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BNB Beacon Chain Becomes Open-Source: What Does This Mean for Businesses?

3 Jul, 20222 min readOther
BNB Beacon Chain Becomes Open-Source: What Does This Mean for Businesses?

In late Q2, 2022, BNB Chain (formerly Binance Smart Chain), a programmatic blockchain developed by largest crypto ecosystem Binance has accomplished a major decentralization milestone.

BNB Beacon Chain now opened for developers: More DEXes to come

As per a statement by BNB Chain representatives, BNB Beacon Chain, a backbone element of the blockchain, becomes fully open source.

With #BNB Beacon Chain going open-source, there are a wealth of opportunities to build.🔸A high-speed order book DEX ensures lightning fast transactions🔸Blockchain interoperability opens doors across the boardExplore the possibilities here ⤵️— BNB Chain 🔶 (@BNBCHAIN) July 3, 2022

As such, every developer can fork its codebase and leverage it to launch their own decentralized exchanges for crypto assets. This method—taking ready-made codebase—is "the time-saving and cost-effective" for builders.

This step is of a particular importance to devs and Web3 businesses due to the high performance and amazing speed of transactions demonstrated by original the BNB Chain ecosystem.

Last but not least, BNB Beacon Chain codebase can serve as the battle-tested technical basis for a multi-chain crypto exchange system secured by Tendermint algorithm.

New decentralization roadmap unveiled by Binance Chain

The next phase of the Binance Chain decentralization strategy will include opening its validator set. BNB Beacon Chain will invite all of its enthusiasts to take part in governance and staking processes.

By the end of Q3, 2022, BNB Chain is going to onboard 41 validators and launch its first sidechain solution, BAS (BNB Chain Application Sidechain).

Then, by 2023, BAS will be replaced by second-generation sidechain design zkBAS with its ultimate level of decentralization and 10,000 transactions per second (TPS) bandwidth.

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