BNX BinaryX

BinaryX ($BNX) is the platform cryptocurrency for the BinaryX ecosystem, which includes the DAO and all products & games utilizing $BNX. BinaryX began as a decentralized derivative trading system. Recognizing the burgeoning popularity of GameFi and interest in the metaverse games, the team gradually evolved into developing decentralized video games and is now fully transitioning to be a GameFi platform offering IGO services to bridge Web2 developers to Web3.

Some of the services provided by BinaryX includes infrastructural support, a DAO governance system, and community building to scale promising gamefi projects and bring more innovation to the blockchain gaming sector.

BNX is a BEP-20 token on the Binance Smart Chain. BNX was audited by Certik and received an excellent security score of 83. In an interview, the BinaryX team stated that it chose Binance Smart Chain because of its lower costs, faster confirmations, and greater chain bandwidth, which are all indispensable for an MMORPG game.

BSC is secured through the proof-of-stake consensus mechanism. 21 validators are elected every 24 hours to validate transactions and maintain blockchain security. These validators have to stake a certain amount of BNB coins with Binance to be eligible.