Binance, the world’s largest cryptocurrency exchanges in terms of trading volume, recently announced the launch of a new project, Harmony [One] on Binance Launchpad. The platform’s token sale, which will be initiated on May 19, 2019, at 23:59:59 UTC, will be governed by new rules.
This announcement comes a day after the exchange went through a maintenance upgrade, owing to the recent security breach that cost the exchange 7000 BTCs worth $41 million. The launch of Harmony [One] token on the platform is the fifth time a project has kick-started its journey via the Binance Launchpad.
The announcement on Twitter read,
Introducing the Harmony [$ONE] Token Sale on @binance Launchpad
Please note that Lottery Rules have changed to make them more inclusive and fair!
It’s time to allocate your $BNB tokens and claim your tickets!
Thanks to our community for the support https://t.co/2skHR8wO2o pic.twitter.com/rdRkyUsKxt
— Harmony [@harmonyprotocol] May 16, 2019
The rules have been revamped to make the process more transparent and comprehensive. The new rules introduced for Harmony [One] stated that all average BNB holdings would be calculated over a cycle of seven days. Also, users are empowered and would be authorized to sign the Token Purchase Agreement, up until the closure of the ticket claiming period. Further, the token sale would not be open for users in certain regions, including Croatia, citing legislative limitations.
The market uptrend has been supportive and has pushed forward the launch of new token sales that follows a lottery format. It has been a less productive phase for Binance this week since deposits and withdrawals were temporarily suspended after a security breach.
Following the announcement of the token sale, Capital Dad, a Twitter user said,
“Great! Lottery with avg
$bnb holding can be very good solution 🙂 Thank you #binance!”
Subscribe to AMBCrypto’s Newsletter
Bitcoin’s censorship resistance, freedom make it a game changer in the economic industry
Over the years, the global economic industry has witnessed significant changes. However, no change has been more significant or essential than the one introduced by the concept of virtual assets or Bitcoin. Today, Bitcoin and other virtual currencies are almost as essential as fiat money and despite the fact that digital assets have not reached worldwide adoption, the pace of growth has been substantial.
In a recent panel discussion, Jedidiah Taylor, CEO and Founder of Decent.Bet, the smart contract-based sports betting platform, stated that the idea of Bitcoin and blockchain technology projected a perspective of freedom and honesty which allowed individuals to have direct control over their own capital, without any oversight supervision from financial institutions.
The sentiment was followed by Nico De Jonghe, Founder and CEO of NDJ Investment Group, who added that the threat of decentralized assets loomed the largest over centralized institutions like banks, who were worried of the future prospects offered by Bitcoin and its impact on the long-term financial situation.
Tone Vays, a reputable analyst and Bitcoin proponent, opined and stated that Bitcoin’s biggest strength was the fact that it was completely “unconfiscatable” and that one’s BTC is completely safe if it is protected and secured with attention. The characteristic of censorship-resistant value transfer is also an absolute game-changer for Bitcoin, allowing it to competitively exist in the financial system.
The value of Bitcoin has often been criticized in the past, but its valuation has consistently proven its worth. In fact, Bitcoin has grown by more than 150 percent in 2019.
At press time, Bitcoin was priced at $11,371, with a market capitalization of over $202.18 billion. The staggering valuation of an asset that was unheard of 10 years ago, further underlines the potential of Bitcoin in the current market scenario and for the future economies.
Subscribe to AMBCrypto’s Newsletter