Binance Chain went live on April the 19th this year. It’s launched pushed the BNB token to an all-time High. The first major coin to achieve this since the great bull run of 2017 & 18. Several Ethereum based projects have subsequently migrated to Binance Chain including the BNB token itself.
Can Binance Chain establish itself as a contendor it the smart contract blockchain arena? Or are there better offerings out there?
It should be noted that Changpeng Zhao, the CEO of Binance, has stated that the Binance chain is not currently supporting smart contracts and therefore is not a Binance Killer. There is no reason why this functionality could not be added in the future. The motivation behind developing their own chain seems to co-incide with Binance entering the Initial Exchange Offering arena. Perhaps Binance wanted their own dedicated blockchain for launches?
Media rumours suggest that Binance be attempting to leverage its market position to incentivise/push projects into migrating their tokens from Ethereum to BinanceDEX.