Binance Chain will charge "close" to $100k to list new coins, says CZ

09 Feb, 2019
by Richard Allen
News
Binance Chain will charge close to $100k to list new coins, says CZ

Binance CEO Changpeng ‘CZ’ Zhou revealed during a 45-minute live AMA that the company’s decentralized exchange, Binance Chain, will charge “close” to $100,000 for listing new coins.

CZ explains that he deliberately wanted to set the fee higher than usual so they can reduce the amount of spam and scam projects. So while the fee will be in the ballpark of $100,000, CZ does explain that it is adjusted over time, saying “it’s quite easy to change.”

Read more: CZ states upcoming Binance Chain will be "more like NEO or even Ripple"

When asked how many validator nodes Binance Chain will run, CZ explains that “the number of validator nodes in our network will be small, mainly for performance reasons,” stating that for the testnet, they have elected to run 11 test nodes.

He added that they are looking for people who can run very fast validators and can protect validators from DDoS attacks, explaining that for the time being “nodes will be selected through our close partners,” but that over time the number of validator nodes will increase.

While it may not be as decentralized as some other networks, it is in keeping with a statement CZ made last year saying that "there is no absolute decentralization."

Read more: Binance records profits of $446 million in 2018

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Read more about:BinanceChangpeng Zhao

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