Binance Smart Chain Rebrands to BNB Chain

• Decentralized blockchain ecosystem Binance Smart Chain (BSC) is set to unite the Binance Chain and the Binance Smart Chain under a new name

• The new chain called “BNB Chain” aims to reflect the connection between the blockchain and the native token of the ecosystem “Binance Coin”

• The company’s press release indicates that BNB now stands for “Build and Build” rather than a short name for Binance Coin

Binance Smart Chain (BSC), the base blockchain of cryptocurrency exchange Binance has announced a rebrand and expansion. What was once regarded as the Binance Smart CHain will now be known as the BNB Chain, which stands for Build and Build.
The BNB Chain will be made up of two parts which include the Binance Smart Chain and the Binance Chain.

Following the announcement, Binance disclosed that it has committed over $1 billion to support the BSC ecosystem as it competes with the Ethereum network and other base blockchains. These changes come after huge criticism for BSC for being too centralized, as well as rug pulls that have happened under the ecosystem.

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In the design of the BNB Chain, Binance will give up some of its decentralization to compete with Ethereum, as noted by CEO Chapend Zhao, according to CoinDesk

The BNB Chain will also allow more validators on BSC, up to 41 from 21, with the new validators functioning as candidate block producers.

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