BREAKING: Binance Chain expected to launch today

NEWS IN BRIEF

202
binance chain

Binance has signalled in a somewhat cryptic twitter post that its highly-anticapted native blockchain platform, Binance Chain, will launch within hours.

“Today marks the birth of a new genesis block. Who’s ready?” Tweeted Binance, just minutes ago.

A ‘genesis block’ refers to the first block to be recorded on a blockchain.

A testnet launch of the new blockchain was undertaken in February.

The blockchain will power Binance’s new decentralised exchange, Binance DEX, while the Binance Coin (BNB) will be migrated to Binance’s blockchain from the Ethereum blockchain.

“Binance Chain is a very simple chain in terms of application, but it can handle very large loads,” said Binance CEO Changpeng Zhao in February.

“It is our opinion that the load is more important than the features.”

Over the past months its understood Binance has been trying to convince Ethereum-based projects to move onto Binance Chain.

RELATED: Binance will survive for 100 years, says founder.