#BSCTrendingCoins Binance Smart Chain (BSC) is a blockchain developed by Binance, running in parallel with Binance Chain (BC) and supporting smart contracts. BSC is compatible with the Ethereum Virtual Machine (EVM), making it easier for developers to migrate applications from Ethereum.
Advantages of BSC:
• Transaction fees are much lower than Ethereum.
• Fast speed, block creation in 3 seconds thanks to the Proof of Staked Authority (PoSA) mechanism.
• Supports DeFi, NFT, GameFi, and many other blockchain applications.
Main applications of BSC:
• Token transactions BEP-20 (similar to ERC-20 on Ethereum).
• Staking BNB to receive rewards.
• Trading on DEXs like PancakeSwap, BakerySwap…
• Developing and using decentralized financial applications (DeFi), NFTs, GameFi…
Some popular tokens on BSC:
• BNB (Binance Coin): Used to pay transaction fees.
• CAKE (PancakeSwap), BAKE (BakerySwap), XVS (Venus) are tokens of DeFi projects.
BSC is currently one of the most popular blockchains, directly competing with Ethereum.