Binance Smart Chain goes live

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Binance launches Binance Smart Chain. BNB staking, which will provide passive income in real terms, can now be done. Tools to be used in functions such as creating dApps and staking BNB in ​​the new chain will be released this month.

The expected statement came from Binance. The leading cryptocurrency exchange, in its statement today, released the Binance Smart Chain (BSC), which has a smart contract feature and enables Binance Coin (BNB) staking.

The exchange says it hopes to support the development of decentralized applications and decentralized financial products with the addition of these features.

Persons or organizations who want to be verifiers by staking their BNB in ​​BSC are invited with this link.

The new blockchain, designed as a parallel chain to Binance Chain, will use the Proof-of-Staked Authority (PoSA) consensus mechanism. This consensus mechanism will allegedly allow validators to receive rewards for their work on the chain without compromising transaction speed.

The new chain also has Ethereum Virtual Machine compatibility. “The readiness of Binance Smart Chain to be tested and tried by the best projects in the cryptocurrency industry is expected to greatly increase the utility of both Binance and BNB,” the statement said. It was said.

The advantages of Binance Smart Chain are summarized as follows:

A rich and growing digital asset ecosystem powered by the leading decentralized exchange Binance DEX
Transaction fees as low as 1 cent
High performance with a network that can generate a block every 3 seconds
Cross-chain DeFi mechanisms that increase DeFi interoperability
A supportive Binance ecosystem that funds many DeFi projects
A growing ecosystem of millions of users with Binance.com and Binance DEX
Large network of cryptocurrency projects currently collaborating with Binance Smart Chain

See Also
Binance Stops All FTX Transactions

Finally, it has been reported that tools will be released this month for functions such as token issuance and transfer, BNB staking, creating and using dApps.


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