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George Ma
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Crypto
April 19 10:38

Binance launches its novel blockchain

Novel solution will make Etherium Virtual Machine (EVM) compatible with Binance Chain.
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Binance Chain Community of Developers (BCDC) has provided White Paper of Binance Smart Chain parallel blockchain boasts support for smart contracts and is compatible with Ethereum Virtual Machine.
In company's blog, it says that Binance Smart Chain (BSC) has "the high performance of the main Binance Chain blockchain". In addition, novel solution will make Etherium Virtual Machine (EVM) compatible with Binance Chain.

Asset transfers and any other transactions can be performed between Binance Chain and Binance Smart Chain through their compatibility. The architecture makes it possible to create decentralized applications, digital coins on one block and benefit from fast trading on Binance DEX on another, Binance says.  
According to description, Binance Smart Chain token will be BNB, allowing token owners to participate in stacking and be rewarded. Novelty will support all already existing Etherium tools with faster and less costly transactions. BSC is based on Proof of Stake (PoS) and has 21 validators (similar to EOS) that verify transactions, ensure decentralization and community engagement.
According to Binance, novel blockchain will be suitable for any type of user who wishes to create apps with smart contract functionality, especially dApps orientated at tradable crypto assets.