“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.
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