Learning About Binance Smart Chain: Decentralized or Decentralized?

At Bicoinist, we cover the growth of the Binance smart chain as it unfolds. It may be the largest cryptocurrency exchange in the world, but we still admire what Binance has built overnight. And about their contribution to the DeFi field in such a short time. But can Binance smart chain technically be considered part of the DeFi space? What is the exchange saying about the Binance Smart Chain? According to researchers Messari Wilson Withiam and Ryan Watkins, BSC is a central issue. This is the reason for fast transactions, low rates and success. His cases are logical, but that's not even the weird part of it. The most surprising thing about this whole situation is that everyone in the crypto space seems to be aware of it. Let's start over. As far as we can judge, the company does not claim that BSC is a decentralized platform. They say: Binance Smart Chain (…) is a new blockchain with a full-fledged environment for developing powerful decentralized applications. It is designed for cross compatibility with Binance Chain to ensure users have the best of both worlds. Can applications be considered decentralized, even if there is no medium? Probably. Especially those in a cross chain. BNB market cap (calculated by TradingView) | Source: TradingView.com The CeDeFi concept sounds like an oxymoron, as in Centralized Distributed Finance. However, it made sense in the context of two sister chains, one central and one decentralized. Wasn't Binance Smart Chain a decentralized version of Binance Chain? Apparently not. Related reading | Binance has set a BNB record of $ 600 million in its 15th quarter. Regarding the verification process used by the new chain, the exchange says: Binance Smart Chain uses a consensus model called Proof of Staked Authority (PoSA). (…) This consensus model can support short blocking times and lower costs, and it

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