 700 employees in Dubai and has plans to expand its team, TheNewsCrypto reported.
Changpeng Zhao also shared some ideas for crypto investors. He said that investors should do their own research on investing and not follow advice just because it comes from a famous and popular personality.
During the AMA session, Zhao shared some information about the exchange's Lightning network. The exchange uses a secure wallet infrastructure where addresses are pre-generated in a separate, secure environment. However, it is not possible to pre-generate addresses for the Lightning network, so the exchange is developing a new, more secure method to implement this.
"Every exchange needs to support the Lightning network so that users can take advantage of the network, such as cheaper and faster transactions," said the head of Binance.
As a reminder, Binance would remove the perpetual LUNC contract from its asset list.
Binance is not only one of the largest cryptocurrency exchanges but also a platform for the creation of cryptocurrency business projects. The crypto exchange has its own platform based on the TradingView toolkit.
