Binance CEO CZ conducted an AMA session on Twitter.

CZ mentioned Dubai is already developed as a crypto innovation hub.

Changpeng Zhao (CZ), CEO of the world’s largest crypto exchange, Binance, conducted an AMA session on Twitter. He provided insights into some of Binance’s initiatives, such as the lightning network and the presence of the exchange in Dubai.

On March 31, Binance CEO CZ conducted an AMA session on Twitter. In the session, CZ discussed Dubai’s emerging role as a global crypto hub. He stated that Dubai is a great place for crypto firms, and it is a very international city overall. It’s already developed as a crypto innovation hub. 

Moreover, CZ stated the Binance growth of its presence in Dubai. He mentioned that the exchange has more than 700 employees in Dubai. And Binance will surely expand it. Compared to last year, Dubai has witnessed impressive GDP growth. And it will continue to grow.

Binance CEO CZ Shares Lightning Network Insights

Binance CEO CZ provided some ideas for crypto investors. He stated that, as a new investor, do not listen to the social media advisors. Investors have to do their own research on investing and take their advice with a grain of salt. Investors do not believe someone because he is famous.

CZ has shared some insights into the lightning network on the exchange. The exchange uses a secure wallet infrastructure, where addresses are pre-generated in a separate, protected environment. Moreover, it is impossible to pre-generate addresses for the lighting network. To implement it the exchange is working to do something different security-wise.

The exchange first enables a lightning network for small transactions. CZ didn’t mention any particular date for the launch. He added that every exchange has to support the lightning network. By doing so, users can enjoy the benefits of a lightning network, such as cost-effective and faster transactions. 

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Filed under: Bitcoin - @ June 3, 2023 7:45 pm