The new DEFI platform enters the market! Earn passively - token sale 0.25 $ I'm going in!

Binance Smart Chain and Binance Chain merge to form BNB Chain

3 min reading

During the crest of Ethereum's network traffic jams and gas fee problems, Binance Smart Chain became relatively famous as an Ethereum substitute.

Binance Smart Chain (BSC), a decentralized blockchain ecosystem, said on Tuesday that the Binance Chain and Binance Smart Chain are merging under a new title, BNB Chain, to represent their relationship with the ecosystem's native token, Binance Coin (BNB).

BNB now stands for "Build and Build" rather than "Binance Coin," as per a press release. The BNB Chain, backed by BNB, will provide enhanced features and emphasis on developing Web3 infrastructure.

The Binance Chain, where staking and voting take place, has been renamed BNB Beacon Chain under the newly called BNB Chain umbrella. However, the Binance Smart Chain, which is compatible with the Ethereum Virtual Machine and supports multiple chains, is popularly known as BNB Smart Chain, or BSC.

The BNB Chain will combine all of its Web3 projects under the umbrella of MetaFi, which will pull together metaverse developers and projects alongside GameFi and SocialFi. The BNB Chain will include large-scale applications and developer tools, and also an expansion of the validator set from 21 to 41 validators, with an emphasis on sustainability.

BNB Chain's ecosystem coordinator, Samy Karim, stated:

“The BNB Chain community will benefit from the previously launched $1 billion in funds and receive financial and operational support, as well as an introduction to the industry’s leading experts, mentors, and investors. The ecosystem will bring a range of these programs from live mentorship events and workshops to hackathons and in-person meetings.”

Binance Smart Chain was formed in September 2020 as an alternative to the Ethereum blockchain, and it worked similarly to the platform but with reduced transaction costs and processing times. Due to its ease of use, connectivity, and low cost, BSC has rapidly become a popular option for decentralized finance (DeFi) developers and nonfungible token ventures. The renaming is an indication of the next stage of the path, which will integrate DeFi with virtual reality in the metaverse.

Currency Exchange rate Buy cryptocurrency

Buy crypto now

Dear customer,

We use cookies to provide our services correctly and safely. Cookies are small text-based data sets that shall be saved on the device you are using in connection with the use of this instnat website. Cookies are created in order to ensure proper functioning of thes instant website. By clicking the button "I accept and go to the website", you implicitly agree to creation of the cookies on your computer and to deploy automatic tracking and data collection and processing on behalf of the Lushup Holdings FZ LEE. Click the above-captioned button is also tantamount to accepting website's privacy policy. Closing the notification by means of "X" is unequivocally connected with your consent. If you do not agree to any of the above, please discontinue using our Website.

“Cookies” shall make an identification of the software used by you and to customization of this instant website to your needs. Cookies contain the name of the domain from which they origin, duration of period of their storage on your computer and an assigned value.

Third party cookies:
We also use third-party cookies for the following purposes:

  • creating statistics - helping to understand the way Users use the Website, which allows to improve its structure and content with use of the analytical tools
  • defining a user profile - in order to display custom-tailored content in advertising networks.

External entities that might be source of any third-party cookies on this instant Website are as follows:

Using a settings of your web browser or by using pre-set configuration tools available in our service you can independently and at any time change the settings concerning your use of the “cookies”, specifying the conditionsof their storage and how your device is creating and downloading them. These settings can be changed to block the automatic handling of cookies in the settings of your web browser or inform about their placement on your device each time.

Detailed information about the options related to use of “cookies” is available in the settings of your software (web browser).

Service privacy policy

This instant document lays out the principles of the Privacy Policy on the website (hereinafter referred to as the "Website" or "Service"). The administrator of the Website is Lushup Holdings FZ LEE, Fujairah - Creative Tower, P.O.Box 4422 Fujairah, United Arabs Emirates.

The full document to read the Tokeneo privacy policy is available in this document.

Advanced settings can be changed in your browser.