Binance, the giant of cryptocurrency platforms, continues its expansion trajectory with the announcement of yet another altcoin on its list. This time, the chosen one was Dymension (DYM), which stands out with a seed tag and opens the way for spot negotiations.
Starting February 6, 2024, at 15:00 UTC, crypto enthusiasts will be able to trade DYM through pairs with BTC, USDT, FDUSD and TRY.
This move by Binance underlines its commitment to offering a variety of options to its users. With the start of DYM deposits already released, the community is preparing for a new phase of trading, while withdrawals are scheduled to be enabled the following day, also at 15:00 UTC.
➡️ https://t.co/zKk5lMKKWT pic.twitter.com/zjw0xVXMNC
— Binance (@binance) February 6, 2024
But, what makes Dymension a valuable addition to the cryptocurrency ecosystem? The answer lies in its innovative infrastructure. Dymension presents itself as a network of modular blockchains, with impressive processing speed, thanks to its RollApps. These applications are supported by the Dymension RDK (RollApp Development Kit), based on the Cosmos SDK, which facilitates the creation of new solutions.
RollApps operate through a client-server model, where the server allows the implementation of customized business logic and the client, known as dymint, is responsible for generating blocks and efficient communication between layers of the network.
Dymension’s true innovation lies in its ability to leverage the growth of the Cosmos ecosystem and other interconnected chains, thanks to its native compatibility with IBC (Inter-Blockchain Communication). This enables secure and efficient communication between RollApps, Cosmos zones and other ecosystems that support IBC.
Unlike traditional application chains on Cosmos, Dymension RollApps delegate consensus to the Dymension Hub, which serves as a decentralized source of truth, ensuring the regularity and security of transactions.
This launch represents a significant step forward for Binance and the world of cryptocurrencies, offering new possibilities for trading and app development. With Dymension, users have access to a robust and flexible platform, ready to meet the demands of today’s market.
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.