Dymension Creates High-Speed Modular Blockchain Network

Dymension (DYM), Web3 technology pioneer, creates a high-speed, modular Blockchain network called RollApp. RollApps are designed to easily create Blockchain applications and use Elastic Block Production (EBP) to optimize scalability, security, and decentralization. The Dymension network acts as a hub connecting these applications, providing interoperability in a multi-chain ecosystem. The DYM token is critical for network security, governance, and cross-chain transactions. Dymension aims to play a significant role in the future of Blockchain technology with this innovative approach. In this article, you can find answers to two frequently asked questions: What is Dymension (DYM) and how to buy Dymension (DYM) with TRY.

What is Dymension (DYM)?

Dymension has taken an innovative step in Web3 technology by creating a high-speed, modular Blockchain network called RollApp. RollApps provide a solution for easily and efficiently creating Blockchain applications. These RollApps are inspired by the “rollups” concept, which aggregates multiple transactions into one to enhance scalability in Blockchain technology.

Dymension offers a development kit called the RollApp Development Kit (RDK), similar to the Cosmos SDK. This kit enables the quick and effective creation of RollApps. The Dymension network acts as a hub connecting various RollApps, offering scalability, interoperability, and efficiency in the multi-chain Web3 space.

RollApps are designed to overcome the Blockchain scaling barrier; using Elastic Block Production (EBP), blocks are produced only when there are transactions, reducing network load and resource consumption. RollApps are secured by the validators of the Dymension network and enhance security using a type of optimistic rollups.

Dymension operates with a Delegated Proof of Stake (DPoS) mechanism, ensuring the network’s security and decentralization. The DYM token is used for various functions such as network security, transaction processing, staking, and governance. The Dymension ecosystem is dynamic and expanding, measured by metrics like total value locked (TVL), total active addresses, and total IBC transfers.

The uniqueness of Dymension comes with RollApps, modular and application-specific Blockchains. This structure allows developers to create Blockchain solutions optimized for specific use cases. Additionally, the Dymension network connects various RollApps, enabling seamless data and value transfer between Blockchains.

How to Buy Dymension (DYM) with TRY?

Binance TR is the most suitable cryptocurrency exchange for investors in Turkey who want to buy Dymension (DYM). Over 100 cryptocurrencies, including DYM, can be bought and sold quickly on Binance TR. 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 quite easy. Go to trbinance.com and continue from the “Create Account” step. In the first step of creating an account, you will be asked to enter basic information such as email address, phone number, name-surname, date of birth, nationality, and T.C. identity number.

After entering the requested information completely and accurately, email/sms verification will be done to confirm the information. After completing this process, you will proceed to the second step, identity verification (KYC).

How to Verify an Account on Binance TR?

Identity verification on Binance TR is one of the security procedures that must be completed before starting cryptocurrency trading and during account creation. This process is also necessary to protect both the user and the cryptocurrency exchange. You can choose to complete the verification process from your phone or through the official Binance TR website. Note that you will need your mobile phone to complete identity verification from the website.

On the Binance TR website, hover over the “Profile” option at the top right and click on “Identity Verification and Limits” from the drop-down menu, then click on “Verify.” After this step, you will need to scan the QR code that appears with your phone’s camera and continue the process on your phone. If you cannot scan the QR code, click on the “Copy URL” option to send the identity verification address to your phone via SMS.

When you enter the address on your phone or scan the QR code, a screen like the one below will open on your phone. From here, first tap on the “Identity” option to continue.

Then a screen like the one below will appear. To continue the verification process, first select the document type that suits you.

After selecting the document type, tap on the “Upload front side” option to continue. After taking a photo of the front side of the document according to the selected document type, tap on the “Upload back side” option and take a photo of the back side of the document and upload it. Make sure the images are clear and the information in the photo is easily readable when taking photos of the front and back sides of your ID card or driver’s license.

Then tap on the “Selfie” option to continue. At this point, your phone’s front camera will open, and you will need to scan your face. Make sure your face fills the camera area as much as possible once the camera opens.

After completing all these steps correctly and completely, your identity verification process will be completed within a short time.

How to Deposit TL on Binance TR?

You can easily deposit TL to your Binance TR account from all banks. You can deposit and trade TL 24/7 from your Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, Türkiye Finans accounts. Deposits over 50,000 TL from other banks are processed during EFT hours. To deposit money into your Binance TR account, first go to trbinance.com and hover over the “Wallet” option at the top left of the homepage, then click on the “Deposit” option from the drop-down menu.

Then a page like the one below will open, and you can continue the deposit process by selecting your preferred bank from this page. If your preferred bank is not yet integrated with Binance TR, you should continue by clicking on the “Other Banks” option.

In this example, we will continue using Vakıfbank, but the process is the same for all other banks. When you click on the Vakıfbank option, you will see an account name and IBAN address where you can make a transfer, EFT, or FAST to that bank. Now, all you need to do is use the information shown on the page of your preferred bank to transfer the amount you want to deposit into your Binance TR account via transfer, EFT, or FAST.

After your bank completes the transfer process, the funds you sent will automatically be reflected in your Binance TR account wallet.

How to Buy DYM Coin with TL on Binance TR?

After the deposit process, you can proceed to the step of buying DYM coin with TL by clicking on the “Buy-Sell” option in the top left menu on the Binance TR website.

After clicking on this option, the page below will open. On this page, type “DYM” in the search box on the right side and click on the DYM/TRY option from the results to go to the TL to DYM purchase page.

Now the DYM purchase page below will open. On this page, in the area marked with a red box, you need to enter the price at which you want to buy DYM in the first box and the number of DYM you want to buy in the second box. After entering the amount, you can complete your purchase by clicking the “Buy DYM” button.

What is Binance TR?

Binance, the world’s largest cryptocurrency exchange by trading volume, officially launched its platform Binance TR for cryptocurrency investors in Turkey in 2020. The cryptocurrency exchange, headquartered in Istanbul, can be accessed at trbinance.com.

Binance TR offers trading services from fiat to cryptocurrency and cryptocurrency to cryptocurrency by leveraging Binance’s technology, security measures, and liquidity provided through the Binance Cloud infrastructure. Users in Turkey can seamlessly deposit and withdraw Turkish lira (TRY) through bank channels and trade various cryptocurrencies with TRY pairs via Binance TR.

Users have access to market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls through Binance TR, supported by Binance’s core functionalities.