What is BNB Smart Chain?

ABOUT THE BLOCKCHAIN

BNB Smart Chain Summary

Launch Year

2020

Type

Public Blockchain

Native Cryptocurrency

BNB

Consensus

Proof of Staked Authority (PoSA)

BNB Smart Chain (BSC) attracts users and developers with its unique combination of high throughput, low transaction fees, and compatibility with the Ethereum Virtual Machine (EVM). This compatibility allows for seamless porting of Ethereum-based projects and tools, making it a popular choice for building dApps. While sacrificing some decentralization compared to pure public blockchains, BSC prioritizes scalability and usability, making it a pragmatic option within the Web3 landscape.

STAKING

BNB Smart Chain staking mechanism and details

BSC employs a Proof-of-Staked Authority (PoSA) consensus mechanism where a set of elected validators secure the network. To participate in staking, you can either become a validator (requiring technical expertise and a significant BNB stake) or delegate your BNB to a chosen validator and earn a portion of the rewards. Staking helps maintain network security and stability.

Details about BNB Smart Chain staking

Delegated Proof of Stake
Participate in network security and earn rewards through staking BNB in the DPoS system.
Validator Nodes
Become a validator by meeting requirements and staking BNB, contributing to transaction processing.

NATIVE CRYPTOCURRENCY

Blockchain's native cryptocurrency: BNB

Coin Utility

Used to pay transaction fees on BSC, participate in staking, and play a role in governance for certain aspects of the chain.

Supply

BNB has a regular burn schedule aimed at reducing the circulating supply over time.

Beyond BSC

BNB is also the native cryptocurrency of the Binance exchange, offering utility and benefits within the Binance ecosystem.

SMART CONTRACTS

BNB Smart Chain Smart Contracts

BNB Smart Chain’s EVM compatibility is a significant draw, allowing developers to easily deploy Ethereum-based smart contracts and utilize existing tooling. This opens up a wide range of possibilities for decentralized applications (dApps), including DeFi protocols, NFT marketplaces, and games within the BSC ecosystem.

Details about BNB Smart Chain smart contracts

Ethereum Compatibility
Seamlessly migrate dApps and smart contracts from Ethereum due to EVM compatibility.
Cross-Chain Functionality
Leverage interoperability with BNB Beacon Chain for innovative cross-chain applications.

WALLETS

BNB Smart Chain Wallet Options

BUY CRYPTO

How to Buy BNB: Your Guide to Top Exchanges

Ready to invest in BNB, the native cryptocurrency powering the BNB Smart Chain? Multiple centralized and decentralized exchanges offer ways to acquire BNB. Here’s a breakdown of some popular options to help you find the best place to buy BNB.

Best CEXs to Buy ALGO

Binance
Global cryptocurrency exchange leader known for its deep liquidity and variety of BNB trading pairs.
KuCoin
Global exchange featuring several trading pairs for BNB.
HTX (Huobi Global)
Leading exchange with diverse crypto offerings, including BNB.
Gate.io
Established exchange offering a selection of crypto assets, including BNB.
Crypto.com
Provides various crypto services, including BNB trading.

Best DEXs to Buy ALGO

PancakeSwap
The most popular decentralized exchange on the BNB Smart Chain, offers liquidity pools and token swaps.
Biswap
A rising DEX on the BNB Smart Chain with competitive trading fees and earning opportunities.
1inch
DEX aggregator that sources liquidity from multiple exchanges for potential price optimization.
ApeSwap
Popular DEX with a focus on yield farming and staking opportunities within the BNB Smart Chain ecosystem.

Important Note: Always research and consider factors such as fees, security, supported fiat currencies, and regional availability before choosing an exchange. It’s advisable to compare multiple options for the best buying experience.

TRACK ALL YOUR ASSETS

How to track BNB Smart Chain assets?

Monitor and capitalize all your BSC assets from multiple sources with auto-synced data about coin prices, NFT floor prices, advanced analytics and custom asset based opportunities.

7 easy steps to track and capitalize all your BSC assets

Open your crypto wallet app or web extension

Select your BNB Smart Chain public wallet address and copy it

Open the Hodlezz mobile app and create a portfolio

Select the settings icon in your portfolio

Select [Add connector] from the menu

Select [BNB Smart Chain] for any BSC compatible address

Choose a name for your connector and insert your public wallet address

Start tracking all your crypto assets now

Experience seamless management of your digital assets with Hodlezz: the premier app for real-time tracking and analytics of your cryptocurrencies and NFTs.