Combining these different blockchain projects enables a full-fledged parallel ecosystem serving users from around the globe. The goal of MetaFi is to build and foster new ecosystems filled with a range of functionality, based around digital assets that empower mass adoption of the metaverse and also provide users and players with new use cases. MetaFi can include DeFi products or a mix of fungible and non-fungible tokens or assets coupled together with community governance such as Decentralized Autonomous Organizations (DAOs). MetaFi will allow for a wide range of blockchain functionality to merge in one meta ecosystem, and it will be interoperable thanks to defined metadata standards used across various platforms and blockchains. This is possible thanks to the metadata that defines ownership of assets. MetaFi is a concept that combines all different types of projects such as Metaverse, DeFi, GameFi, SocialFi, Web3, and NFTs and puts them under one umbrella – MetaFi. MetaFi is a blend of two words - ‘Meta’ for meta ecosystem and ‘Fi’ for DeFi. However, for BNB Chain the use of the word ‘Meta’ means an 'all-encompassing,' or 'a means to an end,” rather than an acronym for the Metaverse. Today, the words ‘Meta’ and ‘Metaverse’ are used by experts and companies worldwide.

With BNB Chain gaining major technical updates, it’s time for the community to take a flight towards MetaFi. The support of its community of users, developers, validators and delegators is vital to its health. Improving scaling solutions and an expansion of the validator set of BSC from 21 to 41 (with 20 validators functioning as candidate block producers)Ībove all, BNB Chain remains a community-driven, open-sourced and decentralized ecosystem. Introducing on-chain governance mechanisms Initiating the Bruno hard fork to increase the BNB burn rate.Ī new BNB Auto-Burn protocol that is objective and verifiableīNB Chain will also embrace large-scale applications, including GameFi, SocialFi and the Metaverse. Over the past year, the BNB Chain community has made even further technical upgrades for progressive decentralization, including: With this name change also comes more advancements to benefit users, projects and developers connected to the BNB Chain community. Holding BNB gives you the right to make your voice heard and is necessary to participate in BNB Chain’s decentralized on-chain governance.

” Along with “fueling” transactions on BNB Chain (similar to gas on Ethereum), BNB also acts as a governance token. BNB Chain’s mission is to build the infrastructure powering the world’s parallel virtual ecosystem, and BNB Chain’s commitment to the community is that it will be:īNB Beacon Chain (previously Binance Chain) - BNB Chain Governance (Staking, Voting)īNB Smart Chain (BSC) (Previously Binance Smart Chain) - EVM compatible, consensus layers, and with hubs to multi-chainsīNB (formerly known as Binance Coin) stands for “Build and Build. MetaFi is also a key part of this too, helping to create a future where interoperability makes lives easier. Innovation never sleeps, and it’s clear that the future goes Beyond Binance into a world of over 1 billion users. From today, Binance Chain and Binance Smart Chain (BSC) become BNB Chain. For BNB to reach its true potential, Binance and BSC must set sail on different courses. The vision is that one day everyone will own BNB, and that’s why it’s necessary to set it free. BNB has its own living, breathing ecosystem, together with BSC. Today, both Binance and BSC remain connected by BNB.īNB is more than just Binance. BSC was born in time for the DeFi revolution, as the public showed increased interest in alternative financial solutions and use cases powered by blockchain. As Binance grew bigger and stronger, so did Binance Smart Chain. Three years later, Binance Smart Chain (BSC) was introduced to the world. Through the concept of MetaFi, BNB Chain will build the world’s parallel virtual ecosystem infrastructureīNB, which stands for “Build and Build” (formerly called Binance Coin), is the blockchain gas token that “fuels” transactions on BNB Chain Binance Chain and Binance Smart Chain become BNB Chain

Binance smart chain