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HomeCrypto NewsExchangesBinance Smart Chain (BSC) Is Now BNB Chain

Binance Smart Chain (BSC) Is Now BNB Chain


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The Binance Smart Chain (BSC) ecosystem is rebranded to BNB Chain.

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Binance announced:

“Binance Chain and Binance Smart Chain become BNB Chain. Through the concept of MetaFi, BNB Chain will build the world’s parallel virtual ecosystem infrastructure. BNB, which stands for “Build and Build” (formerly called Binance Coin), is the blockchain gas token that “fuels” transactions on BNB Chain.”

The new name emphasizes the Binance connection to the BNB token and demonstrates its use cases. The coin will continue to be used on BNB Chain as a gas token.

The BNB Chain ecosystem will include:

  • BNB Beacon Chain Management Network (formerly Binance Chain);
  • Blockchain BNB Smart Chain (BSC) – formerly Binance Smart Chain;
  • EVM-compatible consensus levels, including multi-chain hubs.
  • BNB Chain will cover large-scale applications including GameFi, SocalFi, and the Metaverse.

In particular, there will be scaling from one chain to several, expanding the set of BSC validators from 21 to 41 (20 will receive the status of candidate block producers),” explained Sami Karim, coordinator of the BNB Chain ecosystem.

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According to the concept of MetaFi (metadata + DeFi), the network community seeks to build a single infrastructure for various projects of GameFi, SocalFi, Web 3.0, NFT, and metaverses, placing them under the “one umbrella”.

“MetaFi is a future inclusive ecosystem that promises a paradigm shift by enabling seamless interoperability across projects and blockchains,” said BNB Chain.

Over the past year, the BNB Chain community has made even further technical upgrades for progressive decentralization, including Initiating the Bruno hard fork to increase the BNB burn rate and a new BNB Auto-Burn protocol that is objective and verifiable

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Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

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