Binance Smart Chain
Binance Smart Chain is a new platform that aims to lower transaction costs and provide a space to create DApps and other DeFi products — how does it work?
Binance Smart Chain (BSC) is a blockchain network built for running smart contract-based applications. BSC runs in parallel with Binance’s native Binance Chain (BC), which allows users to get the best of both worlds: the high transaction capacity of BC and the smart contract functionality of BSC.
Furthermore, Binance Smart Chain also implements the Ethereum Virtual Machine (EVM), which allows it to run Ethereum-based applications like MetaMask.
The aim of the platform is to enable developers to build decentralised applications (DApps) and help users manage their digital assets cross-chain with low latency and large capacity.
By : Werner Vermaak | Published on: March 5, 2021
Here are some of the attributes of BSC:
- Independent Blockchain
- Ethereum-Compatible
- Supports Staking and Community-Based Governance
- Native Interoperability
- Proof-of-Staked-Authority
- Validator Quorum
Binance Smart Chain Concluding Thoughts
The Binance Smart Chain is a speedy and low-cost DApp platform for crypto users to enjoy. It’s no surprise that the number of daily unique active wallets has surged to 50,000 as of Feb. 9, 2021 and that its total transaction volume had reached $15 billion in January 2021.
By : Werner Vermaak | Published on: March 5, 2021
Full article : https://coinmarketcap.com/alexandria/article/what-is-binance-smart-chain
