Build scalable decentralized applications on the Binance Smart Chain and leverage the Binance chain to complete frictionless transactions with the minimum transaction fee.
Binance smart chain is an innovative approach to accommodate decentralization and scalability in the Blockchain ecosystem. Binance smart chain is a dual-chain architecture. It is an independent Blockchain but runs together with the Binance chain. In essence, the Binance smart chain facilitates a decentralized environment that allows the creation of well-defined, secured, and optimized Dapps along with a robust smart contract structure. While Binance smart chain is also compatible with the Ethereum Virtual Machine which means that applications built on Ethereum Blockchain can be easily migrated to the Binance smart chain and vice versa. Considering the prominence of Ethereum Blockchain, this compatibility is a crucial reason why Binance smart chain can become a de facto standard of building decentralized applications.
Binance Smart Chain is built using the Ethereum Virtual Machine which makes it compatible with the Ethereum Blockchain. Any application developed on top of Binance Smart Chain will be able to run on the Ethereum Blockchain too, giving it exposure to a huge user base.
The Binance Smart Chian works together with the Binance chain. Any decentralized application developed on the Binance smart chain can work in the best possible environment while the transactions needed in that application can be completed in the Binance chain ecosystem, at a considerably lower transaction fee.
Contrary to the power-consuming proof of work consensus algorithm, Binance Smart Chain implements the proof of stake consensus which allows the validation of the transactions to be faster and easier.
Within the Binance Smart Chain ecosystem, there is a governance chain that allows the addition of trading pairs to be done by the BNB holders only. This makes Binance smart chain a truly decentralized ecosystem.
The best and most astonishing feature of the Binance Smart Chain is the Binance bridge. With this bridge, any major cryptocurrency can be converted into a wrapped token that can be used on the Binance Smart Chain.
Binance Smart Chain has a very short block time and it is interoperable with the Binance Chain for the payments. This makes it one of the high-performing Blockchain platforms.