BNB Chain is a decentralized blockchain network developed by Binance to support smart contracts, decentralized applications (DApps), and Web3 innovations. It consists of two main components: BNB Beacon Chain, which handles governance and staking, and BNB Smart Chain (BSC), which supports Ethereum-compatible smart contracts and high-speed transactions with low fees.
BNB Chain is known for its fast performance, scalability, and low-cost transactions, making it a popular choice for developers and users in the crypto space. It powers various projects, including DeFi (decentralized finance), gaming, NFTs, and the metaverse. The network is secured by a Proof-of-Staked-Authority (PoSA) consensus mechanism, which balances decentralization and efficiency.$BTC