Binance Acquires dApp Analytics Platform, DappReview
Binance, one of the world’s largest crypto exchanges acquired has various organizations in the past two years.
They acquired an Ethereum and crypto wallet, Trust Wallet last year, Seychelles-based crypto trading platform, JEX this September and Indian Crypto exchange, WazirX last month.
And now, they have announced the acquisition of a popular decentralized analytics platform, DappReview. The one that functions with around 4,000 dApps and 13 public blockchain networks and 300,000 monthly active users across the globe.
The platform serves media, finance, and other organizations with on-time information about the number of active users, transaction count, volume data, and more. It is also considered as a bridge connecting the Chinese community with the Western one via its own influencer media account on WeChat.
The exact value of the deal has not been revealed, but it has been assumed to be a great step towards bringing a revolution in the dApp ecosystem. Under the deal, both Binance and DappReview will help each other fill the gaps in their processes and further, encourage a great investment in Blockchain development.
“On-chain applications are still the missing piece for mass blockchain adoption,” Binance’s CFO said. He further added, “The DappReview team has shown its commitment to dapps and strong execution in building a leading global dapps platform within a year of establishment. Binance and DappReview share a mutual goal of driving blockchain applications. This acquisition marks a significant step into the dapps ecosystem, and we will have more exciting developments in the near future.”
Here, DappReview will receive support from Binance in non-technical fields. This will help them expand their business beyond serving media, finance, and other companies with on-time and data-driven analytics.
The platform will also employ Binance’s ecosystem to partner with more public chains and protocols in the Dapp space effectively. It will focus more on bringing more talented dApp developers on board. In addition to this, the dApp analytics platform will aid them in different processes – right from fundraising to product development, and marketing processes.
What’s more, the decentralized analytics platform, DappReview would continue to operate as an independent entity in technical development and operations.
Whereas, when talking about Binance, its earlier acquired crypto wallet, Trust Wallet will employ DappReview APIs to serve developers with better opportunities to explore new dApps, Cryptogames, and DeFi (Decentralized finance) services, and more.
While this is what has been planned for now, it has been assumed that the advance suit of products that DappReview will launch in Q1 2020 will also make a major difference in the outcomes of this deal to Binance crypto exchanges.
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