One of the world’s largest decentralized blockchain ecosystems has announced its rebranding. Binance Smart Chain (BSC) is turning into BNB Chain.
The rebranding is intended to highlight the evolution of the BNB ecosystem “beyond Binance” and its connection to the BNB token, and to clearly demonstrate that BNB has surpassed Binance in terms of features and use cases.
“The BNB network will cover large scale applications including GameFi, Socialfi and MetaFi. Specifically, scaling from single chain to multiple chains, improving scaling solutions, and expanding the set of BSC validators from 21 to 41,” said BNB Chain Ecosystem Coordinator Samy Karim.
Changes will affect not only the name. As part of the BNB Chain community, users are promised new opportunities and new projects.
For example, this is the development of the MetaFi direction, where it is planned to create an infrastructure to ensure the functioning of a parallel virtual ecosystem. The company notes that for the BNB network, the use of the word “meta” means “all-encompassing” or “means to an end,” rather than simply shortening the word “metaverse.”
MetaFi is a concept that involves the integration of the DeFi infrastructure and projects of various types, such as Metaverse, GameFi, Socialfi, Web3 and NFT, where “Meta” is for metadata and “Fi” is for DeFi. MetaFi may include DeFi products or a combination of fungible and non-fungible tokens or assets, combined with community governance such as decentralized autonomous organizations (DAOs).
At the end of 2021 Binance Smart Chain (BSC) informed on Twitter that the total number of transactions on the network has reached 1.5 billion. According to BscScan, the daily number of transactions on Binance Smart Chain has reached 10 million.
Source: Bits
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