This article is written by one of our contributor Richard Kastelein.
BCPT is a utility token which is required to enable the recording of data through the Credit Protocol to programmatic blockchains, such as Ethereum. As a developer of base-layer blockchain technologies, the Blockmason team is always looking for ways to expand the usability of their innovations. Launching BCPT on Binance Chain allows Blockmason to explore a new blockchain venue, assess the potential and suitability of cross-blockchain Credit Protocol transaction recording as well as the scaling of transaction capacity beyond what is currently capable on Ethereum. As Binance Chain grows, the Credit Protocol and BCPT will grow with it, presenting new opportunities for decentralized app developers and users alike.
Binance Chain is a blockchain software system developed by Binance and the community, and the forthcoming Binance Decentralized Exchange (DEX), as one of the first tokens to be available to users. Binance DEX is the decentralized exchange feature developed on top of the Binance Chain blockchain, offering low latency and high throughput with one-second block times and one-second confirmation finality.
Binance DEX carries over the best features of Binance.com in a decentralized setting while offering the benefits and security of a DEX. On Binance DEX, users maintain control of private keys and funds, ushering in a new era of peer-to-peer trading. Listing BCPT on Binance DEX ensures that DApp developers and others who build Credit Protocol-powered DApps that interact with Binance Chain will be able to obtain BCPT for their needs.