Binance, the world’s largest centralized crypto exchange by trading volume, is removing its name from Binance Smart Chain (BSC), in what appears to be an effort to strike a distance between Binance the exchange and company, and the blockchain ecosystem it created in September 2020. Going forward, the blockchain is named BNB Chain, which suggests a closer relationship with the Binance token BNB.
The BNB token was initially issued in 2017 as an ERC-20 token, running on the Ethereum network. Later in April 2019, it was migrated over to the Ethereum Virtual Machine-based Binance Chain and eventually became the economic fuel for the BSC network.
BNB is now the “Build N’ Build” token
Though not included in the official announcement blog post, Binance CEO Changpeng “CZ” Zhao has previously tweeted that the BNB token should be named “Build N’ Build”, not Binance Coin as most people know it.
The relationship between the BNB token and the now BNB Chain makes the name change s
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