Binance continues to expand and buys the analysis platform DappReview

According to an official announcement, which was shared on Tuesday morning on the official Blog of Binance, the company has taken DappReview. The platform bills itself as “the world’s leading information and Analytics platform for Blockchain-based decentralized applications (dapps)”.

The price for the acquisition was not disclosed. It is known, however, that the platform has over 300,000 active users in over 120 countries on a monthly basis. DappReview currently offers “data analysis, User Insights and dApp information for over 3,900 dApps of more than thirteen public block chains”, including Ethereum, EOS and Tron, three of the largest block chains, which currently operate distributed applications.

Wei Zhou, CFO of Binance, expressed his enthusiasm for the step, and noted:

On-Chain applications are still the missing piece for the introduction of mass-block chains. The DappReview Team has provided its commitment for dApps and its strong implementation of a leading global dApps-platform, within a year after the establishment of the proof. Binance and DappReview share a common goal to develop Blockchain-based applications. This acquisition marks a significant step for the dApps Ecosystem, and we will see in the near future for more exciting developments.

Binance stressed in the announcement that DappReview, which is currently based in Beijing, and will preserve its independence “in the technical development and operation,” despite the move. However, Binance will contribute support in “non-technical fields including Marketing and business development”. Furthermore, it was known that DappReview intends to publish in the first quarter of 2020, a new product Suite.

CoinDesk also reported that the APIs of DappReview is likely to be integrated into the Binance-own Trust as a Wallet, a crypto-Wallet that focuses on the provision of services for dApp users of Ethereum. The goal is in the future “to offer easy access for exploration of new dApps and crypto-games as well as more insights in DeFi”.

Vincent Niu, founder and CEO of DappReview was also pleased and now wants to accelerate the growth of the platform as well as the dApp-Ecosystem with the new resources:

The Mission of DappReview is a living dApps Ecosystem to build and promote the mass acceptance of the Blockchain. In addition to the analysis services of dApps, we also offer comprehensive Support packages for dApps-developer of the Central procurement and product development to Marketing and Promotion. The Acquisition of Binance will equip DappReview with more resources to accelerate the growth of our business. Our next step will be the partnership with more Blockchain protocols, and the developers of the dApp-data integration and the promotion of the introduction of dApps to a greater extent is.

It is not the first acquisition – it’s probably also not the last

The Acquisition is part of the consistent efforts of Binance, a robust global Blockchain Ecosystem to build up. At the beginning of the year Binance X, launched an Initiative to promote innovation in the Binance Ecosystem, the more than 40 developers and researchers in the Binance X Fellowship program has committed to develop Open Source applications on Binance Chain.

The acquisition of DappReview is the first trip of Binance in the “dApp-industry”, but by Far not the first acquisition in a crypto-currency to take. Larry Cermak noted that this is the fourth acquisition for the company since July of 2018. The first three acquisitions were the purchase of the Trust Wallets in July 2018, JEX in September 2019 and WazirX just last month.

Trust Wallet, as already mentioned, focuses on providing a smart Wallet Service for users of crypto-currencies. JEX is a crypto-currency-Futures-platform, to expand the derivatives-deals of Binance. WazirX is a in India available Cryptocurrency trading platform that offers its users the ability to buy Bitcoin and other crypto-currencies, sell and trade.

Featured Image: https://www.binance.com/en/blog/408465322496008192/Binance-Acquires-Leading-Decentralized-Application-Platform-DappReview-to-Further-Blockchain-Adoption