#BNBChain
BNB Chain is a blockchain ecosystem developed by Binance, one of the world’s largest cryptocurrency exchanges. It consists of two main components:
---
🔹 1. BNB Beacon Chain (formerly Binance Chain):
Purpose: Focuses on governance and staking.
Main Features:
Fast transactions
Binance DEX (Decentralized Exchange)
Governance via BNB token (used for voting)
---
🔸 2. BNB Smart Chain (BSC):
Purpose: Enables smart contracts and decentralized applications (dApps)
Compatible with: Ethereum Virtual Machine (EVM)
Popular for:
Low fees
High-speed transactions
Hosting DeFi, NFTs, and GameFi apps
---
💡 BNB Token (formerly Binance Coin):
Utility:
Gas fees on BNB Smart Chain
Staking
Participation in governance
Trading on Binance
Token sales on Binance Launchpad
---
🔐 Security & Decentralization:
Uses Proof-of-Staked Authority (PoSA) consensus mechanism
Around 21 validators secure the network
---
🚀 Ecosystem Includes:
PancakeSwap – Leading DEX
Venus Protocol – Lending/borrowing
MVB Program – Incubates top blockchain projects
BNB Greenfield – A decentralized storage layer launched in 2023
