Binance Smart Chain 2020 Recap – Building the DeFi Infrastructure

On September 1, 2020, we made one of the most important announcements in the history of Binance. Only five months after it was first introduced in April 2020, the community launched Binance Smart Chain, the parallel blockchain to Binance Chain, to enable the creation of smart contracts, and an innovative staking mechanism for BNB, one of the world’s top cryptocurrencies.

A quarter has passed since the BSC mainnet launch, and we want to share with you the growth and development of BSC’s ecosystem, the future infrastructure bridging the world’s of centralized and decentralized finance.

BSC 2020 Timeline

September - The First Steps in Bridging CeFi and DeFi

Sep. 1: On this day, we launched Binance Smart Chain and introduced our partnership with CertiK to Secure the DeFi Ecosystem. The launch of BSC, an Ethereum Virtual Machine-compatible blockchain that is ready to be tested and piloted by some of the top projects in the crypto industry was expected to greatly increase the utility of both Binance Chain and BNB.

Sep. 4: BSC implements the Project Token Canal. The new token feature, similar to many existing ‘wrapped coins’ in the crypto community provides the BSC with additional functionality.

Sep. 8: Binance Smart Chain and Binance Chain implement Token Binding. This new functionality ensures that one token can circulate in both formats with confirmed total supply and be used in different use cases. Token Binding can happen at any time after BEP2 and BEP20 are ready.

Sep. 11: Binance officially launched the $100 million Binance Smart Chain (BSC) Accelerator Fund. Through this program, Binance will provide liquidity support for the launch of projects based on the BSC ecosystem and help warm up the market for blockchain protocols in terms of liquidity and locked values, connect DeFi and CeFi.

Sep. 18: BSC announced a strategic cooperation with PeckShield on promoting the industry cooperative Cryptosafe Alliance, DeFi early warning scanning, and quick response, among other security initiatives.

Sep. 21: On this day, we introduced Binance Extension Wallet and invited dApp Developers to join the BSC ecosystem and start building on the BSC infrastructure using the latest crypto wallet with cross-chain transfers between Binance Chain and Binance Smart Chain.

Sep. 30: A Decentralized Framework for Data Monetization, Prometeus, starts building on BSC together with Cartesi, a decentralized Linux environment for DApps.

Sep. 30: Binance Bridge launches (as part of Token Canal Project). Through these bridging services, users can directly bridge their cross-chain assets from centralized or decentralized wallets to BSC with one-click. Binance Bridge facilitates the cross-chain circulation of different networks and truly realizes a connected blockchain world.

October - New Partners Join the BSC Ecosystem

Oct. 2: CertiK Introduces Suite of Security Offerings on Binance Smart Chain.

OCt. 9: Build Binance Smart Chain Applications Faster with Curvegrid’s MultiBaas Blockchain Middleware. Binance Smart Chain (BSC) is supported as a first-class blockchain platform on Curvegrid’s MultiBaas blockchain middleware. MultiBaas helps get decentralized applications (DApps) to market quickly, easily, and in a cost-effective manner by taking much of the complexity out of dealing with blockchain.

Oct. 14: Through the $100 BSC Accelerator Funds, the first phase of the program will provide a total of $10,000,000 in liquidity support, with AMM (automated market maker) projects such as Pancakeswap, Burgerswap, Bakeryswap, and decentralized lending provider Fortube being the first batch of blockchain protocols receiving such liquidity support.

Oct. 14: VIDT B2B & B2C NFTs on Binance Smart Chain (Teaser). VIDT Datalink is a blockchain-powered data validation platform. VIDT Datalink enables organizations to protect their digital data against fraud and manipulation.

Oct. 15: In cooperation with Binance.com, the BSC community announces open registration for BUIDL Reward Program to further encourage the development of the dApp ecosystem on Binance Smart Chain.

Oct. 16: Decentralized Freelance Service LaborX Joins Binance Smart Chain.

Oct. 20: Binance Smart Chain released BUILD Program Update- How to Query Smart Contract Gas Usage. Now developers can create smart contracts and build decentralized applications atop BSC. Since day one, Bitquery.io support query any Dapp data from Binance smart chain mainnet and testnet using its GraphQL APIs.

Oct. 28: Binance Smart Chain released BUIDL Reward Program Updates - Leaderboards & More Resource. A developer leaderboard is now available at binance.org/en/leaderboard. All participants can query their smart contract’s gas usage here.

November - BSC Infrastructure Expands

Nov. 3: Bithumb Global Is Supporting Binance Smart Chain. Bithumb is one of the first exchanges to support Binance Smart Chain with the projects within its ecosystem.

Nov. 4: Binance Security team helped recover 99.9% of an estimated $345,000 worth of funds stolen as the result of an exit scam on BSC, exemplifying how the team continues to put users first and take action in the best interest of the industry and its community.

Nov. 13: Binance Extension Wallet V1.114.0 is released and verified on Firefox and Chrome. Binance Extension Wallet allows Binance Smart Chain users and developers to get started, seek out helpful resources, tap the community for troubleshooting help and flag bugs.

Nov. 18: Binance Smart Chain announced a partnership with SaaS company Arkane to beef up the platform's development tools and services allowing game studios and developers to build innovative games on a scalable blockchain.

Nov. 24: Blockchain Infrastructure provider NOWNodes joins Binance Smart Chain, allowing any developer or project on BSC can use NOWNodes instead of running full nodes on their own, saving money on infrastructure, node maintenance.

Nov. 24: Binance Smart Chain released “BUIDL Reward Program Updates - November”, announced the total amount of gas consumed by all registered contracts is more than 4K BNB in the month, with 195 new registered contracts.

Nov. 24: Binance Smart Chain community released tutorials “4 Ways To Do More With BTC on Binance Smart Chain!”

Nov. 30: Binance Smart Chain v1.0.4 is released. All validator nodes on BSC testnet have upgraded to this new version.

December - Enhancing Bridges, Supporting Hackathons

Dec. 2: Binance Extension Wallet v1.121.1 is released and verified on Firefox and Chrome.

Dec. 2: The campaign “Gitcoin Grants Round 8 Hackathon” launched by Binance X accepted submissions for projects built on Binance Smart Chain. The campaign seeks to enrich the blockchain ecosystem in general with innovations that use BSC to offer compelling solutions.

The hackathon offered up to $60,000 in cash prizes.

Dec. 11: Chainlink Oracles, the Marketing - leading decentralized oracle network, has been successfully integrated on Binance Smart Chain.

Dec. 14: Injective Partners with Binance Smart Chain to Accelerate Derivatives Adoption on BSC.

Dec. 21: Binance Smart Chain has teamed up with Bondly, an industry leader in the DeFi and NFT space, to bring you the greatest Christmas gift of all: self-sovereign art.

Dec. 22: Binance Bridge V2 Released, a brand new bridge service providing access to inter-blockchain liquidity for all popular blockchain networks, brings valuable assets such as BUSD, USDT, and ETH to Binance Chain ecosystems.

Dec. 24 AllianceBlock and Binance Smart Chain announce Liquidity Mining Partnership in the First Step to Bridge CeFi with DeFi.

As of the end of last December, the Binance Smart Chain community has released 11 interviews for BSC Project Spotlight, here you can learn more about these projects with the link.

1. Arkane Networ
2. AnySwap
3. Bounce
4. Bitquery
5. BugerSwap
6. Blink
7. Defistation
8. ForTube
9. Injective Protocol
10. Tenderly
11. PARSIQ
    

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