BNB And Binance Separating, and Binance Smart Chain (BSC) Renamed to BNB Chain. So Why?

in LeoFinance10 months ago (edited)

Binance Smart Chain is one of the most popular blockchains preferred by many projects. On the other hand, BNB became the 4th most popular cryptocurrency with a market capitalization of over $70 billion. Binance Smart Chain and BNB have received more than expected attention in recent years and have a large ecosystem with successful growth in recent years.

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Binance Smart Chain, the blockchain launched by the world's largest crypto exchange Binance, has been renamed BNB Chain. The biggest reason for this is that BNB has gone beyond Binance and the BNB ecosystem has become larger than Binance, and also surpassed Binance in terms of usage areas.

In addition, when Binance Smart Chain is mentioned, many people think of Binance exchange and this can be misleading. When BNB Chain is mentioned, everyone will now think of BNB. I think the name change is on point and it's been pretty good. BNB Chain will bring more opportunity and freedom and it will be more adopted. Because of this change, the growth of the blockchain could accelerate even more.

BNB Chain announced that it has created a new concept called MetaFi by combining Meta and Fi (DeFi). The BNB Chain community states that they plan to build infrastructure under one roof, including GameFi, SocialFi, Web 3.0 and NFTs, through MetaFi. MetaF will ensure seamless interoperability between different projects and blockchains. This is really pretty good work for the future. This will further accelerate the adoption of BNB Chain.

I think these developments will positively affect the BNB price. We may witness BNB move higher in the future. Also, BNB Chain can grow even more in the future and its growth and adoption rate can increase even more. Today, Bitcoin is up about 6% to $426. I think BNB is still trading far from its true value so I think it can start a quick rally higher in the coming days.

Source : Bnbchain

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It shows that Binance wants to move away from a notion that they control everything under BSC. It is important for them to make sure users do not have issues in using BSC.

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Yes, the right people need to understand that BSC and Binance are separate. I think there will be an increase in corporates who prefer BNB Chain.

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But BSC/BNB and Binance are NOT separate.

They can change the branding all they want to try and tell people they are, but all the validators are connected in some way to head office.

What's the old saying about putting lipstick on a pig? ;)

Anyway, BSC remains as popular as ever and shows that all people really care about is a fast, working product and not any of the morally right, decentralisation bullshit.

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That's my argument. They are trying to separate the brands but it will be an uphill task for sure

As if it wasn't confusing enough already lol. These chains need to get away from wrap this wrap that and fees here and fees there and start building a better optimized system to work with each other.

I'm curious though now MetaFi is going to work. I can wrap my head around GameiFi but MetaFi ?

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∞Fi Everywhere :)

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MetaFi... This seems interesting, let's see what will happen in this space. I think, though, since a lot of people are using BNB Chain, there are chances we'd be seeing some more nice projects and, hopefully, states of the art projects, which is not so common for the time being on the said chain.

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I believe that BNB Chain will offer innovative and better projects and use the latest technologies. MetaFi is already proof of that.

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Sure👍. I hope so too.

I had no idea they changed the name lol, I must be living under a rock.

I wonder what happens to the token framework now, do they rename it to BNB-20?

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Details about this have not been specified yet or I have not seen it.

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That's great. The explanation is simple.

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Thanks.

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K

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