Binance Blockchain Week 2023: UXUY, the Bitcoin Ecosystem

Singapore, Nov. 10, 2023 (GLOBE NEWSWIRE) — The 2023 Binance Blockchain Week unfolded in Istanbul, Turkey, on November 8, attracting an impressive gathering of nearly 10,000 attendees from the crypto community. This annual blockchain conference provided a meeting point for global influencers, traders, founders, institutional investors, regulators, and innovators to converge and delve into the theme “The Next Billion.”
Binance founder CZ took the stage, delivering a keynote that resonated with the essence of blockchain’s transformative potential. UXUY, which is incubated by Binance Labs, was invited to attend. UXUY co-founder Jordan delivered a speech titled “UXUY Connects Bitcoin and BNB Ecology”, adding a unique perspective to the conference.

Istanbul, serving as the crossroads of East and West, became the epicenter for discussions that spanned the future of blockchain technology. Participants engaged in comprehensive exploration, committing to broaden the applications of blockchain and cryptocurrency. The focus extended to understanding the implications of Web3’s future development on both seasoned and nascent users.

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CZ: Bitcoin halving will happen in five months…

On November 9, CZ delivered the final speech of Binance Blockchain Week. He said:”I think bitcoin halved is happening in five months and then we’ll see what happens，there’s also the ETF that’s supposed to be approved soon. That may have a huge impact on institutional adoption into the cryptol, so that may bring a lot of money into crypto. Any of those things could happen , whether it comes to anything we are ready.”

In his speech, CZ elaborated on the relationship between Bitcoin halving and price, saying: “ I think it’s very important and very impactful, but it should not be viewed as an event,nothing is going to happen overnight. The Bitcoin halved is going to happen overnight. But we have seen this three times in the past that the day after bitcoin halved, the price doesn’t doesn’t double overnight. There’s a lot of anticipation, going into the halved and then also historically.The year after the halved, there’s multiple all time highs. But history doesn’t predict the future. People should have viewed Bitcoin halved as a specific significant event. It is in a sense that it is impactful. But, the price is not going to double overnight, but then Over the next year that people will realize that the new supply for Bitcoin has half halved. The mining costs have stayed the same, so miners are not gonna be willing to sell the new Bitcoin at law. They will sell the minimum to maintain operating costs, but the rest will hold until there’s decent profits, so even though the price of producing something shouldn’t dictate the price of selling, it does have a psychological impact, so and also with more demands coming into the industry, I do think that the demand for crypto and will grow exponentially.so I think that’s a very significant event in the sense of Bitcoin halved itself but don’t expect overnight prices doubling on that specific day, but the year After that we’re gonna see a lot of different things happening.”

Jordan: UXUY is Contributing to the Bitcoin ecosystem

Before CZ’s speech, UXUY co-founder Jordan delivered a speech titled “UXUY Connects Bitcoin and BNB Ecosystems” and told guests attending Binance Blockchain Week the story of UXUY as a Bitcoin ecosystem builder.

UXUY launched the Bitcoin Layer2 plan – “UXUY Struck by Lightning” in 2023, becoming the first DEX in the world to implement Lightning Network nodes and opening it to the entire ecosystem. On the day Taproot Assets was launched on the Bitcoin mainnet, the ecological incentive token $TAPROOT was successfully minted to encourage users to use the Lightning Network to hold and trade Taproot assets.

As an active Bitcoin Builder, UXUY continues to participate in Lightning Network code contributions and submitted many bug and vulnerability modifications to the Lightning Network Lab. It was highly praised by the Lightning Network Lab and became an outstanding contributor to the developer community. UXUY officially launched the Universe service on November 8, 2023, becoming the second service provider in the world to run Universe after the Lightning Network Laboratory. As UXUY opens the Universe service, the Taproot Assets protocol is officially promoted to Multiverse Mode. As an important feature of the Taproot v0.3 version, this will provide complete asset information and asset holder certificates, and update developers all at the same time.

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At the scene, Jordan also demonstrated to guests how UXUY connects EVM ecosystems such as BNB Chain with BTC, taking advantage of the efficient, low-cost, and secure features of the Lightning Network and Taproot Assets protocols to greatly improve users’ trading experience.

Jordan said: “The UXUY Struck by Lightning plan has no endpoint and will continue to build the Bitcoin ecological infrastructure and promote the development of the Lightning Network and Taproot Assets. We look forward to working with more and more Bitcoin builders to make Bitcoin Great Again!”

About UXUY
UXUY, incubated by Binance Labs, is a next-generation decentralized multi-chain trading platform based on MPC & AA wallets. Adhering to the concept of “Your Crypto, You Control”, UXUY actively participates in the construction Bitcoin Layer2 ecosystem. UXUY provides traders with instant cross-chain trading services for digital currencies and encrypted assets between public chains. It has currently been connected to Ethereum, BNB Chain, Polygon, Tron, Optimism, Arbitrum, Avalanche-C, Fantom, Linea, Base, etc. Public chain and Layer 2. By establishing an intent-centered social trading function and creating an aggregated liquidity pool around stablecoins, the universal Gas solution — GasPool, provides users with a CEX-like trading experience. Dedicated to helping users “Follow the Smart Money”, UXUY significantly lowers the barriers to social transactions on the chain.

About Binance Blockchain Week
More than just a conference, Binance Blockchain Week brings together traders, founders, institutional investors, regulators, global officials, and innovators to explore and shape the future of blockchain technology.
Binance Blockchain Week 2023 takes place in the Turkish capital of Istanbul to explore how blockchain and cryptocurrencies can financially support an additional billion users around the world. As a leading force in the Web3 space, Binance is committed to accelerating the global adoption of blockchain technology and helping users keep pace with the rapidly evolving blockchain industry.