Binance Chain adds smart contract functionality to its platform

Dubbed as Binance Smart Chain (BSC), it could perform better than the main rival Ethereum on some key metrics

Binance is perhaps one of the most well-known names in the blockchain/crypto space. What started off as a cryptocurrency exchange just three years ago has transformed itself into a blockchain giant offering a wide range of services. While the baseline business continues to be a dominant name in the crypto exchange globally, it has continued to broaden the scope of its ecosystem.

Apart from being a beacon of innovation in the space, Binance has been aggressively involved in mergers and acquisitions. The most notable buyout from the company in its short history is its recent acquisition of popular Coinmarketcap (CMC) — a platform with extensive data on prices, volumes and other metrics for 5,290 cryptocurrencies. Although the price tag for the buyout was not revealed, experts put it a staggering $400 million.

There was a lot of buzz last year about Binance launching an Ethereum competitor in the form of the Binance chain. It is common knowledge that Ethereum blockchain has been the premier platform that has provided the foundation for the proliferation of decentralized applications (DApps). And it continues…