BNB Coin | Binance Smart Chain | BNB Chain

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Welcome to Our BNB Coin Video!

Binance Smart Chain is a new platform that aims to lower transaction costs and provide a space to create DApps and other DeFi products — how does it work?

Binance Smart Chain (BSC) is a blockchain network built for running smart contract-based applications. BSC runs in parallel with Binance’s native Binance Chain (BC), which allows users to get the best of both worlds: the high transaction capacity of BC and the smart contract functionality of BSC.

Furthermore, Binance Smart Chain also implements the Ethereum Virtual Machine (EVM), which allows it to run Ethereum-based applications like MetaMask.
The aim of the platform is to enable developers to build decentralized applications (DApps) and help users manage their digital assets cross-chain with low latency and large capacity.
Binance Smart Chain has made immense traction in early 2021 so far partly thanks to Ethereum’s congestion and gas fee issues, which has caused developers and staking investors to look for other options.

What Is Binance Chain (BC)?
Binance Chain (BC) is a blockchain developed by Binance, that aims to provide a decentralized exchange (DEX) for crypto assets. BC relies on the Tendermint Byzantine Fault Tolerance (BFT) consensus and delegated proof-of-stake (DPoS). It is built on forks of Tendermint and Cosmos SDK.

What Is Binance Coin (BNB)?
Binance Coin (BNB) is the native token of the BC, and was launched in July 2017, initially as an ERC-20 token. Transactions on BC burns BNB tokens, according to a fee schedule roughly every three months. From the initial maximum supply of 200 million, burns will continue until supply reaches 100 million. BNB is a BEP-2 token, the native token stand of the BC.

As the native token, BNB serves as the gas fees for transactions on BC, issuance costs for new assets, minting and burning costs and more. BNB also powers the BSC, and is used for delegated staking on the authority validator. For Binance.com users, BNB can also be used to pay for trading fees on the exchange.

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The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses a considerable risk of loss. The speaker does not guarantee any particular outcome.

I hope you found value in our Where to BNB Coin video. Make sure to leave a like on the video if you gained value from it!

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⏰Timestamps⏰

0:00 Introduction
0:27 Binance Smart Chain
12:38 Outro

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