Binance intends to compete with Ethereum by launching a new blockchain…. Details here
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Answer Binance intends to compete with Ethereum by launching a new blockchain…. Details here
It seems that Binance does not want to leave any room in the blockchain and crypto unless it looked at it and released a product for it.
Recently suggested new white paper From Binance to create a blockchain capable of dealing with smart contracts, to join the work in parallel with the previously existing Binance Blockchain.
Smart contracts allow for more complex transactions on the blockchain, which can be used to run decentralized applications (dapps). Ethereum was the first blockchain platform to fully support smart contracts.
The Binance blockchain is a distributed, but not highly decentralized chain that is largely managed by Binance. It has a high-throughput or high-performance matching engine as Binance calls it, allowing it to support a large number of transactions, however, it does not currently have the flexibility to support applications The most complex.
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The Binance Blockchain Development Community said:
Today, the Binance Network development team proposed the idea of a blockchain in parallel to the existing Binance Blockchain to retain the high performance of the original DEX blockchain and support smart contract functionality at the same time.
The Binance Smart Chain will be powered by 21 validators, similar to EOS and Tron, with a Proof of Authority Consensus (PoSA) mechanism.
The chain will also be compatible with the Ethereum virtual machine, facilitating the use of decentralized applications across both platforms.
Does Binance want to engage in direct confrontation with Ethereum and other networks that support smart contracts and decentralized applications?
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