Binance Bitcoin Exchange To Convert All BNB To Native Standard
The leading cryptocurrency exchange Binance converts all Binance Coin (BNB) tokens based on the ERC-20 standard in hot and cold stores into native BEP-2 tokens.
"Binance will convert all the ERC20 BNB tokens in our hot & cold wallets to native BEP2 tokens. To achieve this, all the ERC20 BNB tokens in our hot & cold wallets will be burned and equal amounts of BEP2 tokens will be sent from the creator address to our new BNB cold wallet."
So, all Ethereum tokens is burned, and an equivalent number of native tokens will run from the genesis addresses to the new cold repository. Binance also revealed the address of this wallet to make the process as transparent as possible.
The address of the new BEP2 $BNB cold wallet is:
— CZ Binance (@cz_binance) May 16, 2019
"The address of the new BEP2 BNB cold wallet is: bnb142q467df6jun6rt5u2ar58sp47hm5f9wvz2cvg."
Earlier, Binance updated the security system, restored trading operations, deposit and partial withdrawal of funds, however, users still complain about bugs after the upgrade.