Binance To Buy Stake In The Top Japanese Cryptocurrency

  • Binance that is a platform for trading over a 100 different cryptocurrencies.
  • Binance had conducted a delegate voting, which was about staking of lisk.
  • This is a very big motivation for the developers as the time they will spend building the applications will be well worth it.

Virtual currency Lisk that ops the charts in Japan has now caught the attention of Binance, who plans to buy a stake in Lisk. Binance that is a platform for trading over a 100 different cryptocurrencies.

The company has been, since 2018, considered as the biggest cryptocurrency exchange in terms of the trading volume. Founded in July 2017 by Changpeng Zhao and Yi He, the company is headquartered in Malta.

Binance had conducted a delegate voting, which was about staking of lisk. Although Binance did not make any announcements regarding Lisk’s staking, it has been said that the chances of providing Lisk’s staking service to users of Binance in the near future are due to voting cases.

Lisk is a blockchain application platform, that was established in early 2016 by the founders Max Kordek and Oliver Beddows. Lisk enables its developers to create blockchain applications, distribute the apps, and manage them using their sidechain link with the whole lisk system, which also includes a custom token.

With all the credit going to their highly flexible sidechains, the developers can customize and implement the blockchain applications made by them entirely. Lisk, unlike any other popular app store, for example, apple application store and google app store, credits and pays well to its developers.

This is a very big motivation for the developers as the time they will spend building the applications will be well worth it. With Lisk’s consensus (DPoS) mechanism, you can get the chance to earn rewards by voting on delegates.

This is the case of voting for the delegates. It has been confirmed that 5.33 million LSK were locked for voting. With the latest updates in Binance and Lisk, they have launched a USDT denominated Lisk trading pair. They provide liquidity through stable coins.

The highlights of Lisk are the progress of development, the block reward expiration date (from 2LSK to 1LSK) ahead of this year, and the implementation of the new DPoS scheduled for the 4th quarter of this year.

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Parth Vig
Parth Vig is a Management student, and a keen observer of Cryptocurrency and blockchain technology, his interest in writing brings him to thecoinrepublic.com, He believes that he has many ideas that he pens down and he feels it would be a great asset for any kind of creative writing.

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