#BinanceSquare

Great! Binance Smart Chain (BSC) is a blockchain network developed by Binance to run smart contract–based applications. It's designed to be fast, low-cost, and compatible with Ethereum. Here's a quick breakdown of its core features and functions:

Key Features of Binance Smart Chain (BSC):

EVM-Compatible

Fully compatible with Ethereum Virtual Machine (EVM), so Ethereum-based dApps and tools (like MetaMask) work on BSC with little to no changes.

Dual Chain Architecture

BSC works in parallel with Binance Chain (now BNB Beacon Chain). Binance Chain is optimized for fast trading; BSC is optimized for smart contracts.

Consensus Mechanism

Uses Proof of Staked Authority (PoSA), a combination of Proof of Stake and Proof of Authority, for faster block times and lower fees.

Native Token

The native token of BSC is BNB (Build and Build). It’s used for gas fees, staking, and governance.

Smart Contract Support

You can write and deploy smart contracts using Solidity (same as Ethereum).

Interoperability

BSC supports bridges to move assets between chains (e.g., Binance Bridge lets you transfer tokens between Ethereum, BSC, and other networks).

DeFi Ecosystem

Hosts many decentralized apps and DeFi protocols like PancakeSwap, Venus, and BakerySwap.