According to a press release on December 2nd, major cryptocurrency exchange Binance acquired decentralized app (DApp) information startup DappReview.
DappReview’s platform provides its guests with knowledge analytics, user insights and information for over 3,900 DApps on 13 public blockchains, per the press release.
Vincent Niu, DappReview founder explained that the company also provides support for DApp developers in fundraising, marketing and product development. When asked by a blog whether or not he believes the acquisition by a cryptocurrency company might harm the platform’s independence, he said:
“DappReview provides accurate data analysis, users insight and market trends by aggregating the on-chain data, which is transparent to everyone. So our reports and views will not be affected by who we are. The data talks.”
According to the release, DappReview can as well maintain its independence in technical operations and development, while Binance can supply support in non-technical fields such as business development and marketing.
Vincent Niu also explained that the acquisition can offer his company with the resources to grow quicker and that the firm’s next objective is to land additional DApp data-integration partnerships with blockchain developers and protocols. He didn’t disclose the worth(price) of the acquisition.
Per a release, in the third quarter of 2019, at the beginning of October, a new study has shown that DApp transaction volumed and user activity slumped. While several hope that DApps will drive blockchain technology’s mass adoption,the market has not yet seen a decentralized application to succeed in mainstream use.
Binance scoops up blockchain companies(firms)
Binance has created variety of acquisitions within the blockchain and cryptocurrency area in recent months.
The exchange acquired JEX, a cryptocurrency asset trading platform that provides spot and derivates trading services in September, while just a couple weeks past, it bought the well known Indian cryptocurrency exchange WazirX.
Last year, the major exchange made its initial public acquisition when it bought Trust Wallet with a reported mixture of paper(fiat) money, Binance native cryptocurrency Binance Coin(BNB) and Binance stock.