Binance Smart Chain (BSC)

Binance Smart Chain (BSC) was developed as a means of utilizing solidity-based smart contracts with much greater speed and efficiency than other, competing chains. With decentralized exchanges on BSC offering lightning-fast swaps and extremely low fees, BSC has started to become one of the most widely used blockchains for Decentralized Finance (Defi). BSC uses a token protocol developed by the Binance Team called BEP-20.

The advantages of the Binance smart chain are:

  • It’s a proprietary blockchain, which will provide security and safety to all users and developers

  • Its native dual-chain interoperability will allow cross-chain communication and scaling of high-performance dApps that require a fast and smooth user experience.

  • It’s EVM-compatible and will support all of the existing Ethereum toolings along with faster and cheaper transactions.

  • Its on-chain governance with Proof ofStaked Authority consensus, built on 21 validators who validate the transactions, will provide decentralization and enable significant community involvement.

Last updated