Binance Smart Chain
What is the Binance Smart Chain
Unlike Binance’s original “Binance Chain,” the system is called “Binance Smart Chain” according to its latest white paper, and features the Smart contract functionality that Ethereum is known for.
Features are as follows:
- Virtual Machine (EVM) compatibility, support for all existing Ethereum tools and lower transaction fees.
- Native double-chain interoperability allows cross-chain communication and can extend high-performance dApps.
- DPOS (Delegated Proof of Stake) based on 21 verification nodes will provide decentralized power and promote large community participation.
BSC can be described as a parallel blockchain to BC. Unlike the Binance Chain, BSC has smart contract functionality and is compatible with the Ethereum Virtual Machine (EVM). The design goal here is to maintain the high throughput of the entire cryptocurrency chain while introducing smart contracts into its ecosystem.
Essentially both blockchains are parallel. It is important to note that BSC is not a so-called layer 2 or out-of-chain scalability solution on BC. It’s a separate blockchain that works even after the Binance Chain goes offline. From a design perspective, the two chains are very similar.
Because BSC is compatible with EVM, it supports Ethereum tools and dApps. In theory, this makes it easy for developers to port their projects from Ethereum. For users, this means that they can easily configure an application such as MetaMask to work with the BSC with just a few adjustments. Check out the Binance smart chain using MetaMask to start setting up.
What is a smart contract on MLM?
Multi-level Marketing (MLM) ,also known as network Marketing or Referral Marketing, has been popular among companies (offering MLM programs ) and users ( participating in these programs ), owing to the huge earning potential that it offers.
Smart Contract on MLM means multi-level marketing business that runs on principles of smart contracts. MLM business strategy is integrated with blockchain-powered smart contract functionality which makes MLM an efficient marketing model.
Smart contracts on MLM have changed people’s perception about MLM marketing strategy. It has attracted a considerable number of users on its platform through its feature of improved trust-ability and transparency in the working.