TECHNOLOGY

Binance Chain

It was developed to get ahead in terms of speed and low fees and surpass Ethereum. Its operation happens in the Tendermint consensus term, that works with planned speed.

It works through more than one blockchain, unlike Ethereum. From this, the Binance Smart Chain was created. It uses a highly developed model called proof-of-stake-authority and that’s what allows the lower fees and more speed.

It allows digital assets to be transferred from one blockchain to another using an independent system.

Used Protocol

The BEP-20 token is developed based on Ethereum. The platform consists of a blockchain that stores transactions and a virtual machine that encodes smart contracts, that guarantee their execution. The standard simplifies the creation of projects in a decentralized registry and optimizes the functioning of the network.

BEP-20 is an official unified protocol, designed to solve the problem of compatibility of different currencies and improve the functioning of the network. The default token on the Ethereum blockchain is characterized by the following properties:

• Makes assets interchangeable;

• Used on compatible platforms, projects and exchanges;

• Ensures operation with compatible decentralized applications (DApps);

• Simplifies transactions by receiving and sending coins;

• Interacts with other currencies, smart contracts;

• Standard blockchain-based tokens are decentralized and open source.

The smart contract, written in code form, performs the following actions:

• Performs transactions, transfers tokens;

• Confirm cost;

• Tracks account balance.

TECHNOLOGIES USED BY THE PROJECTS

Finby has developed an orchestrator mechanism that allows transactions carried out within its ecosystem to be synchronized with the Binance network, and to be validated.

The development of all Finby products and systems follows the Agile SCRUM methodology, a practice that aims to enhance value deliveries in the shortest possible time.

Aiming to serve as many users as possible, the solution's structures were designed thinking about microservices, oriented to events using RabbitMQ, which has proven performance at 2 million messages per second. This makes the solutions developed to be more easily scalable, and new functionalities to be incorporated into the system.

To ensure the security of the application, the best practices defined in ISO/IEC 27001 and 27002 were followed in the development of the application, in addition to following the rules of the GDPL (General Data Protection Law), with information transparency for each user.

Finby chose one of the best technologies, highly developed, safe and fast to bring the best experience to its users.