BSC's dual-chain architecture will empower its users to build their decentralized apps and digital assets on one blockchain and take advantage of the fast trading to exchange on the other.
BSC is built to be Ethereum Virtual Machine (EVM) compatible in order to provide developers with the ability to seamlessly deploy DApps built for Ethereum on Binance’s new blockchain.
BSC supports cross-chain transfers and allows for the creation of “pegged coins” (tokens pegged to the BSC chain), including BTC, ETH, TRX, and more. Pegged coins operate as BEP-20 tokens on Binance Smart Chain, similar to Ethereum’s ERC-20 tokens.
BSC’s BEP20 token standard enables developers to easily create and issue tokens that can represent a wide range of different asset types.
With a ~5 second block time and a Proof-of-Authority (PoA) consensus mechanism, BSC enables high-speed transactions that costs network participants less financial outlay.
Decentralized applications built on Binance Smart Chain have already experienced substantial adoption and growth with DeFi apps leading the foray.
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