What is Binance Smart Chain?
Binance Smart Chain (BSC) is an innovative solution to bring programmability and interoperability to Binance Chain (BC).
Binance Smart Chain relies on a system of 21 validators with Proof of Staked Authority (PoSA) consensus that can support short block time and lower fees. The most bonded validator candidates of staking will become validators and produce blocks. The double-sign detection and other slashing logic guarantee security, stability, and chain finality.
BSC is an Independent Ethereum-Compatible Blockchain
While it runs in parallel with Binance Chain, Binance Smart Chain is a standalone blockchain. This means that even if Binance Chain stops operating, Binance Smart Chain will continue to run its technical and business functions.
Smart contracts, which are Ethereum-compatible, are supported by Binance Smart Chain. Through this feature, developers can build or migrate DApps, tools and other ecosystem components on the BSC network without much friction.