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Is Binance Smart Chain Ethereum’s Biggest Rival? By CoinTelegraph

Is Binance Smart Chain Ethereum’s Biggest Rival?

Binance Smart Chain (BSC) is the blockchain ecosystem developed by Binance, currently the world’s largest exchange by trade volume. Binance Smart Chain was launched in 2020 to complement Binance Chain, which runs Binance’s decentralized exchange (DEX).

Binance manages two different blockchains, with a somewhat confusing naming system. Binance began its foray into decentralized finance with the launch of the Binance Chain in April 2019.

Binance Chain Created in 2019 to support the Binance DEX. This chain is compliant with the BEP-2 token standard. It does not support smart contracts and is therefore quite limited and not widely used.

Read the full article on Cointelegraph

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