Sep 1, 2020 at 16:53 UTCUpdated Sep 1, 2020 at 16:55 UTC
Binance CEO Changpeng “CZ” Zhao (CoinDesk archives)
Cryptocurrency exchange Binance said Tuesday it launched the mainnet of its smart contract-enabled blockchain and is introducing staking for its native Binance (BNB) token.
- In a press statement emailed to CoinDesk, the crypto exchange said it hopes to foster the development of decentralized apps (dApps) and decentralized finance (DeFi) products by adding these features.
- The new blockchain will use a “Proof-of-Staked” Authority (PoSA) consensus mechanism, which Binance claims will allow the validators to receive rewards for their work on the chain without sacrificing transaction speed.
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