Binance has announced changes to its blockchain ecosystem.
It is understood that Binance has consolidated Binance Chain and Binance Smart Chain (BSC) into one common ecosystem, known as ‘BNB Chain’ or ‘Build and Build Chain’.
For information, Binance Chain and BSC are two different networks:
Binance Chain
Allows users to make transactions using Binance's decentralized exchange (DEX).
Binance Smart Chain
Has a smart contract function used to develop decentralized applications.
Through these updates, Binance hopes more innovations can be implemented, including becoming the ecosystem of choice for non-fungible tokens (NFT), metaverse, and DeFi.
Even so, this change still maintains its concept of an open source and decentralized ecosystem, along with support by its community.
Interestingly, Binance is also excited to invite its community to join MetaFi through the presence of BNB Chain as its infrastructure.
MetaFi is the latest technology project introduced by Binance and it is a shadowy term: metaverse, DeFi, GameFi, SocialFi, Web3, and NFT.
Binance will still use Binance Coin (BNB) to make transactions on the BNB Chain.
At the time of writing, the 4th largest asset in this crypto market recorded a trading value of $ 430.10, up 1.38% in 24 hours.
BNB previously recorded an all -time high (ATH), $ 690.93 on May 10, 2021.
