September 1, 2020 Binance launches blockchain for staking BNB.

Binance, the world’s largest cryptoasset exchange, announced today that it has launched a new blockchain on which BNB, the exchange’s native asset, can be staked. The new blockchain is smart contract-enabled and will rely on a “Proof-of-Staked-Authority” consensus mechanism. Binance intends for the platform to focus on dApp and DeFi development in the immediate future.