BNB Chain

Binance Chain and Binance Smart Chain are two separate blockchain networks created by Binance, one of the world's largest cryptocurrency exchanges.

Binance Chain

Binance Chain is a high-performance blockchain created for the Binance exchange. It uses a proof-of-stake consensus algorithm, where validators stake BNB to participate in block production and earn rewards. Binance Chain was designed to be fast, with a one-second block time and a capacity of up to 100 transactions per second. It also has low fees, with a fixed fee of 0.000375 BNB per transaction.

Binance Smart Chain

Binance Smart Chain is a smart contract-enabled blockchain that is compatible with the Ethereum Virtual Machine (EVM). It was designed to support decentralized applications (dApps) and decentralized finance (DeFi) protocols, while also maintaining the high transaction speeds and low fees of Binance Chain. Binance Smart Chain uses a consensus mechanism called Proof of Staked Authority (PoSA), where validators are chosen based on the amount of BNB they hold and stake on the network. Binance Smart Chain has a block time of three seconds and can handle up to 100 transactions per second. Its fees are also very low, with an average transaction cost of only a few cents.

BNB

BNB is the native cryptocurrency of both Binance Chain and Binance Smart Chain. It can be used to pay for transaction fees, staking rewards, and governance on both chains.