The Binance Smart Chain (BSC) was first introduced in April to provide better infrastructure for developers aiming to build Smart Contracts and decentralized applications directly on Binance’s network. Since then, two testnets have been made available – the Rialto and Chapel testnets. According to Binance’s latest announcement, it is only one more testnet launch away from the official mainnet launch of the BSC, which is scheduled to happen before October this year.
“… the team will be able to launch the mainnet of Binance Smart Chain, which will finally unlock the potential of creating smart contracts and more utility for the current and upcoming tokens on the Binance Chain ecosystem,” the announcement reads.
Developers and supporters of Binance can look forward to the Millau testnet launch which has been planned for August, as this is the final precursor to the roll out of the BSC. The BSC will feature a set of 21 validators with the introduction of its staking governance system. It is expected to greatly improve programmability and interoperability on the Binance network, while also staying true to the concept of decentralization and allowing developers easier access to a majority of Binance products existent on the market.
While the BSC gears up for its launch, the Binance Chain (BC) went through an upgrade as well, revealing the BEP8 token for the first time. Coined a ‘mini-token’, this is an addition to the network’s existing BEP2 token, which functions as a conduit between projects transferring their tokens from other networks onto the BC. The BEP8 token is meant for use by smaller or micro-projects, intellectual properties or small token economies and are also cheaper to create with fees starting from 3 BNB onwards.
