Binance Smart Chain Upgrade for Improved Security and Compatibility in DeFi!

The post Binance Smart Chain Upgrade for Improved Security and Compatibility in DeFi! appeared first on Coinpedia Fintech News

Binance’s BNB Smart Chain (BSC) is scheduled to undergo two hard forks in August 2023. The aim is to improve security and compatibility with other EVM blockchain networks, thereby enhancing its position in the DeFi ecosystem. The upgrades will minimize the risk of malicious blockchain reorganization and increase BSC’s compatibility with other EVM networks. Binance assures users that these upgrades will be seamless and will not disrupt existing applications on BSC. BSC has gained popularity in the decentralized finance (DeFi) space due to its faster transaction speeds and lower fees compared to the Ethereum network.