Blockchain
Binance, the world’s largest cryptocurrency alternate, is changing into a node operator on Polymesh and permit staking of the layer-1 blockchain’s POLYX token by its platform by the top of this week.
As a node operator, Binance will assist run the blockchain, writing new blocks to certify transactions that enter the chain earlier than broadcasting them to the Polymesh community. The alternate may even instantly present staking companies to holders of the chain’s native token, letting them reap rewards on their holdings by locking up their tokens for a predetermined time frame.
The intention of the Binance partnership is to advance Polymesh’s mission to make regulated asset buying and selling extra accessible to a variety of purchasers, Polymesh’s management stated.
“Onboarding Binance as the most recent node operator gives Polymesh with an enormous increase in visibility, credibility, and safety,” Graeme Moore, head of tokenization at Polymesh, stated in a press launch Thursday saying the partnership.
Binance will turn out to be licensed as a Polymesh node operator and start producing blocks by the top of this week, in line with Moore. The alternate joins Polymesh’s 17 current node operators.
The worth of POLYX, which started the yr close to $0.11, has been round $0.17 these days. The token has a market capitalization of about $100 million, in line with CoinMarketCap.
