The difference between the Binance platform and the BNB Chain network
Binance and the BNB chain are two important elements in the world of cryptocurrencies, but they serve different purposes and operate in distinct ways. In this article, we will review the differences between them and the role of each in the digital currency ecosystem.
Binance: It is the central organization behind the largest digital asset exchange platform in terms of trading volume. Founded in 2017 by @CZ , Binance offers a wide range of products and services that include:
1. Cryptocurrency trading.
2.Digital wallets.
3.Decentralized finance services #DeFi .
4. Education and awareness.
BNB Chain: is a decentralized ecosystem that was initially created by Binance, but has evolved into a public, community-led system. It features the following:
1. Decentralization.
2. Decentralized applications #DApps .
3. Community governance.
4. Large transaction volumes.
Key differences between #Binance and #BNBChain
1.Centralization versus decentralization:
Binance: A centralized organization run by a single company.
BNB Chain: A decentralized system run by a network of validators and the community.
2. Roles and objectives:
Binance: It aims to provide digital currency trading services and more products related to digital currencies.
BNB Chain: seeks to provide a decentralized infrastructure for developing and operating decentralized applications and smart contracts.