Mr. Changpeng Zhao or CZ .. as he is known…
… is the creator of the largest cryptocurrency exchange in the world!
The founder of Facebook, Mark Zuckerberg is famous for saying Move fast and break the rules.
Perhaps CZ is best known for a philosophy of Until you clarify the rules, we will make our own.
I consider CZ to be one of the least known, but one of the most influential persons in cryptocurrency.
- From his philosophy of simplicity, to his focus on customer service, defined as provide what the customer wants to trade: cryptocurrency tokens, ERC tokens, NFT tokens, staking tokens, EVM compliant decentralized exchanges, EVM compliant staking and yield farming projects, cross blockchain bridges, nonfungible tokens as art… decentralized exchanges as a service… you name any cutting edge trading opportunity or entrepreneurial cryptocurrency niche and he provides infrastructure, money and expertise to grow it on Binance or Binance Smart Chain.
- And both his blockchains are faster and cheaper then Ethereum.
- In some ways he is one of the most under appreciated forces in the cryptocurrency universe.
Binance did what?
- When the little guy investor was being priced out of decentralized finance on Ethereum due to high gas prices where did those little guys go? Binance Smart Chain.
- When Coinbase was down for the 13th time during a cryptocurrency crisis leaving it’s investors funds frozen, which exchange was still trading? Binance
- When Coinbase announced it was freezing 22,000 Russian trading accounts in an effort to freeze the accounts of less then 100 Russian oligarchs, who refused to freeze the wallets of Russian traders? Binance.
What’s up with Binance?
Aren’t they suppose to be the bad guys?
Why is it left to them to help out the little guys priced out of decentralized finance on Ethereum?
Why is it left to Binance to defend the most important principles of decentralization when Coinbase freezes 22,000 Russian accounts?
Why do they provide an exchange with the most cryptocurrency listings?
Why does Binance provide a decentralized exchange which competes with it’s centralized exchange Binance, called PanCakeSwap which routinely is either the largest decentralized exchange or second place to the largest decentralized exchange in the world Uniswap?
Why are they proving a cloud based service I call centralized exchange as a service which has allowed a new centralized exchange to be created by French developers with access to all the cryptocurrencies traded on Binance and world famous Binance trading volume liquidity but under European ownership and European country approval?
If they are the bad guy, why do they provide a form of delegated proof of stake almost exactly like Hive, except more paid witnesses, and a witness system which supports witnesses supported by and controlled by hundreds of community members, in what maybe the most democratized delegated proof mechanism in existence?
These are questions you should ask yourself.
Remember
- The world of cryptocurrency, blockchain, proof of work, proof of stake, delegated proof of stake and decentralization isn’t black and white, good or bad, it’s full of shades of black, white and gray.
- Do your own research, choose your own friends, chose the services which best meet your needs, and provide reliability and safety for your funds.
- Thus is the new economic frontier, the governmental authorities are here to protect you. So while it’s a wonderful place of independence, democratization and financial opportunities. It is also potentially a dangerous place for the uninformed, under educated and quick to categorize.
- Move slowly my friends around snakes, used car salesmen and cryptocurrency.
:-)
Title Picture credit:
Fortune Magazine: April/May 2022 Edition