Binance Smart Chain, a Proof of Staked Authority (PoSA) consensus-based blockchain running parallel to Binance Chain, has brought smart contracts functionality and Ethereum Virtual Machine (EVM) compatibility to the Binance Chain ecosystem. Ankr, the blockchain cloud infrastructure for blockchain applications, now enables everyone to run a Binance Smart Chain Validator instantly and conveniently.
For those who can’t wait to try it out, the testnet Validator for Binance Smart Chain is now available on the Ankr platform. Users can claim testnet BNB tokens on the testnet faucet. Check here for a step-by-step guide on how to deploy and run the Binance Smart Chain Validator.
Ankr makes deploying a Binance Smart Chain Validator truly effortless and seamless:
- With Ankr’s custom one-click deployment UI, it takes minutes to deploy your Binance Smart Chain Validator, while on any public cloud provider like Amazon AWS and Microsoft Azure, the configuration and deployment involves documentation, manual setup and upgrades that could take a while.
- There is absolutely no technical knowledge required to set up and maintain a Binance Smart Chain Validator on Ankr. Everyone can do it!
- Once the free trial ends, you are able to pay the hosting costs not only with credit card, but also with several cryptocurrencies, such as ANKR and USDT.
- Ankr has a dedicated team of blockchain-native support specialists who are there for you 24/7.
Ankr will be offering free hosting services to users who want to run a Validator starting July 31 until August 31, 2020.
Try out immediately for free!
Dual-Chain Architecture and Validator Set
The team behind Binance Chain, the community-driven blockchain software system developed by Binance and its global community, released the Binance Smart Chain Whitepaper in April 2020. This dual-chain architecture will retain the high performance of Binance Chain and support a friendly Smart Contract function that enables developers to build dApps on top of Binance Smart Chain while accessing the fast trading and liquidity on Binance DEX.
Highlights of Binance Smart Chain:
- A self-sovereign blockchain: Provides security and safety with elected validators.
- EVM-compatible: Supports all the existing Ethereum tooling along with faster finality and cheaper transaction fees.
- Interoperable: Comes with efficient native dual chain communication; optimized for scaling high-performance dApps that require fast and smooth user experience.
- Distributed with on-chain governance: Proof of Staked Authority brings in decentralization and community participants.
The top 21 nodes with the highest BNB stakes will form the Validator set on Binance Smart Chain.
Currently on the testnet, Binance Smart Chain mainnet will launch in the third quarter of this year, which will finally unlock the potential of creating smart contracts and more utility for the current and upcoming tokens on the Binance Chain ecosystem, and building it into the key infrastructure for DeFi applications.
Binance Smart Chain Validator and More
Besides enabling anyone to deploy a testnet Binance Smart Chain Validator that will eventually be utilized to secure the chain and earn passive income as the validator and delegator, Ankr offers Binance Smart Chain API services to facilitate global developers.
With gas prices rising on Ethereum, it’s worthwhile to look at alternatives for providing popular DeFi services, such as staking, borrowing, lending and yield farming, to the growing user base. Binance Smart Chain provides the option for developers to build DeFi products on the fastest and cheapest public blockchain out there.
Ankr offers a Binance Smart Chain API endpoint that allows developers to work with the Binance Smart Chain testnet, and eventually with the mainnet. To let developers get started with building on Binance Smart Chain immediately, Ankr provides access to a limited number of API requests for FREE.