1/ There is a lot of buzz around smart chain. The most well-known is obviously the #ethereum one, but there are other chains that are attracting interest from devs and investors. One of these is the Binance smart chain $BSC: a thread 👇
2/ First important thing: Binance smart chain is something that is technically independent of the Binance chain, which is the chain used by the DEX binance.org and on which the coin $BNB runs on. This is to avoid that smart contracts might congest the network of $BNB
3/ $BSC is Ethereum Virtual Machine (EVM) compatible. EVM is a state machine able to convert transactions into code operations that can be executed by the smart contracts themselves. This means $BSC is compatible with all the dApp of Ethereum, including for example #Metamask
4/ Similarly to other smart chains, $BSC validates through a proof of stake mechanism (Proof of Staked Authority, PoSA) in which nodes stakes $BNB to become a validator. Block time is around 3 seconds. But wait, shouldn’t $BSC be independent of $BNB chain?
5/ The two chains are built with a Dual-chain architecture: assets can be transferred between the two chains with little to no effort, and this applies to BEP-2 (the equivalent of ERC-20 protocol in Ethereum) and BEP-8 tokens to BEP-20 ones.
6/This means that the ecosystem of #BSC has been growing relatively fast, with applications like #pancakeswap (with the $CAKE token) creating a DEX solution on the Binance chain similar to the more famous DEX like #sushiswap and #uniswap
7/ Some praise the fact that Binance smart chain fees and movements are cheaper and faster compared to what currently happens on the Ethereum blockchain. But others say that this issue will be solved in the future and that the current development on the ETH chain is what matters.

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