{"id":4562,"date":"2022-03-11T13:38:04","date_gmt":"2022-03-11T06:38:04","guid":{"rendered":"https:\/\/test.wikibinance.com\/?p=229"},"modified":"2022-12-17T16:38:37","modified_gmt":"2022-12-17T09:38:37","slug":"bsc-binance-chain-bnb-chain","status":"publish","type":"post","link":"https:\/\/wikibinance.com\/en\/basic-binance\/bsc-binance-chain-bnb-chain.html","title":{"rendered":"Binance Smart Chain (BSC), Binance Chain and BNB Chain. What’s the difference?"},"content":{"rendered":"

As of February, 2022, Binance Chain and Binance Smart Chain (BSC) have become BNB Chain that\u00a0marks BSC’s association with BNB tokens and the BNB ecosystem.<\/span><\/p>\n

Are you new to Binance<\/a>? Isn’t it easy for you to approach and distinguish many concepts in this “new subject”. In this article, Wiki Binance<\/a> will help you to learn about the differences of Binance Chain, Binance Smart Chain and BNB chain<\/strong> in concise and understandable way.<\/span><\/p>\n

What is Binance Chain?<\/h2>\n

Binance<\/a> Chain<\/b> is <\/span>a blockchain technology that Binance launched in April 2019. Its focus is on facilitating fast, decentralized (or unsupervised) trading. <\/span><\/p>\n

You’ve probably heard of Binance Chain, the home of the BNB. To optimize for ultra-fast transactions, Binance Chain had to make certain trade-offs, and one of them was that the blockchain did not have the ability to program as flexibly as other blockchains.<\/span><\/p>\n

What is Binance Smart Chain?<\/h2>\n

Binance Smart Chain (BNB (BEP-20 format) launched in September 2020, is a parallel blockchain technology with Binance Chain. Binance Smart Chain provides alternative solutions with larger capacity, lower transaction fees and faster speed compared to Ethereum that caters to the decentralized financial market (DeFi). Better than Binance Chain, BSC is able achieves 3 second block times, transfers cross-chain crypto assets, uses Proof of Stake Authority consensus protocol, boasts smart contract functionality and compatibility with the Ethereum Virtual Machine (EVM) to ensure scalability.<\/span><\/p>\n

BNB Chain<\/h2>\n

BNB is the native utility token of the Binance ecosystem, which can be used for both BSC and BC. BNB is a currency unit to pay transaction fees on the BC and Binance DEX, deposit and transfer.<\/span><\/p>\n

\"BSC,
BNB is the native utility token of the Binance ecosystem<\/figcaption><\/figure>\n

Beside that, BNB has the ability to run smart contracts on BSC. For those who want to engage in network security or earn more BNB rewards, BNB can be staked on a smart contract. And if the users want, they can delegate their stake to the BSC authenticator of their choice and earn a commensurate reward.<\/span><\/p>\n

As the announcement of Binance, from February 16, 2022, Binance Chain and Binance Smart Chain (BSC) have become BNB Chain. Learning from other community-supported projects, BNB has been continuing its own development journey towards better innovation and decentralization, and BNB has gone beyond Binance.<\/span><\/p>\n

The difference between Binance Smart Chain (BSC) and Binance Chain (BC)<\/h2>\n

Launched by Binance, both Binance Smart Chain (BEP20) and Binance Chain (BEP2) work in parallel, independently. They share the same native token <\/span>Binance Coin (BNB).<\/b> Many people often confuse about these two blockchains even though they have some differences:<\/span><\/p>\n

– Binance Chain BNB (BEP-2): Launched by the leading cryptocurrency exchange\u00a0Binance in April 2019, the central goal of this blockchain is rapid transactions in decentralized market without intermediary. Binance DEX is the largest dApp on Binance Chain and one of the most user-friendly decentralized exchanges.<\/span><\/p>\n

– Binance Smart Chain (BEP-20): Known as a much more improved blockchain than Binance Chain, BSC operated independently. The difference of BSC is the ability to create smart contracts and be compatible with Ethereum Virtual Machine (EVM). BSC’s design goal is to keep high throughput intact during the transaction process on Binance Chain, while integrating smart contracts into Binance Chain’s ecosystem. Despite launching later than other blockchains, Binance Smart Chain attracts many developers as well as a huge number of users with outstanding advantages. Specifically, the k<\/span>ey characteristics of BSC are:<\/span><\/p>\n