2018-11-13 20:00 |
Leading cryptocurrency exchange Binance launches altcoin research lab. The lab will focus on analyzing the investment potential of projects and sharing this information with the general public.
The Launch of Binance ResearchBinance launched its research lab November 8th. Starting this week, in-house research teams will conduct thorough reviews and perform due diligence on each of its listed coins.
The reports are touted as the first “institutional-grade” research performed by a major cryptocurrency exchange.The research team — comprised of investment bankers, blockchain engineers, journalists, data scientists, and academics — will provide all reports free-of-charge on Binance Research.
Each report focuses on the following points:
Token sale Distribution economics Go-to-market progress Trading data Coding audits Adoption metrics Competitor overview Volume and price analysisMoreover, in addition to the above metrics the company mentions that it will also include more subjective metrics.
The company plans to review most major projects, even those not listed on Binance. According to the lab, these reports will be continuously updated and maintained as additional information from these altcoins becomes available. The reports are aimed at increasing the “standards for transparency in the industry overall.”
Binance Grows its EcosystemThis year Binance has entered several new business verticals. Two notable examples are educational portal Binance Academy and cryptocurrency database Binance Info. By leveraging advantages as a cryptocurrency exchange the company is able to provide high-quality information in each vertical.
A comment from Binance outlines the move away from operating as a pure cryptocurrency exchange:
“With the evolution of Binance from crypto trading platform to the blockchain ecosystem, we welcomed the responsibility of being a trusted thought leader when it comes to the blockchain.”
The first projects slated for analysis are GoChain and Loom Network. GoChain is a scalable blockchain solution that supports smart contracts and inter-chain interoperability, while Loom Network is a layer-2 Ethereum scaling solution focused on dApp building.
The post Binance Launches Cryptocurrency Analysis and Altcoin Research Division appeared first on CryptoSlate.
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