Binance
Binance Smart Chain Blockchain Development Company
Binance Chain, the inaugural Blockchain created by Binance, serves as a trading platform for cryptocurrency assets. BNB (previously known as Binance Coin) is traded on the decentralized exchange Binance DEX, which was specifically developed by Binance. Users have the ability to build decentralized applications on top of the Binance Chain. With the absence of intermediaries, trading fees on this platform are low. Additionally, various cryptocurrencies can be utilized to create trading pairs, ensuring the security of crypto assets on this platform.
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Supported Tokens
BNB
BEP2
BEP8
BEP20
Binance Chain to Binance Smart Chain
In September 2020, Binance made the decision to introduce a new Blockchain called Binance Smart Chain (BSC), approximately a year and a half after the release of its predecessor, Binance Chain (BC). Rather than updating Binance Chain, Binance opted to create a separate blockchain. Binance Smart Chain is designed as a smart contract platform that incorporates similar features to Ethereum and other decentralized application platforms. The rationale behind this decision was to prevent network speed and efficiency from being compromised, as the addition of smart capabilities to Binance Chain could have potentially hindered its performance.
Cross-chain compatibility
Binance Smart Chain utilizes a dual chain architecture, which enables secure asset transfers between blockchains. This unique feature of dual chain interaction facilitates faster trading and seamless creation of decentralized applications (DApps).
At Hokrix, we provide a comprehensive range of Binance Blockchain development services. Choose from our Binance Development applications that align with your business objectives and requirements, and empower your organization with the capabilities of the Binance Smart Chain.
BNB Chain: Beyond Binance
Currently, Binance and BSC remain interconnected through BNB, emphasizing their association with the ecosystem’s native coin, Binance Coin (BNB). The BNB Chain comprises:
1. BNB Chain Governance: This component facilitates staking and voting activities. It was previously known as BNB Beacon Chain.
2. BNB Smart Chain (BSC): BSC is compatible with the Ethereum Virtual Machine (EVM) and incorporates consensus layers and hubs for multiple chains.
By holding BNB, users gain the opportunity to participate in decentralized on-chain governance within the BNB Chain. This design change brings additional enhancements for users, projects, and developers affiliated with the BNB Chain community. Over the past year, the BNB Chain community has made significant technological advancements towards progressive decentralization.
Create your Binance Blockchain application right away
Token development
To improve usability and scalability across Binance platforms, the development of BEP20 tokens is essential.
Smart contract development
Leverage our Binance Blockchain development services to create a smart contract that autonomously executes when predefined conditions are met.
DEX Development
Empower your users with full control over decentralized exchange (DEX) features, such as bidding and multicurrency compatibility.
NFT Marketplace
Create a cutting-edge NFT marketplace powered by the Binance Blockchain, enabling creators to unlock the full potential of their NFT assets.