Leading crypto exchange Binance has renamed its blockchain ecosystem from Binance Smart Chain (BSC) to BNB Chain. Some could interpret this move as Binance’s way of creating some between itself and its blockchain ecosystem. Furthermore, the prominent crypto exchange platform renamed its token BNB, formerly known as Binance Coin, to “Build and Build.”
BNB Chain ecosystem coordinator Samy Karim explained this recent development in a media session. According to Karim:
“Over the years, we’ve realized that BNB has evolved into something beyond Binance and in fact, BNB means Build and Build (not Binance Coin), it’s something CZ has tweeted before. The BNB ecosystem is bigger than Binance, and has transcended Binance in terms of its use cases.”
Binance’s official name-change announcement for its blockchain ecosystem comes a week after the aforementioned tweet from its CEO Changpeng “CZ” Zhao. CZ believes that BNB or “Build’N Build” could also directly interplay words that further underscore the larger crypto ecosystem.
Binance believes that removing the Binance name will free up the BNB Chain to become more multi-chain. Furthermore, this will also provide a launchpad whereupon BNB Chain can seek more innovations without restrictions.
Image Credits: Pixabay
Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.
