Did you know BNB is an abbreviation for 'Build' N Build?' We put together an ultimate guide for people looking to dive into Binance's layer-1 blockchain.
The Binance Smart Chain is now the BNB Chain. BSC, crypto exchange Binance’s layer-1 blockchain, recently announced the merger of the Binance Smart Chain and the Binance ChainThe relaunch of Binance’s layer-1 or base blockchain is part of a plan to link it tobecause it carries the company’s name,” said Binance CEO Changpeng Zhao. “We’ve done a lot of work to decentralize it and hope to make BNB go beyond Binance,” he added.
According to Binance CEO Chanpeng Zhao, “BNB” is an abbreviation for “Build ’N Build.” In a tweet, Zhao shared that “BNB stands for “Build the community, and let the community build, build, ’n build.” As a result of the token’s growth on BSC, Binance now considers BNB as the token for a greater ecosystem, including the Binance Chain and BSC. This move is part of the crypto giant’s effort to go beyond Binance. BNB is now the token for the BNB Chain.The BNB token, formerly known as the “Binance Coin,” now stands for “Build and Build.” BNB is the cryptocurrency that fuels the BNB Chain ecosystem and the native coin of both the BNB Beacon Chain and the BNB Smart Chain.
BEP-2 is the BNB Beacon Chain’s token standard, while BEP-20 regulates tokens on BSC. The BEP-20 token standard is frequently compared to Ethereum’s ERC-20 token since they are pretty similar in many aspects.
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