Binance has recently announced its integration of Bitcoin ARC-20 as well as the Inscriptions Marketplace to foster its offerings and blockchain interoperability.
The ARC-20 tokenization on the Atomicals Protocol allows for the creation of fungible tokens which is exclusively held and transferred on the Bitcoin blockchain. These tokens can leverage native satoshis and utilise the Unspent Transaction Output (UTXO) network for transaction history authentication and ownership records.
To celebrate the launch of the ARC-20 token pool, Binance is now offering a zero-fee trading promotion until June 2nd, 2024. This campaign aims to attract potential users and add value to existing community members by significantly reducing trading costs for these cryptocurrencies.
Additionally, Binance’s users can now create wallets within the platform. The company also supports Taproot, a Bitcoin network technical upgrade introduced in 2021, to enhance Bitcoin’s scripts for improved privacy, transaction realism, and increased adoption of smart contracts. Taproot support allows users to seamlessly switch between Taproot addresses and Native SegWit addresses, improving BTC wallet management and empowering users to choose addresses based on their needs.
Binance’s integration of various blockchain networks within its Web3 Wallet enhances user versatility and convenience, offering a diverse range of assets and simplifying digital asset management.
Moreover, Binance has reorganised its Discover page on the Web3 Wallet to enhance navigation and user experience. The redesigned Discover page features three focused tabs, highlighting re-branded DApps, Airdrops, and Forked coins. This redesign aims to make Web3 services more intuitive and customer-oriented.
The firm has also integrated 35 new decentralised applications (DApps) into the Web3 Wallet, providing comprehensive support for users entering the decentralised web. These DApps foster a personal connection within the Web3 ecosystem, offering users a variety of blockchain services directly accessible from their wallet.
