According to Binance official news, the community-driven Binance Chain development team released a white paper on the plan to extend the functionality of Binance Chain through parallel chains: Binance Smart Chain. This solution will maintain the high-performance matching of Binance DEX and realize the developer-friendly smart contract function. Binance Smart Chain is committed to providing services to all developers and is an innovative solution that brings EVM programmability and cross-chain interoperability to Binance Chain. A few months ago, the Binance Smart Chain started development, and the initial version of the Binance Smart Chain testnet is nearing completion. There are relatively few validator nodes in the early stage of the testnet. Wallet services such as Trust Wallet will be supported soon, and other development tools will be gradually announced. After the testnet is fully tested, the mainnet of the Binance Smart Chain will be launched later. As a native token, a part of BNB will be migrated to the Binance Smart Chain as startup capital. The 21 candidates with the most mortgage funds will become validators. BNB holders can also choose to entrust their BNB assets to obtain income.