What is Binance

Binance is an exchange platform for cryptocurrencies and tokens. It is one of the most popular exchanges in terms of market volume and provides a diverse choice of trading pairs and cryptocurrencies. Binance established the Binance Chain blockchain in 2019, with the Binance Coin (BNB) as its native currency. Binance developed a second blockchain dubbed Binance Smart Chain, which operates alongside the Binance Chain, resulting in a "dual-chain" system of two interacting blockchains. This dual-chain is compatible with the Ethereum Virtual Machine and enables smart contracts. The primary exchange of Binance is centralised. Binance, on the other hand, has launched a decentralized exchange, Binance DEX, which operates as a dApp on the Binance Chain.

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