Binance Smart Chain (BSC) is a high-performance blockchain designed for fast, low-cost transactions, supporting smart contracts and decentralized applications (DApps). It runs parallel to Binance Chain but features EVM compatibility, enabling seamless migration of Ethereum-based projects. #binancesquareofficial

BSC’s Proof-of-Staked-Authority (PoSA) consensus ensures fast block times (3s) and low fees ($0.10), making it a top choice for DeFi, NFTs, and gaming. However, its centralization (21 validators controlled by Binance) raises concerns over security and censorship resistance.

With BEP-20 token standard, BSC powers a vast DeFi ecosystem, including PancakeSwap, Venus, and ApeSwap. Despite challenges from Ethereum’s Layer-2 solutions, BSC remains dominant due to scalability, liquidity, and strong Binance backing. Future upgrades aim to improve decentralization and cross-chain compatibility.