Binance is not a foolproof exchange
Binance is not a foolproof exchange. A few recent incidents have shown that hackers can manipulate prices on Binance to harm crypto investors. This is because of the centralized nature of Binance. It has a single point of failure. It is in good hands so it is unlikely to fail but it is not foolproof by design. I know of one exchange that is planing a foolproof design (Kyber Network).
FYI, I own both Kyber Tokens, KNC and Binance Coin, BNB. Crosspost.
may you please provide some sources for these claims?
could you tell us your reasons as too why the Kyber network is superior to Binance other than decentralization?
Kyber Network can't be hacked. It only has its downside such that it will have high fees.
Or maybe not. Kyber is implementing a version of plasma specifically made for it.
Kyber is better in the sense that people who will use kyber won't get hacked. It is designed in a way that is immune to hacks. It has a downside which is higher fees but this fee may change with scalability updates. Gormos update will allow huge transfer throughput for kyber exchange and will decrease trading fees.
Kyber will also work for mass adoption of crypto and allow merchants to accept payments in crypto. I don't know if it is a threat to Request Network (well both are targeting the same market) but I am invested in both (one will most likely succeed xD).
Thats part of being unregulated. It also goes to show that crypto is not fully functional as a "new" monetary system just yet.
Yes, and I believe Kyber is one of the missing pieces for crypto mainstream adoption.
thanks for replying to your own posts, i just wrote an article about it today. So your getting a follow. Thanks for being a credit to steemit :)