Red Pulse Integrates With Binance
Red Pulse is among the newer class of cryptocurrencies which promises groundbreaking research content to provide valuable & relevant insights to consumers. The digital asset has gained traction lately because it avails the research data that has been gathered over 6 years in different segments. The parent company is from China and its token is represented by RPX. The Red Pulse blockchain has been created on the NEO blockchain and it makes use of NEO smart contracts to expand its operations.
The company has finally decided to merge with the crypto exchange giants Binance to help the exchange leverage its tokenization research and knowledge on the Binance chain. Binance Chain is the new blockchain software system developed by the parent company Binance. The partnership would see Red Pulse to moving a significant portion of their token ecosystem onto the newly formed Binance chain.
The company’s blog post about the integration read,
“We recognize the immense value that Binance has contributed to the cryptocurrency community at large, and are looking forward to becoming an active participant in their new decentralized ecosystem and driving greater real-world applications of blockchain, specific to the knowledge and information space.”
What This New Partnership Would Lead To?
The initial phase of the partnership would see the launch of a new BEP-2 token called PHB, which would be the native token of operation on the Binance chain. In later stages, Red Pulse is also looking to migrate NEP-5 PHX tokens on Binance.com to BEP-2 PHB tokens, which will then be tradable on both Binance.com as well as Binance DEX, the newly launched decentralized exchange platform.
Red Pulse made it clear that the users who are in possession of the PHX token on the main binance exchange will see their token migrated to PHB automatically, while the exchange will continue to support both forms of the token. The total circulation supply of PHB and PHX will remain the same as before. The Red Pulse also promised continuity and transparency in regards to the market-driven token price and market cap. Along with that, the Redpulse.com platform would also continue the support for the native NEP-5 PHX tokens.
Red Pulse Would Continue Its Close Nitted Partnership With NEO Blockchain
Red Pulse and NEO share a closely knitted working relationship, as the Red Pulse tokens are based on NEO blockchain and also make use of various functionalities like smart contracts. The red pulse network is also leveraging NEO blockchain infrastructure to create their own legacy with Phoenix infrastructure. The Red Pulse’s Phoenix infrastructure help in registering intellectual property such as research notes and whitepapers, which can be stored in the form of non-fungible tokens.
Red Pulse is also planning to develop an identical infrastructure on the Binance chain, once the network becomes mature. The founding member and CEO at Red Pulse, Mr. Jonathan Ha said,
“We remain dedicated to developing the full potential of the Red Pulse Phoenix tokenized knowledge and information platform and will keep you informed of our progress.”
Binance Is Not Just A Crypto Exchange Anymore
Binance is primarily known for being one of the leading crypto exchanges in the world and unlike many other exchanges which resort to using fake trading volumes to attract the customers to their platforms, Binance’s numbers are trusted and respected in the community. However, Binance is not just a single company, but its a consortium of many companies like Binance academy, the Binance chain and of course the Binance Decentralized exchange.
Binance’s native token Binance coin has also made waves with its uprise throughout 2019 which saw it touch its highest price point since its inception in 2017. While earlier the Binance coin was only considered as a utility token for operating on the exchange, its price rise has made it quite a valuable digital asset which lead to its listing on various exchanges around the globe.
Now with the recent string of partnership and launch of new platforms, Binance is looking towards forming a complete blockchain ecosystem of its own.