Introduction

Intro

Binance Chain is a blockchain developed by Binance and its community that implements a vision of a decentralized exchange (DEX) for digital assets.

At the heart of Binance Chain is a highly performant matching engine built on distributed consensus that aims to replicate the <1 second trading efficiency of current centralized exchanges.

Binance Chain transactions burns BNB (the native token of the Binance ecosystem), according to a fee schedule.

Binance Chain also includes efforts to implement listing assets from other chains, and cryptographic primitives such as threshold signatures.

Functionality

Binance Chain has the basic features of most blockchains:

  • Sending and receiving BNB and digital assets
  • Issuing new digital assets (we have a standard called BEP-2)
  • Mint/burn, freeze/unfreeze, lock/unlock of digital assets

It has DEX and trading-specific functionality:

  • Propose exchange listing for trading pairs
  • Creating maker/taker orders for traders
  • Listing assets from other chains using atomic swaps (BEP-3)

Binance Chain also implements new features, such as

  • Threshold Signatures (an alternative to multisig)
  • Smart Contracts sidechain (in-progress)

Participate

There are different ways to participate in the network, from light nodes to full validators.

Binance Chain follows a philosophy of progressive decentralization. We envision a future where organizations and individuals can run validator nodes, and BNB can be staked to join governance.