What has improved in the New Binance Upgrade.?

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Binance, one of the largest cryptocurrency exchanges in the world, recently announced that they successfully upgraded its trading platform. Earlier, Binance announced that they were going to upgrade their trading platform, the upgrade took about 2 hours. All deposits, trading, and withdrawal were disabled on spot and margin trading, P2P trading, OTC Portal trading, savings & redemption, as well as asset transfers from sub-accounts at the time of the upgrade.

 

The company has had major upgrades since 2017. Some were noticeable and some were not. Many Binance upgrades were aimed towards improving the performance of the trading platform, as well as giving the best user experience to their users.

 

A year ago, Binance introduced staking, lending cryptocurrency, and margin trading. Not only that, but Binance has also introduced other projects since the start of 2020, which includes Binance P2P and Binance B2B. Binance P2P operates similarly to LocalBitcoins and Paxful, it allows users to buy cryptocurrency from an individual using an escrow that protects buyers from fraud. Binance B2B, B2B means business to business, it allows platform owners to integrate the “buy crypto” option to their site using Binance access standard API, it allows users to buy cryptocurrency using fiat currency, the cryptocurrency is then stored in the user Binance account.

 

The number of active users using Binance has increased with a high amount since the last 3 years. Upgrades and improvements as needed to keep Binance striving.

 

As pointed out by a Twitter user, Binance was already able to manage their existing volume, which begs the question: what exactly has been upgraded? 

CZ, Binance CEO tweeted that the platform is:

“PROBABLY 10X MORE, SO IN THEORY CAN HANDLE 100X VOLUME. BUT WHEN REAL VOLUMES HIT, THERE WILL BE SOME OTHER PERIPHERAL SYSTEMS THAT MAY TEMPORARILY BOTTLENECK, BUT WILL BE FIXED QUICKLY.”

 

 


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