The attention of some stockholders was aroused by the interesting partnerships that were formed in the crypto space. The latter happened between Fantom and Binance Chain.
The Fantom Foundation officially made its announcement regarding its collaboration via Twitter on May 22. Some details were posted on the company’s official blog.
The tweet says that the foundation is delighted to announce that they are already part of the Binance Network family. On top of that, they will also be collaborating to create a cross-chain multi-asset ecosystem.
Fantom and Binance Partneship Goals
Through this collaboration, Fantom wants to build a cross-chain and multi-asset ecosystem. The two organizations also seek to improve the interoperability of the digital currency ecosystem.
This project benefits the entire industry. Bringing all industry stakeholders together to be able to create a stronger digital economy is also one of the goals of this alliance.
The cross-chain and multi-asset ecosystem will expand its support to a variety of tokens. This includes the ERC20 token standard, the BEP20 standard token, and Fantom’s very own token.
The official Fantom Post also revealed why the company chose Binance Chain as a partner for the project. The main reason is that the increased number of projects migrating to Binance Chain is remarkable.
The reason for this partnership has led Fantom to do the same, and ensure that other large projects can also benefit from their valuable contributions to the platform. Fantom also mentioned that Binance has the most powerful centralized exchange apart from its liquidity. But, on the other hand, it has a decentralized ecosystem to ensure perfect balance.
Fantom, the world’s first DAG-based smart contract platform, has revealed that Binance is one of the few decentralized exchanges that are extremely user-friendly. Therefore, they wanted to provide their users with the ability to trade and trade with FTM while maintaining control over their tokens.
Fantom’s Security
Fantom also included a quote from Binance CEO Changpeng Zhao in the post. Zhao said that users can store their own coins, avoid hackers on their own, and protect their own wallets.
However, they can also choose well-known exchanges and store their tokens on a secure platform. Alternately, you can switch to DEX, which may begin to disrupt your own assets.
Fantom also expressed his thoughts on the future. The company intends to focus on interoperating the ecosystem in May and June. DCRM’s partnership with Fusion and Binance Chain only marks the beginning.
It notes that Binance, which is the world’s largest cryptocurrency exchange, recovers from a massive hack. This new partnership represents what the platform needs to continue to dominate the market.
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