Binance Founder and CEO Changpeng Zhao, known as CZ, answered a frequently asked question by many crypto investors – should there be one coin for all, or should there be millions of coins? CZ is in favor of the second option, so he wrote a long article that explains the basics of token creation and the benefits of issuing a coin.
In his opinion, the release of a new coin can bring the creator a little profit from the initial sale (ICO, IEO, IDO), if there is trust in the asset. In total, he will get less than 0.1% of the total cost.
In addition, CZ is convinced that the real benefit of issuing a coin is that it creates a new ecosystem, from user interactions to retention and ecosystem development. He noted that this cannot be done using company shares (securities), fiat currency, or even using bitcoins. Accordingly, you need to create your own coin with clear functionality.
One of the most famous people in the crypto industry believes that people will continue to create new tokens, there will be millions of them, some of which will succeed, some will fail. CZ advises against issuing digital assets until they meet market needs.
In this regard, he offered consulting services to Binance Labs, whose professionals can suggest the optimal design of the token.