Cryptocurrency Q&A
What is BNB smart chain?
What is BNB smart chain?
Fri Jan 10 2025
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5 answers
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BNB Smart Chain, launched in 2020, is a blockchain parallel to Binance Chain. It supports smart contracts, is EVM-compatible, and aims to maintain the high throughput of Binance Chain while introducing smart contracts to its ecosystem. BNB Smart Chain relies on a system of 55 validators with a Proof of Staked Authority consensus, enabling fast block times and lower fees.
5 answers
Sun Jan 12 2025
In addition to smart contracts, BSC also supports decentralized applications (DApps), which are applications that run on a blockchain network and utilize smart contracts to execute their functions.
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Sun Jan 12 2025
BSC operates alongside the BNB Chain, which was previously known as Binance Chain.
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Sun Jan 12 2025
BNB Smart Chain (BSC), previously known as Binance Smart Chain, is a blockchain network launched by the cryptocurrency exchange Binance.
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Sun Jan 12 2025
The BNB Chain is a blockchain network that focuses on high-speed and low-cost transactions, while BSC provides a platform for developers to build and deploy smart contracts and DApps.
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Sun Jan 12 2025
This network is designed to support smart contracts, which are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code.
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