Binance Smart Chain will have its heyday in 2020. At that time, very few blockchains were offered smart contracts and DeFi protocols. But Binance Smart Chain BSC already hosts these types of protocols. Especially the one, PancakeSwap, that rules this ecosystem. However, the appearance of new blockchains has changed this balance. So, for many months, the BSC seemed to be declining. So he had to be given a fresh start. There is a name change accompanied by a new one road map technical. Among the major innovations expected this year, BNB Applications Sidechains (BAS) can definitely give it a new lease of life.
- From Binance Chain to BNB Chain
- The new road map in the BNB Chain
- BNB Sidechain Applications
Blockchain: from Binance Chain to BNB Chain
Since its launch, Binance has sought to create its own blockchain. First of all, the BinanceChain, then the Binance Smart Chain (BSC). The former is always appreciated, for its short shifts and also for the management system. But this is the second to get one success stories in 2020. After the rise of decentralized finance (DeFi) in Ethereum (ETH), the latter has reached the Binance Smart Chain. This has allowed Binance to establish itself as one of the most complete ecosystem solutions blockchain. In fact, Binance offers a centralized exchange platform while PancakeSwap, the Binance blockchain, is establishing itself as a decentralized exchange reference.
He remained second blockchain of DeFi if we consider the dollar amount invested in its protocols, even if Terra removed it before it crashed. Despite this success, the Binance Smart Chain is in the eyes of many users a blockchain old age. And the latest projects seem to have abandoned it as its reputation has tarnished. The decision to change its name to BNB Chain was accompanied by a new one road map so that it can regain the advantages of its competitors.
New roadmap of BNB Chain
The name change will more clearly separate the future of centralized exchange from that. blockchain. The word “Binance” no longer appears in the name. Instead, it was “BNB”, the name of the famous cryptocurrency, that succeeded it. But the healing didn’t stop there. the blockchain also gain decentralization. The number of validators will increase from 21 to 42. In addition, the network will gain scalability thanks to the increase in block size. This is an important point! Actually, even a lot of Ethereum killers promised to be ready for the surge in transactions, most of it blockchains saw their network shrink at one time or another. So BNB Chain needs to take this issue seriously if it is to remain competitive.
In those side chains to complete the Beacon Chain
The gains in decentralization and scalability can be important assets for the blockchain. But the advent of BNB Applications Sidechains (BAS) is real game changer for BNB Chain. In a different model than subnets in Avalanche or in parachains in Polkadot, it side chains will allow large projects with a personal network. There are two categories of side chains reveal: side chains on Proof of Scale (PoS) of the Beason Chain, etc. using zk rollups. DeFi applications that require optimal security will remain on the mainnet, Beacon chain. it side chains on Proof of Scale already in testnet since March. the zk rollups about them, they will start arriving at the end of the year. It is intended to be used for gaming and metaverse projects.
first drop side chains expected by the Binance blockchain
The first three projects have already set themselves up to have theirs side chain : Metaverse World, Meta Apes and, best known, Project Galaxy. The latter has the same role as POAPs provided by the Gnosis Chain. This allows users of a very large number of networks to obtain NFTs as proof of participation in events or network involvement. This project was recently put forward thanks to the Arbitrum Odyssey program. In fact, the Arbitrum network offers its users to discover a specific number of applications in exchange for NFT. Dedicated to be standard multichainit makes perfect sense for Project Galaxy to have a blockchain of its own.
Far from resting on its gains, the Binance blockchain has undergone a series of changes to stay ahead of its competitors. The name change, more decentralized and more scalable network, the ever-expanding Ethereum is using a great way to strengthen itself. The arrival of BNB Applications Sidechains in the coming months is the final asset to allow large projects to be deployed without affecting the scalability of the main network. If the first time in Games To See almost over, the new generation of blockchain game is slowly coming. BNB Chain wants to be one of the most popular networks in this new era.
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Founded by Marc-Antoine CAEN POLETTI in 2021, Alt Write SEO is an in-house writing agency specializing in cryptocurrency, blockchain and NFTs. It found its roots in 2016 with the French Cryptocurrency Club, of which Marc-Antoine is the current president. Our mission is to support French speaking crypto companies to make France the first crypto country in the world.