Definition ∞ A Smart Chain is a type of blockchain network specifically designed to support the execution of smart contracts and decentralized applications. These chains often offer improved transaction speeds and lower fees compared to earlier blockchain iterations. They typically feature compatibility with existing virtual machines, allowing developers to migrate or build new projects efficiently. Such platforms enable a wider range of complex digital interactions.
Context ∞ Smart Chains are a frequent topic in crypto news, especially concerning the expansion of decentralized finance and web3 ecosystems. Platforms like Binance Smart Chain are often discussed for their role in facilitating various applications and tokens. Debates continue regarding their decentralization, scalability, and security relative to other blockchain architectures.
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