Blockchain
Binance, the world’s largest cryptocurrency change, is turning into a node operator on Polymesh and permit staking of the layer-1 blockchain’s POLYX token by way of 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 change may even instantly present staking providers 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 goal of the Binance partnership is to advance Polymesh’s mission to make regulated asset buying and selling extra accessible to a variety of shoppers, Polymesh’s management stated.
“Onboarding Binance as the most recent node operator offers Polymesh with a large increase in visibility, credibility, and safety,” Graeme Moore, head of tokenization at Polymesh, stated in a press launch Thursday saying the partnership.
Binance will change into approved as a Polymesh node operator and start producing blocks by the top of this week, based on Moore. The change joins Polymesh’s 17 current node operators.
The value of POLYX, which started the 12 months close to $0.11, has been round $0.17 currently. The token has a market capitalization of about $100 million, based on CoinMarketCap.