BNB Smart Chain

Formerly referred to as Binance Smart Chain (BSC), BNB Smart Chain is a blockchain network built by Binance. It operates alongside BNB Beacon Chain (formerly Binance Chain) and utilizes the Proof of Staked Authority (PoSA) consensus mechanism. BNB Smart Chain is designed to facilitate the transfer and exchange of assets using the BEP-20 tokenization standard, in contrast to the BEP-2 standard employed by BNB Beacon Chain. It is interoperable with other major blockchain networks and is recognized for its speed and security.