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SIMBA Chain to Assist Binance in Developing Second Blockchain

Binance Loans Kicks Off with Interest Discounts
Binance Loans Kicks Off with Interest Discounts

SIMBA Chain, a platform that wants to make blockchain technology more accessible for all, will be supporting Binance from now on.

The chain will be helping Binance, the world’s largest exchange in terms of market volume, to launch a second of its blockchain networks. This one will be to help push the world of decentralized finance with dApps and other similar ideas.

This original platform was called Binance Chain, and this second one will be called the Binance Smart Chain. Binance Chain is useful for trading and such, but it hasn’t done much of anything in terms of providing use to dApps.

This Smart Chain will bring the support of the Ethereum Virtual Machine (EVM) over to the platform. As for SIMBA Chain, a press release notes that it will help via the following way:

“The addition of SIMBA Chain’s Smart Contract as a Service (SCaaS) platform to Binance Smart Chain provides the desired flexibility. At its core, the SIMBA platform auto-generates Representational State Transfer (REST) APIs. This provides REST-based access to smart contract methods that transact on the blockchain ledger and enables access control groups for reading or writing.”

Speaking on the matter is Joel Neidig, the SIMBA Chain CEO:

“Binance is the largest cryptocurrency exchange in the world and now that they are allowing smart contracts, SIMBA Chain can provide crypto entrepreneurs an amazing opportunity to develop their own DeFi solutions on many different blockchains with Binance’s capabilities of supporting cross chaining.”

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