Binance Coin Now Available To Book 3,000,000 Products As BNB Becomes 4th Largest Coin
AI Trading

Binance, the largest cryptocurrency exchange by trading volume, has announced that it will launch a new Ethereum-compatible blockchain.

According to the report, the new blockchain will use Binance Coin (BNB) as a native token. Named “Binance Smart Chain (BSC)”, which would have smart contracts functionalities, such as Ethereum.

Going by the whitepaper recently published by Binance, “The first practical and widely-used Smart Contract platform is Ethereum. To take advantage of the relatively mature applications and community, BSC chooses to be compatible with the existing Ethereum mainnet.”

The Binance Chain (BC) already owned by Binance will join the new blockchain, Binance Smart Chain (BSC), to allow transfers and other communication, owing to the native support of interoperability.

AI Trading

According to the crypto exchange, the Binance decentralized exchange (DEX) will remain a liquid exchange venue of assets on both chains.

Binance said:

“The Binance DEX will remain a liquid exchange venue of assets on both chains. This dual-chain architecture will empower its users to build their decentralized apps and digital assets on one blockchain and take advantage of the fast trading to exchange on the other.”

According to Binance, the proposed solution will merge the best of the two innovations together. The exchange furthered that “The fast block times and cheap transaction costs are great news for users who will be able to transfer their assets in a shorter time for surprisingly low transaction fees.”

The new blockchain is also a big opportunity for BNB holders who have an interest in staking their BNB holdings to support the development of Binance Smart Chain (BSC) and earn rewards.

This new technology will have Ethereum to compete with, because it will support all of the existing Ethereum tooling, including the faster and cheaper transactions.

AI Trading produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

Solomon Odunayo

By Solomon Odunayo

Solomon Odunayo is an accomplished blockchain and cryptocurrency expert at Herald Sheets, known for his in-depth analysis and engaging articles that cater to both beginners and experienced readers. With a degree in Computer Science from the University of Lagos, Solomon leverages his technical background and keen understanding of the crypto space to provide readers with valuable insights and up-to-date news. His passion for innovation and commitment to staying current with industry developments make him a trusted voice in the digital currency community.