Bainance Smart China and Bainance China networks will now operate under a new name

Bainance officials officially announced yesterday that the Bainance Smart (BSC) and Binance Chain networks will henceforth operate as part of a single ecosystem called the 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 different parts of the binance ecosystem.

To Report Kevin Telegraph, China’s smart contract network Binance Smart is set to operate under a single name with China Binance from now on. Bainance Exchange, which is in charge of both networks, said in a statement on Tuesday that Bainance China and Bainance Smart China will continue to operate under the new name of China Foreign Exchange to reflect their relationship with the ecosystem’s native token, Baines Coin (BNB).

According to the press release, the statement now stands for “Build and Build” and does not refer directly to Binance Quinn. With the support of Bainance, China Innovation is set to introduce new advanced features to users and focus on the development of Web 3.0 infrastructure.

Under the new name of China Foreign Exchange, the name of the network governance sector, ie China Bainance, where stacking and voting take 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 the China Smart Binary with the same acronym “BSC”.

China is putting all of 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’s foreign policy is expected to provide users with many applications and tools for software development, and to increase the number of validators from 21 to 41 to expand the scalability of the network.

“China’s foreign ecosystem officials,” said Sami Karim.

China’s foreign community will benefit from a $ 1 billion fund that has already been set up and will receive financial and operational support. China’s foreign exchange is also introduced to leading experts, consultants and investors in the digital currency industry. The Bainance Ecosystem will then host a wide range of different programs such as online events and workshops, hackathons (product development events) and face-to-face meetings.

Bainance Smart China was launched in September 2020 as an alternative to the Atrium China blockchain and was inspired by the platform in its operations but with less transaction fees and processing time. In a short period of time, China’s Bainance Smart became a popular choice for DeFi developers and NFT tokens due to its ease of operation, interoperability, and low cost. This brand change can be a sign of a new round of Bainance-centric development programs, a combination of defa and virtual reality in the meta-world.