In this episode of Crypto 101, we’ll be talking about what will happen to coins on Binance Smart Chain (BSC) if Binance shuts down.
Binance is one of the largest and most influential crypto exchanges in the world. Binance has been a major force in the crypto world since its launch in 2017. Binance is also the creator of Binance Smart Chain (BSC), a blockchain platform that provides developers with the tools to create and launch decentralized applications (dApps).
So, what would happen to coins on BSC if Binance shuts down?
First, it’s important to note that BSC is a decentralized platform. This means that it isn’t owned or controlled by Binance. BSC is a public blockchain network, where anyone can participate and contribute. Therefore, if Binance were to shut down, the BSC network would still be operational.
However, Binance does play a major role in the BSC ecosystem. Binance provides the tools necessary for developers to build and launch dApps on BSC. If Binance were to shut down, the development of dApps on BSC would be significantly impacted.
In addition, Binance is also a major contributor to the BSC ecosystem in terms of liquidity. If Binance were to shut down, the liquidity of BSC coins would likely be affected.
In conclusion, while BSC would still be operational if Binance shuts down, the development of dApps and the liquidity of BSC coins would be significantly impacted.
