Binance Smart Chain | Top 3 BNB Chain Projects | BNB Chain Projects

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Welcome to our Binance Smart Chain Video!

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 decentralized applications (DApps) and help users manage their digital assets cross-chain with low latency and large capacity.

What Is Binance Chain (BC)?
Binance Chain (BC) is a blockchain developed by Binance, that aims to provide a decentralized exchange (DEX) for crypto assets. BC relies on the Tendermint Byzantine Fault Tolerance (BFT) consensus and delegated proof-of-stake (DPoS). It is built on forks of Tendermint and Cosmos SDK.

What Is Binance Coin (BNB)?
Binance Coin (BNB) is the native token of the BC, and was launched in July 2017, initially as an ERC-20 token. Transactions on BC burns BNB tokens, according to a fee schedule roughly every three months. From the initial maximum supply of 200 million, burns will continue until supply reaches 100 million. BNB is a BEP-2 token, the native token stand of the BC.

What Is Binance Smart Chain (BSC)?
Here are some of the attributes of BSC:

Independent Blockchain
While it runs in parallel with BC,Binance Smart Chain is a standalone blockchain. This means that even if BC stops operating, BSC will continue to run its technical and business functions.

Ethereum-Compatible
Smart contracts, which are Ethereum-compatible, are supported by BSC. Through this feature, developers can build or migrate DApps, tools and other ecosystem components on the BSC network without much friction.

Supports Staking and Community-Based Governance
The platform runs on a proof-of-stake (PoS) consensus model, specifically, proof-of-staked-authority. BSC’s native token, the Binance Coin (BNB), can be staked to contribute to network security and vote on community governance protocols. Its PoS model also enables it to process transactions faster, putting it above networks that still implement full proof-of-work (PoW) systems.

Native Interoperability:
BC and BSC can freely communicate with each other without friction, despite BSC not being a layer 2 solution (as it is an independent blockchain, parallel to Binance Chain). This makes it seamless for users to move their cryptocurrencies between BC and BSC.

I hope you found value in our Binance Smart Chain video. Make sure to leave a like on the video if you gained value from it!

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The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.

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⏰TimeStamps⏰

0:00 Intro
0:32 Top 3 BNB Chain Projects
6:21 Summary

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