Binance Beacon Chain Becomes Open-Source

First Ever L2 on BNB Chain Now Live on Boba Network
  • BNB Beacon Chain open-source will advance many looming crypto projects.
  • BNB is focused on building a parallel virtual economy with Metadata and Defi.

The BNB Beacon Chain which was released at the start of the year as a combination of Binance Chain and Binance Smart Chain (BSC), has been announced to become open-source. The major focus on the transition from BSC to BNB was on the BSC’s functioning with the BNB token & ecosystem.

The BNB Chain is a community-driven and decentralized environment. The platform aims to construct an alternate virtual economy with the backing innovation of MetaFi, that involves Metadata and DeFi

Another talk of the town about Binance is the suspension of the current transaction partner in Brazil. The transfer is being made due to the changes in the regulation of the country’s central bank. The platform also states that this transition will make the customers’ processing at ease.

Binance announces:

“…it will switch from its current payments partner in Brazil to provide a better solution for customers while driving the acquisition process. from the local brokerage company Sim;paul” 

Open Sourcing Reactions

Though there was no official declaration from BNB or Binance side, the news seemed to have created hustle in the developer community. The logic and functioning of the BNB chain will provide a roadmap for upcoming platforms.

Also, the investors and end-users have a heightened fear that the crypto market may get flooded with enormous Punzi coins and platforms. This depth in the fear may be because of the failure of various coins and the fall of price by market pioneers.

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