Binance Announced Perlin Network as Next IEO Project

Binance will extend the Binance Coin (BNB) holding period to 30 days before the token sale.

Binance announced Perlin Network as its next token sale (IEO). This will be the ninth selection from Binance, which has carefully monitored projects and has held about one IEO per month.

This time, the crucial difference will be the holding period for Binance Coin (BNB). The exchange extends the holding and snapshot period to 30 days before the token sale, a significant limitation to potential buyers. But the new token sale rule would also take away BNB from circulation and encourage holding onto the asset.

Binance takes a snapshot of BNB balances, then distributes the right to participation based on a lottery principle. This technique was used to avoid the uncontrolled buying of tokens, which was unfair to buyers not fast enough or facing technical problems. Binance IEOs are one of the more trusted token sales.

The token sales will continue, despite the recent scandal related to leaked KYC data, in which a hacker is distributing uncensored pictures and passports.

Perlin is developing an entirely original blockchain protocol, once again hoping for the prize of the fastest public network. Perlin is based on a form of staking, named “leaderless proof-of-stake”, and aims to achieve sufficient speed for the smooth running of distributed apps (dApps).

“Perlin has great potential with its team providing a new blockchain scaling solution and unique leaderless consensus algorithm that will facilitate digital global trade, cloud computing, and other decentralized apps,” said Binance CEO and Founder, CZ (Changpeng Zhao).

Perlin aims to appeal both to separate crypto users, and to institutions and businesses.

“Our leaderless, practical, user-friendly and open-source ledger Wavelet outperforms every other public blockchain and we see ourselves as a public open enterprise DLT. This is why the International Chamber of Commerce, Singapore Government, Indian Government, and major business chambers around the world are comfortable working with us,” said Dorjee Sun, CEO of Perlin.

Binance has recently hosted a handful of projects promising unique blockchain features, but they are yet to prove their real-world usability. Those include Cosmos (ATOM), ChainLink (LINK), and, most recently, Algorand (ALGO).