Binance Smart Chain And CeDeFi Explained


So what is Binance Smart Chain? How is it different from Ethereum? And what is CeDeFi all about? You’ll find answers to these questions in this video.

In April 2018, Binance – one of the biggest cryptocurrency exchanges, decided to launch their own blockchain – Binance Chain.

The main idea behind Binance Chain was to create a high-speed blockchain able to support large transaction throughput.

To achieve this, the team behind Binance Chain chose the Tendermint consensus model with instant finality and instead of supporting multiple applications, decided to focus on its primary app – Binance DEX.

With DeFi on Ethereum flourishing and Binance DEX not getting as much traction as expected, Binance very quickly realised that the main feature missing from Binance Chain was the ability to run smart contracts and allowing other teams to deploy their own applications.

At this point, Binance made an interesting decision. Instead of trying to add smart contract capabilities to Binance Chain and sacrificing its performance, they decided to launch another chain in parallel to Binance Chain and this is where Binance Smart Chain comes into play.

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30 gedachten over “Binance Smart Chain And CeDeFi Explained”

  2. Defi on bitcoin is the future and will make even ETH irrelevant. Proof of stake is central banking as we know it now.

  5. Honestly, props of your videos. Very explained great project that has a great community. Thank you.

  6. Landed here searching for Binanace Smart chain.. Went ahead to watch the video after reading a few comments… Thank you for the step by step explanation.

  8. I don't think it has to be one or the other, ETH and BSC can co-exist quite nicely. If you want the decentralization you can pay the premium, or you can spread your risk in other decentralized assets such as BTC. 

    View crypto as an entire sector of your portfolio and it will make much more sense that this is not one or the other.

    Especially if you are younger you should have a MINIMUM 10% exposure to crypto imo. Cheers!

  9. this was made recently i appreciate the explanation of BSC but average eth block times hasnt been 13s average in so long

  10. Binance being Chinese, use their standard approach to clone and resell for cheap.

  12. Nice explaination sir now i understand crypto well.. does this mean those block chains arent yet perfect?

  13. your content is so very good. many thanks for your valuable time. best and success!

  15. If layer 2 solutions fixed layer 1 problems there would be no need for ETH 2.0.

  16. unfortunately, 6 months later, the fees on the ethereum based defi including polygon based sushi etc, are still very very expensive! it cost hundreds to use these services, sigh…

  17. Pls People need help here. I send eth to my direct wallet efter I aktivate it on binance. Now i know its wrong way to do it but can I get my eth somewey?

  21. If polygon would have come long before, BSC wouldn't even be a thing

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  27. * The Binance Chain was launched by Binance in April 2019, not 2018!

  29. sincerely appreciate the work you've done and the
    knowledge you share. Technical analysis can be helpful, but I
    think It is quite puzzling that well-known
    YouTubers just pay attention to pure T.A and entirely ignore
    the bigger narrative of why this digital assets are inflating

  30. great video…QUCIK QUESTION :
    Where does the Bep20 come into play here?
    Do you have any guide for it 😉

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