Binance, Exchanges

What Is Binance Smart Chain Extension?

Binance Smart Chain Extension is a new type of blockchain that is being developed by Binance. It is designed to be a more scalable and efficient version of the original Binance chain.

The extension will use a new consensus algorithm, called Delegated Proof of Stake (DPoS), which is designed to be more energy efficient than the current Proof of Work (PoW) algorithm. .

NOTE: WARNING: Binance Smart Chain Extension is a third-party extension that is not affiliated with or endorsed by Binance. Use of this extension may increase risk of financial loss, data theft, and malicious attacks. Use at your own risk.

The extension will also allow for the creation of smart contracts, which will enable developers to create decentralized applications (DApps) on the Binance chain. The extension is currently in development and is expected to launch in 2019.

The extension is designed to address the scalability issues that have plagued blockchain networks such as Bitcoin and Ethereum. By using a more efficient consensus algorithm and allowing for the creation of smart contracts, the Binance team hopes that the extension will be able to handle more transactions than other blockchain networks.

If successful, the Binance Smart Chain Extension could provide a major boost to the adoption of blockchain technology.

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