RATE Group | BNB Holders to Enjoy New Utility as Binance Takes on Ethereum
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BNB Holders to Enjoy New Utility as Binance Takes on Ethereum

18 Apr BNB Holders to Enjoy New Utility as Binance Takes on Ethereum

Posted at 05:37h in Cryptocurrency News by

The crypto exchange Binance is preparing to enter the smart contracts market by launching a new Ethereum-compatible blockchain. The move is set to increase the utility of Binance’s native token, BNB, which could see its price jump.

Binance to Enable Smart Contracts

Binance announced the introduction of Binance Smart Chain (BSC). It will run in parallel to the exchange’s current Binance Chain and will enable support for smart contracts.

The world’s largest cryptocurrency exchange by trading volume revealed that BSC will employ the interoperability and programmability features of the Ethereum Virtual Machine (EVM).

“BSC chooses to be compatible with the existing Ethereum mainnet. This means most of the dApps, ecosystem components, and toolings will work with BSC and require zero or minimum changes,” reads the whitepaper.

The Binance Chain Development Community will be responsible for maintaining the new blockchain. This community will work to entice developers and…

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