Posted 1 year ago | by Ben Armstrong

Binance Announces the Launch of Binance Smart Chain Testnet

Binance DEX, one of the world’s biggest cryptocurrency communities, has announced the launch of a brand-new and advanced testnet: Binance Smart Chain.

Binance is constantly looking for new ways to engage with its users as well as expanding its offers. If you are investing or planning to invest, take advantage of Binance´s multitude of features and trading pairs by clicking here to sign up.

The Binance Smart Chain Testnet

Two chains will be launched publicly on July 9 of 2020, according to an official Binance Twitter post, with the chains being Chapel testnet and Ganges testnet.

The Chapel testnet of Binance Smart Chain is designed to substitute Rialto while the Ganges testnet will be substituting Kongo.

The testnet will be available for public access once it successfully completes the comprehensive testing mechanisms.

Binance’s team will inform users once it is done with all the procedural requirements by July 10 by publishing a new official announcement.

Also, Binance is calling on its users to have a backup of all the important data on the Rialto testnet as it will be lost after the new chain deployment.

Upgrades and Changes Coming with the New Testnet

The important addition to Binance Chain Nodes includes new features of v0.7.2, the introduction of the BEP8 Token, as well as the listing and trade of BUSD Pairs.

Binance Chain CLI upgrades include the launch of the Binance Chain Client with BEP8 Support and the addition of governance command of sidechain in tbnbcli.

The new testnet supports the native cross-chain transfer of BEP8 token, seamless binding, transfer, and unbinding of BEP8 tokens across two chains, allows unbinding of BEP2 and BEP8 token.

This allows users to cancel tokens on two chains, provides efficient cross-chain communication implementation with better protocol stack, improved scalability, and error management.

The addition of an API is included in the update of the SDK, releasing v1.2.3-bscAlpha.0 on Go-SDK and v1.1.0-bscAlpha.0 on Java-SDK

Binance’s Strategy for the Future

Binance Smart Chain has already some upgrades planned for the future to continue with the improvement in security, features, and performance.

The launching of the Millau testnet will substitute Chapel, while the Danube testnet will substitute both Ganges and Nile, with the addition of Staking UI.

The launch of a Staking game to encourage staking on the ecosystem, hosting a hackathon in the Binance Chain ecosystem and the creation of a “bug bounty” programs for Binance Smart Chain are also part of the platform’s plan.

In the last stage, the Binance team is going to upgrade the mainnet of the Binance Chain by launching the mainnet of the Binance Smart Chain ecosystem.

Articles on Bitboy may contain affiliate links that help us to remain profitable. It might come as a surprise, but all these great articles aren't cheap to produce. If you don't mind helping us out, please click on the links!

About Ben Armstrong

ef4f73e9ddeb61becab57469962fa946?s=90&d=blank&r=g Binance Announces the Launch of Binance Smart Chain TestnetBen Armstrong is a YouTuber, podcaster, crypto enthusiast, & creator of BitBoyCrypto.com. Better known as BitBoy Crypto, he works hard to educate and inform the crypto community.

Ben has been involved with the world of cryptocurrency since 2012 when he first invested in Bitcoin. He used Charlie Shrem's BitInstant & lost Bitcoin in the Mt. Gox hack.

In 2018, Ben decided to go "full-time crypto" and focus all of his time and energy into expanding the reach of crypto.

If you have any questions or comments please feel free to email him at BitBoy@BitBoyCrypto.com or contact him on Twitter @BitBoy_Crypto.