Aeron (ARN), the aviation blockchain startup that the records flight log and aircraft maintenance data on the blockchain, has become the fifth project to move from Ethereum to Binance Chain. In announcing the move, the company said that “upon careful consideration of technology alternatives” they had chosen to transfer from the five-year-old Ethereum to the recently launched Binance Chain, following in the footsteps of Mithril, Atomic Wallet, ChangeNOW, and Red Pulse Phoenix.
Aeron takes a giant leap, moving to @Binance Chain! Fast blockchain with inexpensive transactions is perfect for Aeron aviation utility and @Binance_DEX will enable ultimate user experience. More details at https://t.co/0TPd1NDyn7 #DEXChangeTheWorld #bnb #arn #cbm #btc #bitcoin pic.twitter.com/Jmbe4g6zMX
— Aeron (@aeron_aero) May 4, 2019
Aeron Doesn’t Mince Words
Aeron announced their decision to swap chains Saturday and explained their reasons in a Medium post, part of which included a neat summary of why many think that Binance Chain is a legitimate competitor for Ethereum’s position as the preeminent smart contract platform:
By migrating to Binance Chain, ARN token holders will experience the speed, security, transactional efficiency and other advantages of the new blockchain platform.
By moving to Binance Chain, Aeron will also be automatically listed on the newly launched Binance DEX exchange, where it joins Mithril and Spendcoin. The news was met with considerably less of a reaction to Mithril in terms of price – MITH surged 60% upon news of its transition to Binance Chain, while ARN managed only a 16% pump. This is similar to the diminishing power of the ‘Coinbase effect’, where the announcement pump has become inversely proportional to the amount of tokens on the platform, as XRP fans found out when the coin was finally listed in February.
Binance Chain Delivers
Binance announced toward the end of April that they already had a number of projects lined up to be added to the platform when it launched, which is the kind of hype-generating approach that someone like Justin Sun would use in the lead up to a platform launch. The difference here however is that Binance’s CEO Changpeng Zhao almost always has substance to back up what he says, and so it has proved, with five projects now either transitioned or in transition in less than two weeks.
More are almost certainly in the works, and with Deloitte actively taking projects away from Ethereum and onto the VeChain platform, the future is suddenly not looking so bright for Vitalik Buterin and his crew.