World’s largest cryptocurrency exchange Binance has announced that it is launching Binance Info 2.0, a dedicated new platform that aspires to be the most comprehensive and useful crypto rating database in the world.
The exchange said in a press release Sep 19, 2018, that it has already analyzed more than 1,400 coins and tokens as the project enter beta. A full-fledged launch is expected to follow in the coming months.
Binance has so far had an excellent record as one of the leading crypto exchanges around today. It didn’t take the company even a year to climb its way up to the top as the world’s largest crypto exchange by trading volume. With those impressive feats under its belt, Binance is perfectly poised to leverage its reach in the market to address the incoherent static affecting the global crypto community.
Basically, Binance Info 2.0 has the potential to serve as a guiding light across the crypto ecosystem’s chaotic environment. Users can benefit from its simple and intuitive interface, as well as the rich collection of scrutinized tokens and coins to learn how any given blockchain network operates.
“[…]our goal is to help users learn more about the blockchain projects in our ecosystem. These project evaluations are free to download for all users — so, whether you’re looking for more information on a project’s white paper, utility or founding team, you can likely find the answer at Info.Binance.com,” Binance stated while announcing the new initiative.
The five-tiered rating system introduced by Binanice is actually an upgrade comprising more than 1,000 reports from 50 globally influential media, ratings, and capital agencies. To ensure that the new offering has no dearth of takers, Binance has made all project evaluations available for free.
Meanwhile, the primary objective of the third party rating system is to spread awareness and practical knowledge about digital assets using an interactive platform alongside a (soon-to-be-released) video rating queue.
All goes as per plan, these new offerings by the exchange might render unilateral research work completely irrelevant. After all, there’s no alternative in the market yet that so extensively encompasses white papers, project token supply, founding biographies, and real-time candlestick charts as Binance Info 2.0 does.
Additionally, Binance also seems to have given a great deal of importance on simplicity and ease-of-use
“On the Info home page, you’ll see the rating reports listed alongside a banner showing the top four active coins. Each report shows the name of the project, source of the reports, and each agency’s unified rating on a 5-star scale,” the Binance announcement stated, adding that individual project overviews can be accessed “with a single click”.
Overall, while it is obvious that questions will be raised on the issue of crypto exchanges offering their own crypto rating (which is understandably susceptible to manipulation), many in the community are likely to welcome the new initiative by Initiative. If not for anything else, then surely for the reason that they would rather have an actual crypto company publishing ratings and rankings rather than some external agents such as government think tanks or financial services providers dealing in conventional assets.