BNB Chain Event – News Report 2023
Office of Research Innovation and Commercialization (ORIC) organized the workshop “Business and business chain community Development (BNB)” on 3rd March 2023 at Auditorium, 99 building 10:00 A.M. to 12:00 Noon.
Mr. Muhammad Omer Khan a Tech Martian of BnB Chain Pakistan introduces the functions and underlying programming language which differentiate Web3 application in terms of security and authenticity.
Mr. Omer said “The best way to understand the use of Binance Smart Chain app is an overview of the underlying design principles. As a matter of fact, the design principles for BSC tell a lot about how it works and the value of its functionalities. Here are some of the notable highlights in the design principles of BSC. Binance Smart Chain or BSC is an innovative solution for introducing interoperability and programmability on Binance Chain. It uses a system of 21 validators leveraging the Proof of Staked Authority or PoSA consensus, thereby enabling lower fees and reduced block times.”
One of the foremost aspects in understanding ‘What is Binance Smart Chain network?’ is the design feature of Ethereum compatibility. Ethereum is undoubtedly the foremost common and practical platform for developing smart contracts. BSC ensures compatibility with the current Ethereum mainnet in order to facilitate access to its community and collections of relatively mature applications. As a result, Binance Smart Chain easily opens up the scope for using majority of dApps, tooling, and ecosystem components based on Ethereum. Therefore, the BSC implementation can create better prospects for catching up with future Ethereum upgrades.
If you look closely at the design of BSC, you can understand how a Binance Smart Chain wallet ensures better performance. The BSC is basically a standalone blockchain or a layer 2 solution running on the Binance Chain mainnet. Many of the fundamental technical and business functions on BSC are self-contained. As a result, it can ensure availability even if Binance Chain stops temporarily for short periods of time.
The next crucial highlight in any discussion on the Binance Smart Chain app would obviously refer to native cross-chain communication. Implementations of Binance Chain and BSC feature native support for cross-chain communication among the two platforms. In such cases, the communication protocol is trustless, two-directional, and decentralized.
The primary focus of native cross-chain communication would rest on transferring BEP2 tokens in the Binance Smart Chain token list between BSC and Binance Chain. In addition, the list of compatible tokens on BSC also added many new BEP tokens as later entries. The protocol can take care of other items you can find in the storage of the blockchain state, albeit with few exceptions.
Mr. Asif Khalid a lecturer and Program Manager BS Artificial Intelligence at SZABIST Karachi pointed out the BnB Chain Management that we have created our own dApps in SZABIST and soon it will be launched in the market. The students of SZABIST already working on Web3 technology.
There were more than 200 students of CS Department present in the SZABIST auditorium to understand the underlying opportunity. Mr. Omer appreciated the keen interest of SZABIST students and commit a workshop with the same students on March 13, 2023 at CS Department SZABIST with the consent of Mr. Asif Khalid.