In early 2019, Binance launched Binance Chain. By 2020, the community utilized source code from the Ethereum network and launched a modified EVM-compatible blockchain called Binance Smart Chain. In February 2022, both the Binance Chain (rebranded as BNB Beacon Chain) and the Binance Smart Chain (rebranded as BNB Smart Chain) evolved into a unified, modular system referred to as BNB Chain. This dedicated layer1 blockchain is dedicated to building the infrastructure powering the world’s parallel virtual ecosystem. When the two blockchains merged, the Beacon Chain became the dedicated layer used for Governance (staking & voting), and the BNB Smart Chain became the dedicated layer for EVM consensus and execution.