One of the main characteristics of Blockchain technology, and cryptocurrencies in general, is its extreme decentralization. Something that many in the crypto community have assumed as a fundamental value of blockchains. That seems to include Binance, which works under a highly decentralized scheme, as Changpeng Zhao comments in our Tweet of today:
Binance and decentralization
The issue of Blockchain values has generated debate within the crypto community since the early days of Bitcoin’s development. And it is that, for many cryptocurrency users, simply participating in the crypto world means that you are subject to a certain set of values and principles, which you must follow in your actions.
For others, these so-called values do not exist, and are simply a trend towards which a majority of users and companies such as Binance point. But that, at no time, should it be a moral north for all members of the crypto world. Well, they should be free to use Blockchain technology in the way they prefer.
Be that as it may, whether they accept the mandatory nature of these values or not, no one can deny that decentralization has been a crucial part in the development of Blockchain technology. Something that seems to extend to large companies in the sector such as Binance, according to one of the latest tweets from its CEO and founder, Changpeng Zhao:
“I have to confess something. I just read the #BinanceSmartChain white paper for the first time today. No one bothered to send me a copy before it was published. I got the link on Twitter. It is a good white paper. Super excited!“
This tweet, while humorously worded, reveals key elements of Binance’s operation.
Well, unlike what one might think due to the immense popularity of Changpeng Zhao within the crypto world. The exchange seems to operate under a highly decentralized scheme. Which could represent a great advantage, and one of the fundamental ingredients for the success of the company.