Binance to enable Smart Contracts at Binance Chain

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Binance to enable Smart Contracts at Binance Chain

Binance today announced Smart Chain to enable Smart Contracts at its Binance chain blockchain network.

Binance Chain Development Community (BCDC) proposed Binance Smart Chain in parallel to Binance chain network. The solution brings Ethereum Virtual Machine (EVM) like functionality to Binance Chain.

Executive Opinion

The Binance announcement said, "Both Binance Chain and Binance Smart Chain will allow transfers and other communication thanks to the native support of interoperability. The Binance DEX will remain a liquid exchange venue of assets on both chains. This dual-chain architecture will empower its users to build their decentralized apps and digital assets on one blockchain and take advantage of the fast trading to exchange on the other. "

Binance Smart Chain in Brief

The native Interoperatibility between Binance Chain and Binance Smart Chain is also proposed in the solution.

There are other features such as EVM-compatibility, support of existing Ethereum tooling, cross-chain communication,  scaling of high-performance dApps along with Proof of Staked Authority consensus with 21 validators are also proposed in the solution.

More details are available at Binance Smart Chain Whitepaper.

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Mandar is a seasoned software professional for more than a decade. He is Cloud, AI, IoT, Blockchain and Fintech enthusiast. He writes to benefit others from his experiences. His overall goal is to help people learn about the Cloud, AI, IoT, Blockchain and Fintech and the effects they will have economically and socially in the future.

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