[Exclusive Interview] Sam Shim "Supporting Korean Developers Advance Into the World"

As a layer 1 blockchian of Binance, 'Binance Chain(BNB Chain)', has been cleary growing during 'Crypto Winter'.

The BNB chain has long surpassed the Ethereum network by expanding its force with the growth of 'NFT' and 'DeFi'. In the market, BNB Chain, which has the world's No. 1 exchange Binance on its back, would consider it as the global largest layer 1 blockchain. The BNB chain has given blockchain developers the perception of 'a front runner' that it has the largest scale of blockchain in the world.

However, it is still unfamiliar with Korean investors and developers. In response, Blockstreet, a media specializing in blockchain, met with Sam Sim BD (Business Development), who is in charge of business development of BNB chain at '2023 Xangle Blockchain Week',and heard about the future of BNB chain.

Q. The biggest advantage of the BNB chain was created by Binance, the world's largest exchange. Please briefly explain the characteristics and strengths of the BNB chain to investors.

The brand awareness of Binance, the world's largest exchange, can be an advantage and a disadvantage for the BNB chain. Exchange businesses and blockchain businesses would be divided into 'centralization' and 'decentralization' as its business characteristics.

Therefore, the BNB chain is carrying out a completely different business from Binance. There is definitely a collaboration between Binance and BNB chains. However, the BNB chain features 'decentralization'. Therefore, the business is expanding based on the unique technology of the BNB chain.

It is also true that Binance's brand awareness has become a great strength in the BNB chain, securing many users in the early days. For example, the number of daily active users (DAU - Daily Active Users) of the BNB chain is about 1 million. It has the largest market share with an overwhelming figure. It is three times the number of Ethereum networks.

However, it is impossible to maintain a steady rise in the huge project without sufficient technology to accommodate all its users and continue the network. In short, the BNB chain operates the world's largest mainnet, but has never had a server down.

Many years after blockchain appeared in the world, most layer 1 blockchains are fast, inexpensive, and even scalable as they make progress. In other words, blockchain technology has been upgraded.

There is also a technology that the BNB chain only has. But what is more important is the stability of operating the world's largest mainnet. In other words, I think the fact that the BNB chain has the world's largest mainnet and operates it stably implies everything.

We think the vast ecosystem supports of the BNB chain could provide is a great strength over other blockchains. For project developers, the supports that the projects developers can be received is important. The competition between the layer 1 blockchains is the competition of the number of on-boarding projects with excellent developers to the chain. In this regard, it is highly likely that various blockchain projects will achieve explosive growth when supported by the BNB chain ecosystem.

If you actually board the BNB chain, you can be supported various ecosystems such as Binance Pay, Binance Connect, and Binance Trust Wallet. In addition, users of the BNB chains can create projects in a much better environment than other chains as the BNB chain are evenly equipped for projects.
Q. Last year, the BNB chian suffered $100 million worth of damage from a hacking of the BNB chain Token Hub. it is curious about the follow-up measures. Also, Please hear about BNB chain's security enhancement plan regarding hacking issue.

In that tiem, immediate response was taken to the damage. Security is also a priority in network operation. At the time of the hacking damage, it responded immediately within 15 hours and took various measures to restore trust. Due to these efforts, coin prices were defended and users were rarely left.

Even before hacking incidents, network security is always at the top of the list. Currently, the 'Avenger DAO (Decentralized Self-Governing Organization)' is active to evaluate the risk of projects in the BNB chain ecosystem. Through this, we are monitoring at the backend and trying to protect users' assets from fraudulent programs. It has also established a 'security vault' system that allows users to check project risk ratings by searching for projects in the BNB chain ecosystem.

Q. Along with Binance, various news for BNB chain's entry into Korea is heard. Please explain the plans and aspirations of the BNB chain for entering Korean market.

The BNB chain has a major vision of building a Web 3.0 ecosystem around the world. Korea is a country that has produced many outstanding developers in the web market. As a country that plays a major role in building the Web 3.0 ecosystem, Korea is an important country.

As a result of conducting a market survey after considering the entry of the BNB chain into Korea, the accessibility and band awareness of the BNB chain were significantly insufficient than the others. Therefore, we are trying to raise brand awareness of the BNB chain and provide opportunities to access the BNB chain to excellent Korean developers.

One of the representative examples is the 'BNB Chain Developer Education Program' with 'Likelian' and the 'BNB Seoul Hackathon' hosted by ourselves. In addition, various local events were held. In the future, BNB chain plans to hold various events where many people can experience the BNB chain. We want to help Korean developers achieve what they want after fully experiencing the BNB chain.

A Korean developer manual translation system has already been created for developers whose native language is Korean. Currently, 24-hour response and counseling are available in Korean through the Discord channel. The average response time is within seven minutes.

We hope that the good ideas of Korea's great developers and the technology of the BNB chain would be combined to create a great Web 3.0 projects and shock the world.

As it has the largest mainnet and maintains it stably, it is recommended that Korean Web 3.0 developers realize their ideas on the largest stage. The BNB chain provides detailed consultations so that developers can realize their imagined projects in the BNB chain.

The BNB chain has sufficient capabilities and facilities for developers to solve what they need. We hope that Korean developers will enjoy the era of Web 3.0 based on the BNB chain with the world's largest ecosystem as a blockchain network.

권승원 기자 ksw@