Binance has invented in the past: whether in the Initial Exchange Offerings, the introduction of a Decentralized Exchange, or the possibility of Future trading and Lendings. Binance always manages to be on the pulse of the time to stay and establish itself as the Central Institution, if it is only to the trade of crypto-currencies.
We pay particular attention to the latest Service: the Binance Cloud today. What is behind the concept of a private Cloud, the growth potential is and we are inundated now by a wave of new Exchanges? – In this article, we dedicate ourselves to all of these questions!
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Binance surprised with in-house Cloud Solution
After Binance CEO Changpeng Zhao (CZ) in the context of an AMA on 07. February, gave the first indications of a new Service, it is now, since yesterday, officially: Binance extended their product portfolio to a new Service called Binance Cloud. – But what’s behind it?
According to the announcement (see source), which is the Binance Cloud is a “All-in-One infrastructure platform for customers and partners who want to launch a Crypto Exchange based on the leading Standards of Binance in terms of technology, safety, liquidity, and safekeeping services.”
In simple terms, Binance provides us with your Cloud now the complete technology and infrastructure stack, we need to launch a Crypto Exchange. The functions in the first Version of the Cloud are limited to the ‘core functions’ of the Exchange. This means that additional Services, such as Staking Support, Over-The-Counter trade or a built-in Initial Exchange Offering platform are not first integrated.
Now, since we know that Binance provides us with the necessary tools for the development of its own Exchange, and the question as to the ‘Why’.
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Reasons and Motivation for the Binance Cloud
The attentive reader may imagine it already: Cloud Computing and Cloud Services are a huge growth market and continue to be among the emerging (engl. emerging) technologies. One of the biggest advantages for the end customer is that he can build a separate service or an existing service, without the huge initial infrastructure costs (costs of servers, server rooms or halls, Setup, configuration) and their maintenance spend. Exactly this is also the Motivation of Binance is.
Fittingly, it is also called by CZ in the Binance Blog:
With this Initiative, which is focused on open access to Binance technology and resources, aim to provide, we ensure the technical challenges on the part of the partners to reduce, so that they can focus on the core business: that is, currencies with a clear focus on their Users as well as access to local Fiat, in order to accelerate the global Adoption of crypto-currencies.
Of course, it’s not about Binance here only to the acceleration of Crypto Adoption. CZ may forgive us, if we can, and with as much self-interest there. This is because, with the use of Cloud-Services, likewise, the (indirect) market share of Binance to grow even. Likewise, their Community and the awareness of the brand, will grow’. In this respect, it is also from CZ:
The Binance Cloud is a product offering that did not exist before on the market. We are therefore very ambitious to share the quality of Binance with different Communities and markets around the world.
Finally, we will take a look at the Status-Quo of Cloud Services. To do this, we look at the growth of Cloud Services in the world. We also take a look at the cost of the Binance Cloud.
Global Trend & Growth Of Cloud Computing Market
Cloud Computing is a global Trend and global growth. This is particularly clear when we take a look at the turnover. This has doubled in the period from 2010 to 2015, more than. From 2015 to the end of 2019, there was again a doubling.
Also, the forecast numbers for the future to confirm the positive Trend. So, sales are expected to continue to increase strongly and soon in the case of 350 billion US-dollars worldwide. In short: Binance is jumping on the Trend, companies such as Amazon or Microsoft, with its services, Amazon Web Services and Microsoft Azure already, years ago shaped. Sales of Cloud Computing are now a significant proportion of the companies turnover. Thus, the Cloud Computing division contributed to the year 2019, for example, 12.5 percent for the entire year, sales of Amazon.
Also in Binance itself, it is hoped, of course, an increase in sales and profits. Because the use of the Binance Cloud is (as expected) not in vain. The customer is supposed to pay for the use of the service for an annual fee. In addition to this fee Binance is involved in the trading turnover. A highly lucrative business for Binance, because the acquisition of new customers and the expansion of the Community will be done by the operator of the Exchange.
With the Binance Cloud, it is now the Crypto-Exchange for Everyone. The Setup should be done within a few days. How would you rate the chances of success of the Cloud Solution?
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