Binance announces new IEO: Perlin (PERL)
Crypto

Binance announces new IEO: Perlin (PERL)

By Stefano Cavalli - 7 Aug 2019

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Binance has just announced the next IEO (Initial Exchange Offering). It will be called Perlin (PERL) and will introduce smart contracts in WebAssembly.

Wasm, or WebAssembly, is a web standard that defines a binary format and a corresponding text format for writing executable code on web pages. Its aim is to try to execute code at the same speed as the native one.

Born in 2015, it is currently supported in more than 80% of all browsers on the market. It is not a real programming language and there are no simple and intuitive guidelines, as it is a binary format.

Here are three different views of the same identical code:

Perlin is a platform for the development of smart contracts based on the Proof of Stake concept. It introduces WebAssembly and provides SDKs for developers, but the real innovation is something else.

By moving away from Proof of Work, and thus mining, there is no need for dedicated hardware. Perlin guarantees users the possibility to run any nodes directly on their mobile phone, thanks to the sole requirement of 512 MB of RAM.

Perlin’s development team consists of 26 people, including 12 developers, 2 product managers and 2 designers.

Wavelet is the name of the protocol that allows the development of smart contracts in WebAssembly. For the moment, the data relating to the network are the following:

  • In a testing environment, Wavelet has been able to perform over 30,000 transactions per second;
  • Thanks to the use of millions of nodes, the finalisation process should take 2 to 4 seconds;
  • Only 512 MB of RAM is required to run a full Wavelet node.

Perlin (PERL): update of the Binance Launchpad conditions

For this new IEO, Binance has again changed the terms for participating in the lottery by adding new features:

  • The holding period of the BNB token will last 15 days, from 2019/08/09 00:00 AM (UTC) to 2019/08/23 00:00 AM (UTC);
  • Snapshots will be taken every hour, in a random manner. The final daily calculation will be an average of the 24 hours;
  • the number of tickets changes: it is possible to obtain from 1 ticket holding, on average, a figure between 50 and 100 BNB, up to 10 tickets if the average balance will be 500 BNB;
  • Each ticket will have a counter value of $500, much higher than the $30 of the previous IEO;
  • There will be an airdrop of Perlin (PERL) tokens which will be divided according to how many participants have not received any tickets;

Trading of the Perlin (PERL) token is expected to start on 24-08-2019 at 8.00 AM UTC, although Binance can always make changes.

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