difference between Binance chain and Binance smart chain? If you’re active in the cryptocurrency an are familiar with Binance exchange, you should know about the fact that Binance and its Smart chain had a lots of progress. Smart Binance Chain’s daily trades has overtaken Ethereum Blockchain and had reached to higher amount of trades.
Here in shetcoiner website we are teaching the differences between Binance Chain and Smart Binance Chain.
What is the difference between Binance Chain and Binance Smart Chain?
For understanding the difference between Binance Chain and Binance Smart Chain you need to understand each other separately first and then we will talk about the differences.
Binance Chain
In the last few years and after Binance’s increasingly progress with its CEO; “CZ”, this exchange has done a lot of creative construction section in itself. One of these innovations and new technologies that Binance presents is Binance Chain. Binance Chain is in fact the BNB’s cryptocurrency Blockchain that has been known.
Binance Chain was set up at 2019 by Binance for hosting a cryptocurrency named Binance Coin (BNB) and of course simplifications in trades at Binance decentralized exchange Binance DEX.
For understanding more about this topic you should know that cryptocurrencies need a base Blockchain for Locating their exchange trades in the network. Binance Coin was developed on Ethereum’s Blockchain network at first but after a while CZ decided to set up Binance Coin’s exclusive Blockchain and get exceed Ethereum.
The Biggest DAPP (Decentralized Application) in Binance Chain is actually Binance DEX exchange. although Binance Chain has a lot of good and safe features but you should know that there is no possible way to have a smart contract on Binance Chain and Binance thought about a better way to support it.
Binance Smart Chain
Binance faced and realized about not supporting the smart contracts and its problems after making BNB cryptocurrency’s exclusive Blockchain. But it didn’t fix this problem by just updating it or adding the possibility of supporting smart contracts and had another idea. Binance and CZ started developing Binance Smart Chain to fulfill the need of smart contracts in the network.
Binance Smart Chain is actually a parallel version of Binance that was set up because of supporting smart contracts in Binance’s new projects.
One of the reasons that Binance didn’t just updated Binance Chain or adding smart contracts to it was that they wanted to prevent “Binance Smart Contract Chain Clogged”.
Binance probably anticipated the tome that smart contracts or Binance Blockchain network will be so busy that Binance Smart Chain’s smart contract or Binance Chain transitions will have some Interferences and troubles. So the separated these two Blockchain with different usage to find a solution for this problem
Difference between Binance Chain and Binance Smart Chain
The main difference between Binance Chain and Binance Smart Chain is that they are separated and of course the fact that Binance Smart Chain supports smart contracts and these two are the main two differences of two Binance’s Blockchain from each other.
