Decentralized blockchain ecosystem Binance Good Chain (BSC) in the present day introduced that it’s taking a brand new identify, BNB Chain, in a bid to replicate its reference to the native token of the ecosystem Binance Coin (BNB).
Based on the discharge, BNB now stands for “Construct and Construct” as an alternative of quick for Binance Coin. Powered by BNB, the BNB Chain would introduce superior capabilities and deal with constructing Web3 infrastructure.
Underneath the freshly-named BNB Chain umbrella, the chain governance half, the Binance Chain, the place staking and voting occurs, has change into BNB Beacon Chain. However, the EVM-compatible, multichain-supporting Binance Good Chain is just named BNB Good Chain, nonetheless shortened as BSC.
The BNB Chain will convey all its Web3 improvement underneath the umbrella of MetaFi that can convey collectively builders and initiatives from the metaverse together with GameFi and SocialFi. The BNB Chain would convey large-scale purposes and developer instruments whereas increasing the validator set from 21 to 41 with a deal with scalability.
Associated: Binance Invests $200M in Forbes to spice up client data on Bitcoin
Cointelegraph reached out to Binance for more information, and this text might be up to date with the response.
Binance Good Chain was launched in September 2020 as an alternative choice to Ethereum blockchain and mimicked the platform in its operation with a decrease transaction value and time of processing. In a short while span, BSC grew to become a well-liked selection for DeFi builders and NFT initiatives resulting from ease of operations, interoperability and low value. The rebranding comes as an attribute to the following leg of the journey that can mix DeFi and digital actuality within the metaverse.