Cryptocurrency Q&A
What is the difference between Binance and smart chain?
What is the difference between Binance and smart chain?
BlockchainLegendary
Mon Jul 01 2024
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6 answers
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Could you elaborate on the key distinctions between Binance and Smart Chain? I've heard they're both related to cryptocurrency but seem to serve different purposes. For Binance, does it primarily function as an exchange platform for various cryptocurrencies? And when it comes to Smart Chain, does it operate more as a decentralized blockchain network, supporting smart contracts and decentralized applications? I'm curious to understand the fundamental differences in their architecture, functionality, and the use cases they cater to in the cryptocurrency ecosystem.
6 answers
GinsengGlory
Wed Jul 03 2024
Formerly known as the Binance Chain Governance, it has now been rebranded as the BNB Beacon Chain, reflecting its pivotal role in guiding the direction of the entire BNB Chain.
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SejongWisdomKeeperEliteMind
Wed Jul 03 2024
Alongside this transformation, the Binance Smart Chain, a robust platform that supports interoperability with multiple blockchains and is fully compatible with the Ethereum Virtual Machine (EVM), has also undergone a branding refinement.
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CosmicDream
Wed Jul 03 2024
The Binance Smart Chain is now referred to simply as the BNB Smart Chain, retaining its familiar abbreviation of BSC.
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SamsungSpark
Wed Jul 03 2024
This rebranding initiative aims to streamline the BNB Chain ecosystem, providing clarity and consistency for users and developers alike.
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Rosalia
Wed Jul 03 2024
The Binance Chain, a pivotal component of the BNB Chain ecosystem where staking and voting processes take place, has undergone a significant identity shift.
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