What is the Binance Chain in cryptocurrency?

The Binance Chain is a blockchain network specifically developed by Binance, one of the world's leading cryptocurrency exchanges. Launched in April 2019, it serves as the foundation for Binance DEX (decentralized exchange), offering users an alternative platform for trading cryptocurrencies in a peer-to-peer fashion, with a focus on high throughput and low latency. The chain utilizes a consensus model known as the Byzantine Fault Tolerance (BFT) mechanism which ensures security and speedy transaction confirmations. Additionally, the Binance Chain supports its native cryptocurrency, Binance Coin (BNB), which transitioned from being an ERC-20 token to its own blockchain mainnet with this development. The introduction of the Binance Chain marked a significant step towards more decentralized and efficient trading infrastructure within the crypto ecosystem.