As part of an Ask Me Anything (AMA) Q&A session, a user asked Changpeng Zhao why the BNB Chain ecosystem is not being promoted by the largest trading platform. As the user put it, this is what makes many people think of the BNB coin as a “shithkoin.”
Zhao explained that in addition to its own projects, Binance aims to support other blockchains and cryptocurrencies. Binance prefers its projects, including BNB Beacon Chain and BNB Smart Chain, to remain independent and decentralized. Zhao is convinced that all blockchains should work on a level playing field.
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“People think everything related to Binance is too centralized, but they’re wrong.. You can fully support our ecosystem or let it work on its own. But it’s better to be in the middle,” Zhao replied.
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Zhao added that blockchain and cryptocurrencies are not only used around the world to raise money. Cryptoassets, especially bitcoin, are regarded as a “safe haven” for many people, whose numbers can be in the hundreds of millions;
According to Binance’s CEO, the exchange promotes ether, and Zhao himself is a strong advocate of bitcoin, but also supports BNB. Zhao recently tweeted that even if bitcoin’s exchange rate fluctuates, its usefulness is steadily increasing.
Earlier, the head of Binance said that no amount of regulatory action can destroy blockchain and cryptocurrencies, so it would be much more effective to work out sensible rules for oversight of the industry.