Initial Exchange Offerings (IEOs) have largely replaced Initial Coin Offerings (ICOs) as a way to launch a new token or blockchain project.
The world’s largest crypto exchange, Binance, announced its latest and greatest update earlier this week, which is a new crypto token called CTSI, or Cartesi.
The latest Launchpad offering will promote a token in a lottery-style sale for customers holding its own Binance Coin (BNB).
It added that the project “enables complex and intensive computations run in a Linux environment, outside the blockchain, without compromising decentralization.”
On the surface, it seems that Binance is still trying its hardest to usurp Ethereum, which is the current industry-standard for dApps and smart contracts.
Last year, the exchange plugged its own Binance Chain, offering incentives to blockchain companies that switched to it.
Binance has also been heavily involved with Tron and BitTorrent Token, which are also angling to knock Ethereum off its digital perch.
The world’s domineering exchange clearly wants to become the Google of crypto, and Ethereum is still its primary adversary.
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