The world’s largest cryptocurrency exchange Binance has recently announced the release of Binance Info 2.0 on social media. The purpose of Binance Info is to aggregate the ratings from third-parties for the entire cryptocurrency space. Being the largest exchange in the world, Binance sees itself as an integral part of the crypto space and therefore has taken on the responsibility of making this ratings platform a reality.
Binance Info has been live for some time, but the next installment of this platform features some much-needed updates. For example, the Binance team has analyzed some 1,400 coins and tokens as of the release. With over 1000 ICOs held, there is still a long way to go but Binance hopes to have a comprehensive database of all the coins currently in circulation.
Binance claims that Info 2.0 “may be the most comprehensive compilation of third-party rating reports on blockchain projects that’s available.” For example, Info 2.0 now boasts a compilation of reports and resources from more than 50 rating agencies as well as a library of nearly 1,000 reports according to their announcement.
Clicking on a coin on Info 2.0 will take you to its Info page. Here, the coin’s whitepaper, token supply, and other information will be displayed along with real-time charts. It is here that one can find ratings information on the respective cryptocurrency from professional third parties be they research institutions, investors, media, or other key opinion leaders. All of it is aggregated in one place so there is no need to look too hard for the information one needs.
Each rating is given on a 5-star scale with the name of the project and the source of the report. Details can automatically be viewed but the rating criteria will also be given for each institution. The information is free to download for both Chinese and English reports. As per the announcement, Binance has said that in the future they plan to add more interactive reports along with video content as well.
Info 2.0 looks promising and is definitely a step above many of the other crypto rating websites which largely rely on either their own ratings or uncredited reviews which hold little institutional backing. With Info 2.0, Binance is looking to create an aggregate of content and ratings which can be looked at easily. Think of it like a library for crypto where everything can be accessed, from technical papers to reviews on projects. Although still early, Binance hopes to expand Info 2.0 into something more like a cryptocurrency encyclopedia. Firstly, however, the crypto space needs to mature quite a bit before institutional rating agencies give the space a hard look. As of now, crypto rating agencies are nowhere near the level of credit rating agencies or others, but in due time, we could see this sector start to flourish a bit more.