Binance Creates A New Blockchain: Here’s What’s Known!

Cryptocurrency exchange Binance has officially announced a separate blockchain where transactions can be executed and processed faster and cheaper.

Binance Tries to Revive BNB Blockchain with Technology of Interest on Ethereum

Binance, the world’s largest cryptocurrency exchange by trading volume, accelerates transaction times and BNB wants to lower fees for its blockchain. It will be the latest institution to adopt a technology known as zero-knowledge (ZK) collection for this purpose.

The development, planned for next year, will allow BNB to process between 5,000 and 10,000 transactions per second, according to the statement.

This increase is the largest smart contract chain in terms of user base and transaction volume and is considered the best in this regard. Ethereum It will significantly exceed its current capacity.

Thus, Binance has announced a separate blockchain technology, where transactions can be carried out, processed faster and cheaper, and the results will be transferred to BNB.

This technology, which seems quite complex, was thought to take years to be used in real environments until recently.

However, it is a fact that Binance’s emphasis on the rollout of ZK indicates that more progress can be made in this area in the coming period.

Arnaud Bauer, Binance project solutions architect, said in a statement that the development will provide greater security for decentralized application (dapp) operations and increase inter-chain interoperability, allowing dapps to expand their user base.

*Not investment advice.