Binance Smart Chain News – BNB Chain

What is Binance Smart Chain?

Binance has launched its own blockchain software, Binance Smart Chain. BSC enables developers to run decentralized applications (DApps) on its blockchain. BSC is based on the Go Ethereum (Geth) client.

Why is it worth using Binance Smart Chain?

At its core, BSC is a platform for developers to create decentralized applications (DApps). With BSC users are able to access cheaper and faster transactions, as well as fully customizable smart contract functionality.

While similarly utilizing smart contracts, transactions on BSC are faster and cheaper than those on the Ethereum blockchain. And saving money on transactions is probably the best reason to switch over.

Is Binance Smart Chain BEP20?

Binance today released BEP-20, a new token standard that extends the ERC-20 token standard from Ethereum. BEP-20 extends Ethereum’s smart contract functionality by adding support for advanced token capabilities, such as chain freezing, delegated management, and governance.

What is the difference between Binance Chain and Binance Smart Chain?

BC and BSC are two different blockchains. 

Binance Chain(BC) is a blockchain developed by Binance, which features the ability to create a marketplace for decentralized exchanges.

Binance Smart Chain is an independent blockchain that runs in parallel with the Binance Chain. BSC is compatible with EVM and has native cross-chain communication with Binance Chain. It’s providing a heterogeneous development environment for smart contracts, dApps and third-party blockchains.

But what is BNB Chain then?

BNB Chain is a relatively new blockchain created for developing high-performance decentralized applications, gaming, and NFTs.

Does MetaMask support Binance Smart Chain?

MetaMask is compatible with most decentralized applications (dapps) and trading platforms. It is extremely versatile and compatible with blockchain networks like Binance Smart Chain (BSC Chain).