Binance coin (BNB) News – Why is Binance giving away the best cryptocurrency performer?

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Will you be interested in gaining Binance coin (BNB) without investing anything? If yes, now is your chance. Binance coin (BNB) is one of the best performing cryptocurrencies of the past few months. The answer is, it is looking for testers for its a decentralized cryptocurrency exchange. Anyone who is interested in testing this decentralized cryptocurrency exchange will gain Binance coin (BNB).

Why is Binance giving away the best cryptocurrency performer?

In a recent announcement, Binance announced that it is giving away $ 100,000 in Binance coin (BNB) if anyone wants to participate in the test and trading competition. It is trying to gain users and developers who can point the flaws in their decentralized exchange. The question is why is it organizing such a giveaway. It can simply hire a testing company and get the same results. The truth is that such public testing and competitions can help it roll out the cryptocurrency exchange at the most faster pace. We will look at three probable reasons why Binance is going this route rather than hiring a testing company.

Genuine Testing:

The developers who take part in the trading competition will be genuinely motivated to find the flaws. The giveaway will motivate them to look deeper and harder as compared to any testing company. That is why it will be like the hackers finding a vulnerability in the decentralized cryptocurrency exchange. It will help Binance stitch up most of the loopholes and make sure that the decentralized cryptocurrency exchange is much more secure before the rollout.

Testing in different environments:

Different developers and members of the part in the trading competition will use different environments to find a loophole. It is not possible for any single testing company to improve people from different backgrounds and with different mindsets to find a flaw in any system. That is why the testing from the different environments will help Binance test the platform without having to hire anyone in particular. It will also get inputs from the individuals participating in the competition themselves regarding any flaws.

Flawless rollouts:

When you’re launching any new product, your reputation is always at stake. If there are glitches and loopholes in the Binance decentralized index, its brand will take a hit. That is why it is giving away $ 100,000. US$ 100,000 is actually a small amount considering the brand value of Binance. That is why, if it can achieve flawless rollouts thanks to the $ 100,000 competition which it is holding, it is actually pretty affordable for the exchange to do so. It is one of the main reasons why the exchange is going this route rather than any other.

So, on the face of it, it might seem like Binance is giving away a lot of money to find a few loopholes but it is actually in the interest of the cryptocurrency exchange to do so. It can gain a significant amount by just holding a competition worth US$ 100,000. The fact that it is one of the largest cryptocurrency exchanges in the world, this amount is actually pretty low.

About Manish 352 Articles
I am an avid crypto lover and a electronics & telecommunications engineer by qualification. I follow the cryptocurrency & blockchain industry closely to focus on the latest news & developments.

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