Sirwin
Sirwin

Coming Soon! Binance Smart Chain. BNB Staking


Binance Chain Community Releases Whitepaper for Enabling Smart Contracts.

The new Binance Smart Chain will be independent, but tightly integrated with the original Binance Chain. The team explains that it had to create a new chain in order to maintain the high performance of the original, which hosts the Binance decentralized exchange,  in order to support a Smart Contract "friendly function".

Binance Smart Chain will thus be an autonomous blockchain, based on Proof of Staked Authority, and compatible with EVM so as to support all the tools existing on Ethereum.

 

It also promises faster execution times and lower transaction fees.

It will be based on a system of 21 validators using PoSA as a consensus algorithm, offering faster block confirmation times and lower transaction fees. 

The native BNB token will act as gas for the execution of smart contracts as well as a token for staking. 

The proposed Binance Smart Chain is unique for several reasons:

  1. It’s a sovereign blockchain, which will provide security and safety to all users and developers.

  2. It’s EVM-compatible and will support all of the existing Ethereum tooling along with faster and cheaper transactions.

  3. Its native dual chain interoperability will allow cross-chain communication and scaling of high-performance dApps that require fast and smooth user experience.

  4. Its on-chain governance with Proof of Staked Authority consensus, built on 21 validators who validate the transactions, will provide decentralization and enable significant community involvement.

 

The Binance Smart Chain will be serving all developers who want to build applications with Smart Contracts functionality, especially the dApps focused on exchangeable digital assets, as the Binance Smart Chain allows the creation of new digital tokens and dual-chain trading.

It’s also an attractive opportunity for all BNB holders who are interested in staking BNB to support the development of Binance Smart Chain and earn rewards.

 

 

Official Whitepaper: https://www.binance.org/#smartChain

 

Binance Referral: https://www.binance.com/en/register?ref=37803206

 

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Lis_23

Photographer & Crypto enthusiast. Anthropology and Music are my passions.


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