Binance Smart Chain (BSC)
Also known as: BSC, BNB Chain, Binance Blockchain
A high-performance blockchain developed by Binance offering EVM compatibility and fast, low-cost transactions.
Binance Smart Chain (BSC) is a Layer 1 blockchain launched by Binance to support fast, scalable decentralized applications. It is EVM-compatible, allowing Ethereum-based dApps and tokens to run with minimal changes. BSC features low transaction costs, three-second block times, and a Proof of Staked Authority (PoSA) consensus mechanism. Despite criticisms of centralization due to its validator set, BSC has become a hub for DeFi, NFT, and GameFi projects. The native token, BNB, is used for gas fees and governance in the BNB Chain ecosystem.