BSC chain
Overview
BNB Smart Chain (BSC), first introduced as Binance Smart Chain on 1 September 2020, functions as the smart contract component of the BNB Chain ecosystem. Its EVM compatibility allows Ethereum-based contracts and development tools to be deployed with only minor modifications. The network employs a Proof-of-Staked-Authority consensus mechanism, relying on a restricted set of validators to achieve block times of approximately three seconds and low transaction costs. BNB serves as the native asset, covering gas fees and enabling staking. Within the wider BNB Chain framework, BSC operates alongside opBNB and BNB Greenfield.
Within The Counterparty graph, BSC connects to 76 tracked entities, most strongly to USD Coin, Tether USD, Dai.
Relations
Top connections in The Counterparty knowledge graph (confidence-weighted, 10 of 76 total).
| Relation | Connected entity | Confidence |
|---|---|---|
deployed_on | USD Coin | 95% |
deployed_on | Tether USD | 95% |
deployed_on | Dai | 95% |
deployed_on | Ethena USDe | 95% |
deployed_on | Binance USD | 95% |
deployed_on | Binance Peg BUSD | 95% |
deployed_on | Frax | 95% |
deployed_on | Frax USD | 95% |
deployed_on | Agora Dollar | 95% |
deployed_on | Odos | 95% |
Sources
Facts in this record were checked against the following. Where a claim is not covered here, the record states only what the graph holds.
Questions on the record
Why is BSC cheap and fast?
The network employs a Proof-of-Staked-Authority consensus mechanism with a restricted set of validators. This configuration enables block production roughly every three seconds while keeping transaction costs very low.