#BNBChain
BNB Chain is a blockchain ecosystem developed by Binance, one of the worldโs largest cryptocurrency exchanges. It consists of two main components:
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๐น 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)
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๐ธ 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
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๐ก BNB Token (formerly Binance Coin):
Utility:
Gas fees on BNB Smart Chain
Staking
Participation in governance
Trading on Binance
Token sales on Binance Launchpad
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๐ Security & Decentralization:
Uses Proof-of-Staked Authority (PoSA) consensus mechanism
Around 21 validators secure the network
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๐ Ecosystem Includes:
PancakeSwap โ Leading DEX
Venus Protocol โ Lending/borrowing
MVB Program โ Incubates top blockchain projects
BNB Greenfield โ A decentralized storage layer launched in 2023
$BNB
