Business
Binance Coin: Building Bridges in the Crypto Space
Introduction to Binance Coin (BNB)
Binance Coin (BNB) is the native cryptocurrency of the Binance platform, one of the world’s largest cryptocurrency exchanges. Launched in 2017 through an Initial Coin Offering (ICO), BNB was initially an ERC-20 token on the Ethereum blockchain before migrating to its own Binance Chain in April 2019. BNB is integral to the Binance ecosystem, used for transaction fees, staking, and as a utility token across various Binance services. For those interested in enhancing their investment knowledge, visit this resource link that offers valuable educational resources that can help individuals make informed decisions in the crypto space.
The Concept of Blockchain Interoperability
Blockchain interoperability refers to the ability of different blockchain networks to communicate and interact with each other. Traditionally, blockchains operate in silos, each with its own rules, protocols, and tokens, limiting their usability. Interoperability solutions aim to bridge these gaps, allowing seamless data and asset transfers between disparate blockchain networks. This is crucial for enhancing the functionality and adoption of blockchain technology across various use cases.
What Are Cross-Chain Bridges?
Cross-chain bridges are protocols designed to enable the transfer of data and assets between different blockchain networks. They work by locking tokens on the original blockchain and minting equivalent wrapped tokens on the target blockchain, ensuring interoperability without compromising security. There are two main types of cross-chain bridges:
- Trusted Bridges: Rely on a central entity or custodian to validate and manage transfers, such as the BitGo-managed Wrapped Bitcoin (wBTC).
- Trust-Minimized Bridges: Utilize smart contracts and algorithms to facilitate transfers, minimizing the need for trusted intermediaries.
Binance Bridge: A Key Player in Cross-Chain Solutions
The Binance Bridge is a prominent cross-chain bridging service that allows users to convert select cryptocurrencies into wrapped tokens on the Binance Smart Chain (BSC). It supports major assets like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and more, enhancing their interoperability within the BNB ecosystem. The process involves locking the original assets in a smart contract and issuing an equivalent amount of wrapped tokens on BSC, enabling seamless cross-chain transactions.
Recent Innovations and Investments
Binance Labs, the venture capital and incubation arm of Binance, has made significant investments to enhance cross-chain functionality. A notable investment is in Rango, a cross-chain decentralized exchange (DEX) and bridge aggregator. Rango facilitates easy transactions across various blockchain ecosystems, supporting over 60 blockchains, 70+ DEXes, and 20+ bridges. This investment aims to drive DeFi growth by improving interoperability and providing users with reliable cross-chain functionality (Binance).
Security and Risks of Cross-Chain Bridges
While cross-chain bridges offer numerous benefits, they also pose security risks. Smart contract vulnerabilities are a major concern, as demonstrated by high-profile hacks like the Ronin and Wormhole bridge exploits. In March 2022, the Ronin Bridge, associated with the play-to-earn game Axie Infinity, was hacked, resulting in the theft of over $600 million in ETH and USDC. Similarly, the Wormhole Bridge was hacked in February 2022, leading to a loss of approximately $325 million. These incidents highlight the importance of robust security measures and ongoing audits to mitigate risks associated with cross-chain bridges.
The Future of Cross-Chain Bridges with Binance Coin
Looking ahead, Binance aims to further enhance cross-chain interoperability and security. Future developments may include integrating additional blockchain networks and improving existing protocols to ensure seamless and secure transactions. Binance’s vision is to create a unified crypto space where assets and data can move freely across various blockchains, fostering innovation and broader adoption of blockchain technology.
Conclusion
Binance Coin plays a pivotal role in the crypto space, particularly in enhancing blockchain interoperability through cross-chain bridges. These bridges address the challenges of isolated blockchain networks, enabling seamless asset transfers and data communication. Despite the security risks, ongoing innovations and investments by Binance and other stakeholders are paving the way for a more interconnected and efficient blockchain ecosystem. As the technology continues to evolve, cross-chain bridges will likely become integral to the broader adoption and functionality of blockchain applications.
Business
Computer gaming lounge plans for Tenby cinema submitted
FORMAL plans to turn Tenby’s former Poundland and Royal Playhouse cinema to a retro computer gaming lounge have been submitted to the national park.
Following a takeover by investment firm Gordon Brothers, Poundland shut 57 stores earlier this year, including Tenby’s branch on White Lion Street.
In an application to Pembrokeshire Coast National Park, Matthew Mileson of Newport-based MB Games Ltd, seeks permission for a change of use of the former Gatehouse (Playhouse) Cinema, most recently used as a Poundland store to a retro gaming lounge.
This follows a recently submitted application for a ‘CONTINUE? Retro Gaming Lounge’ sign on the front of the former cinema, ahead of the wider scheme for a retro gaming facility at the former cinema site, which has a Grade-II-listed front façade.
A supporting statement for the change of use scheme through agent Asbri Planning Ltd says: “The proposed retro gaming lounge will be inviting to all ages, including families, groups and individuals with no age restriction. The applicant has several similar premises across other parts of the UK and operates under a successful business model.
“This includes a fee being payable to enter the premises which thereby grants access to unlimited game time to all consoles/arcade machines. There will be no slot or coin-based reward games, so the proposal would not be considered/classed as gambling. The site will provide snacks and drinks (including alcohol) which will be canned/bottled drinks.
“The sale of such drinks would be ancillary to the overall function of the premises, and a separate alcohol licence will be submitted, accordingly.”
It adds: “The development would provide a much-welcomed addition to White Lion Rd which will improve the vitality and viability of the immediate area by promoting greater levels of footfall within the area and introduce greater variety to the shopping frontage at this location.”
It proposes opening hours of 10-10, Sunday to Thursday, and to 11pm on Fridays and Saturdays.
The application, and the related signage scheme, will be considered by park planners at a later date.
Prior to being a Poundland, the site was the Royal Playhouse, which had its final curtain in early 2011 after running for nearly a century.
The cinema had been doing poor business after the opening of a multiplex in Carmarthen; in late 2010 the opening night of the-then latest Harry Potter blockbuster only attracted an audience of 12 people.
Business
Independent brewers join call for business rates relief as pub closures feared
INDEPENDENT brewers have joined growing calls for urgent, pub-specific relief on Business Rates amid fears that community pubs across west Wales and beyond could be forced to close.
The Society of Independent Brewers and Associates (SIBA) has warned that changes announced in the Autumn Budget will see pub costs rise sharply over the next three years, with the average pub facing a 76% increase in Business Rates. By comparison, large warehouse-style premises operated by online and technology giants are expected to see increases of around 16%.
The issue will be discussed at a meeting taking place on Monday in Saundersfoot, where local publicans, small brewers and business representatives are due to come together to examine the impact of rising Business Rates and escalating operating costs. The meeting is expected to focus on the future sustainability of community pubs, particularly in coastal and rural areas where they often act as vital social hubs as well as key local employers.
Independent breweries are particularly exposed, SIBA says, as the vast majority of their beer is sold through local community pubs. Many small breweries also operate their own pubs or taprooms, meaning they are hit twice by rising rates. Some independent brewers have reported rateable value increases of up to 300%, creating new costs they say will be extremely difficult to absorb.
New industry research published on Thursday (Dec 12) suggests that introducing a pub-specific Business Rates relief of 30% from April 1, 2026 could protect around 15,000 jobs currently under threat in the pubs sector and help prevent widespread closures.
The call for action follows an open letter sent last week by SIBA’s board, expressing deep concern at the impact of the Budget’s Business Rates decisions on the hospitality sector.
Andy Slee, Chief Executive of SIBA, said: “The last orders bell is ringing very loudly in our community pubs after the shock changes to Business Rates in the Budget.
“Publicans and brewers feel badly let down by a system that still isn’t fairly addressing the imbalance between big global tech companies and small business owners.
“We were promised proper reform of Business Rates in the Labour manifesto last year and a rebalancing of the tax regime, but this has not been delivered. Pubs therefore need urgent help to address the planned increase in costs through a pub-specific relief, followed by full and meaningful reform.”
Those attending Monday’s meeting in Saundersfoot are expected to consider how local voices can feed into the national debate and press for urgent action to protect community pubs across Pembrokeshire.

Business
Cosheston Garden Centre expansion approved by planners
PLANS to upgrade a garden centre on the main road to Pembroke Dock have been given the go-ahead.
In an application to Pembrokeshire County Council, submitted through agent Hayston Developments & Planning Ltd, Mr and Mrs Wainwright sought permission for upgrade of a garden centre with a relocated garden centre sales area, additional parking and the creation of ornamental pond and wildlife enhancement area (partly in retrospect) at Cosheston Garden Centre, Slade Cross, Cosheston.
The application was a resubmission of a previously refused scheme, with the retrospective aspects of the works starting in late 2023.
The site has a long planning history, and started life as a market garden and turkey farm in the 1980s, and then a number of applications for new development.
A supporting statement says the previously-refused application included setting aside a significant part of the proposed new building for general retail sales as a linked farm shop and local food store/deli in addition to a coffee bar.
It was refused on the grounds of “the proposal was deemed to be contrary to retail policies and the likely impact of that use on the vitality and viability of nearby centres,” the statement said, adding: “Secondly, in noting that vehicular access was off the A 477 (T) the Welsh Government raised an objection on the grounds that insufficient transport information had been submitted in respect of traffic generation and highway safety.”
It said the new scheme seeks to address those issues; the development largely the same with the proposed new garden centre building now only proposed to accommodate a relocated garden centre display sales area rather than a new retail sales area with other goods, but retaining a small ancillary coffee bar area.
“Additional information, in the form of an independent and comprehensive Transport Statement, has now been submitted to address the objection raised by the Welsh Government in respect of highway safety,” the statement said.
It conceded: “It is acknowledged that both the creation of the ornamental pond and ‘overspill’ parking area do not have the benefit of planning permission and therefore these aspects of the application are ‘in retrospect’ and seeks their retention.”
It finished: “Essentially, this proposal seeks to upgrade existing facilities and offer to the general public. It includes the ‘relocation’ of a previously existing retail display area which had been ‘lost’ to the ornamental pond/amenity area and to provide this use within the proposed new building and moves away from the previously proposed ‘farm shop’ idea which we thought had merit.
“This revised proposal therefore involves an ‘upgrading’ rather than an ‘expansion’ of the existing garden centre use.”
An officer report recommending approval said that, while the scheme would still be in the countryside rather than within a settlement boundary, the range of goods sold would be “typical of the type of goods sold in a garden centre and which could be sold elsewhere within the garden centre itself,” adding: “Unlike the recent planning application refused permission it is not intended to sell delicatessen goods, dried food, fruit and vegetables, pet products and gifts.”
It added that a transport statement provided had been reviewed by the Welsh Government, which did not object on highway grounds subject to conditions on any decision notice relating to visibility splays and parking facilities.
The application was conditionally approved.
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