Dymension (DYM), a pioneer in Web3 technology, has introduced a cutting-edge, high-speed modular Blockchain network known as RollApp. These RollApps are specifically designed to streamline the process of creating Blockchain applications and utilize Elastic Block Production (EBP) to enhance scalability, security, and decentralization. Acting as a central hub, the Dymension network connects these applications, ensuring interoperability within a multi-chain ecosystem. The DYM token plays a vital role in network security, governance, and facilitating cross-chain transactions, positioning Dymension to be a key player in the future of Blockchain technology with its innovative approach.
What is Dymension (DYM)?
Dymension has made a groundbreaking advancement in Web3 technology by introducing RollApp, a high-speed, modular Blockchain network. These RollApps offer a solution for the easy and efficient creation of Blockchain applications, drawing inspiration from the concept of “rollups” that combine multiple transactions into one to boost scalability in Blockchain technology. Dymension provides the RollApp Development Kit (RDK), similar to the Cosmos SDK, to facilitate the swift and effective development of RollApps. By serving as a central hub, the Dymension network connects different RollApps, offering scalability, interoperability, and efficiency in the multi-chain Web3 environment.
RollApps have been designed to address the scaling challenges of Blockchain technology. Leveraging Elastic Block Production (EBP), blocks are only produced when transactions are present, reducing network congestion and resource consumption. Validators within the Dymension network ensure the security of RollApps, enhancing protection through a form of optimistic rollups. Operating on a Delegated Proof of Stake (DPoS) mechanism, Dymension guarantees the security and decentralization of its network. The DYM token is utilized for various functions such as network security, transaction processing, staking, and governance. The Dymension ecosystem is dynamic and expanding, as indicated by metrics like total value locked (TVL), total active addresses, and total IBC transfers.
Dymension’s uniqueness lies in its RollApps, which are modular and application-specific blockchains, allowing developers to create Blockchain solutions tailored to specific use cases. Furthermore, the Dymension network facilitates seamless data and value transfer between different blockchains by connecting various RollApps.
How to Buy Dymension (DYM) with TRY?
Binance TR is the preferred cryptocurrency exchange for investors in Turkey looking to purchase Dymension (DYM). With over 100 cryptocurrencies available for trading, including DYM, Binance TR offers a quick and easy platform for buying and selling cryptocurrencies. To buy Dymension (DYM) with TRY on Binance TR, follow these steps:
How to Open an Account on Binance TR?
Opening an account on Binance TR is a simple process. Visit trbinance.com and proceed with the “Create Account” step. You will be required to provide basic information such as email address, phone number, name, date of birth, nationality, and T.C. identity number in the initial account creation step.
After entering the requested information accurately, email/SMS verification will be conducted to validate the information. Once this process is completed, you can proceed to the second step, which is identity verification (KYC).
How to Verify an Account on Binance TR?
Identity verification on Binance TR is a crucial security measure that must be completed before engaging in cryptocurrency trading or during the account creation process. This verification is essential for the safety of both the user and the cryptocurrency exchange. You can choose to complete the verification process using your phone or through the official Binance TR website. It is important to have your mobile phone ready for identity verification through the website.
On the Binance TR website, navigate to the “Profile” option at the top right, select “Identity Verification and Limits” from the drop-down menu, and click on “Verify.” Subsequently, you will need to scan the QR code displayed with your phone’s camera and continue the process on your phone. If you are unable to scan the QR code, you can opt to send the identity verification address to your phone via SMS by clicking on the “Copy URL” option.
Upon entering the address on your phone or scanning the QR code, a screen will appear prompting you to select the document type for verification. After choosing the appropriate document type, proceed by uploading the front and back sides of the document as per the instructions. Additionally, you will be required to take a selfie to complete the verification process. Ensure that all images are clear and the information on the document is easily readable.
Upon successfully completing all the steps, your identity verification process will be finalized promptly.
How to Deposit TL on Binance TR?
Depositing Turkish Lira (TL) into your Binance TR account is a straightforward process that can be done from all banks. You can deposit and trade TL 24/7 using accounts from Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, Türkiye Finans. Deposits exceeding 50,000 TL from other banks are processed during EFT hours. To deposit money into your Binance TR account, visit trbinance.com and navigate to the “Wallet” option at the top left of the homepage, then select “Deposit” from the drop-down menu.
A page will open displaying various banks for depositing funds. If your preferred bank is not integrated with Binance TR, you can select the “Other Banks” option. For instance, if you choose Vakıfbank, you will be provided with an account name and IBAN address where you can make a transfer, EFT, or FAST payment. Simply follow the instructions on the bank’s page to transfer the desired amount to your Binance TR account.
Once your bank completes the transfer, the funds will be automatically reflected in your Binance TR account wallet.
How to Buy DYM Coin with TL on Binance TR?
After completing the deposit process, you can proceed to purchase DYM coin with TL by selecting the “Buy-Sell” option on the Binance TR website’s top menu.
Upon clicking on this option, you will be directed to a page where you can search for “DYM” in the search box and select the DYM/TRY option to access the TL to DYM purchase page.
On the DYM purchase page, enter the desired purchase price and the quantity of DYM you wish to buy. Once you have entered the details, finalize your purchase by clicking the “Buy DYM” button.
What is Binance TR?
Binance, the world’s largest cryptocurrency exchange by trading volume, launched its platform Binance TR for Turkish cryptocurrency investors in 2020. Headquartered in Istanbul, Binance TR offers trading services from fiat to cryptocurrency and cryptocurrency to cryptocurrency, leveraging Binance’s technology, security measures, and liquidity provided through the Binance Cloud infrastructure. Users in Turkey can deposit and withdraw Turkish Lira (TRY) seamlessly through bank channels and trade various cryptocurrencies with TRY pairs on Binance TR.
Binance TR provides users with access to market-leading spot trading liquidity, a robust matching engine, advanced security protocols, custody solutions, and risk controls, all backed by Binance’s core functionalities.
For the latest financial and business news, visit COINTURK FINANCE. Please note that the information presented in this article does not constitute investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies, conducting their own research before making any investment decisions.
