BSC - Binance Smart Chain appeared in 2017 when Binance coin (BNB) was launched using ERC-20 token on the Ethereum blockchain. In 2019 the developers of BNB created a blockchain called Binance Chain (BC).

Binance Chain is designed to provide lightning-fast transaction speeds using a distributed consensus model that optimizes the exchange of fast yet secure digital assets. BNB has been moved from the Ethereum network to become the native cryptocurrency on Binance Chain.

After only a short time, Binance Chain has quickly become one of the largest digital asset exchanges. Still, its model lacks the function to execute smart contracts, so Binance Smart Chain was born. as a blockchain that supports parallelism with smart contracts.

BSC is a Blockchain improved from the original Binance Chain version. This enhanced version ensures chain security, stability, and finality. BSC does not replace the old platform but runs parallel to Binance Chain.

  • The ability to process many transactions with low latency, allowing users to manage and mine their crypto assets cost-effectively, is suitable for most participants.
  • EVM-compatible programming and cross-chain capabilities improve programmer productivity.
  • The cross-chain mechanism helps to promote interoperability DeFi supports multi-project initiation.
  • BSC is an independent Blockchain with high security for both users and developers.
  • Thanks to the interoperability between BSC's two Blockchains, users can communicate cross-chain and scale up Dapps with high performance, providing a smoother, quality experience for users.
  • On-chain governance through the PoS consensus mechanism combined with 21 validators brings decentralization to increase the participation of the user community.
  • BSC ecosystem with millions of users access.

Ecosystem of BSC

An ecosystem of Binance Smart Chain can be mentioned as follows:

  • Binance Exchange, a decentralized cryptocurrency exchange, has the largest trading volume in the world.
  • Binance Saving, Binance Dex Swap, and Binance Stake for Rewards
  • Binance Labs (Binance Investment Fund)
  • Token Launchpad is a launch platform that supports Trust Wallet token issuance and microstorage projects.

BSC meets well with the team of developers to build applications with smart contract features, especially dApps, to focus on tradable digital assets. BSC allows participants to issue digital tokens and trade on both chains.

For the above reasons, many Blockchain application projects use the BSC network to develop their applications.

Typical projects running on BSC

  • PARSIQ (cross-chain monitoring)
  • BSCscan (Blockchain explorer)
  • Tenderly (smart contract supervisor)
  • Bitquery (blockchain data)
  • Mywish (Token issued on BNB's Blockchain platform)
  • ChainIDE (smart contract implementation)
  • Nownodes (blockchain infrastructure)