Bainance officials have officially announced in the past that the Baines Smart China (BSC) and Binance China networks will now operate as part of a single ecosystem called BNB Chain. This renaming does not affect the structure of these two networks and the tokens in them and is only a move to increase the correlation between the different parts of the binance ecosystem.
According to Kevin Telegraph, the network based on the intelligent contract of Bainance Smart China will work next to Bainance China with one name from now on. The Bainance Exchange, which is responsible for both networks, said in a statement Tuesday that Bainance China and Bainance Smart China will continue to operate under the new China Foreign Exchange name to reflect their connection to the ecosystem’s natural token, Bainance Coin (BNB). .
According to the press release, the statement now means “Build and Build” and does not refer directly to Binance Quinn. With the support of Bainance, China Innovation is set to introduce new advanced user features and focus on developing the Web 3.0 infrastructure.
Under the new name China Foreign Exchange, the name of the network management sector, i.e. China Bainance, where the ranking and voting takes place, has been changed to BNB Beacon Chain. Meanwhile, the China Smart Binance section, which is compatible with the Atrium Virtual Machine and supports several different chains, is called China Smart Binance with the same acronym “BSC”.
China puts all its Web 3.0 development tools under one roof, called MetaFi, which brings together developers and projects from Metavars, GameFi and SocialFi. According to Bainance officials, China is expected to provide users with many applications and tools for software development and increase the number of validators from 21 to 41 to expand the scalability of the network.
“Foreign representatives of the Chinese ecosystem,” said Sami Karim.
China’s foreign community will benefit from a $ 1 billion fund that has already been set up and receive financial and operational support. The Chinese currency is also presented to leading experts, consultants and investors in the digital currency industry. Bainance’s ecosystem will then host a wide range of different programs such as online events and seminars, hackathons (product development events) and face-to-face meetings.
Bainance Smart China launched in September 2020 as an alternative to the Atrium China blockchain and was inspired by the platform in its operations, but with lower transaction fees and processing time. In a short period of time, the Chinese Bainance Smart has become a popular choice for developers of DeFi and NFT tokens due to its ease of use, interoperability and low cost. This brand change could be a sign of a new round of Bainance-oriented development programs, a combination of defa and virtual reality in the meta world.
The publication Bainance Smart China and Bainance China networks will work under a new name from now on appeared for the first time in Arzdigital.