1/20/2024 0 Comments Metamask binance smart chain downThis means it is fundamentally similar to Ethereum, and enables it to be EVM-compatible. BNB Smart Chain also uses BNB as its native token.īNB Smart Chain is a hard fork of the Go Ethereum (Geth) protocol, which is one of the three original implementations of Ethereum, using the Go programming language. In doing so, it widened the scope of the Binance ecosystem far beyond the limitations of Binance Chain, which does not support smart contracts. Its sibling, Binance Smart Chain (BSC) (later BNB Smart Chain), was released in late 2020 specifically to facilitate smart contracts. Binance Chain (which became BNB Chain) went live in 2019, and is primarily used for storing and trading assets, especially on the company's own decentralized exchange, and using its token BNB. This pair comprises the BNB Chain and BNB Smart Chain - to use their updated names - which coexist. Amongst its many products and initiatives are its market-dominating centralized exchange, various wallets, and-last but not least-its own blockchains and their ecosystems. In this article, we'll continue to use the initialism BSC - reflecting its continued widespread usage.įor more information on the change, see the Binance announcement.īinance is one of the giants of crypto and web3. For most users, the change does not result in any difference. Binance rebranded BSC as the BNB Chain in February 2022.
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