Binance, Exchanges

Does Binance Run on Binance Smart Chain?

Binance Smart Chain is a blockchain that is optimized for high performance and fast transactions. Binance Smart Chain is compatible with Ethereum’s smart contracts and can run decentralized applications (dapps).

Binance Smart Chain also has its own native token, BNB.

NOTE: Warning: Binance does not run on the Binance Smart Chain and should not be confused with the Binance Chain. The Binance Smart Chain is an independent blockchain, and not affiliated with the Binance Exchange. If you wish to use the Binance Exchange, you must use the Binance Chain.

BNB is used to pay for transaction fees on the Binance Smart Chain. When you send a transaction, you must include a small amount of BNB to cover the transaction fee.

The transaction fee goes to the miners who validate the transaction and add it to the blockchain.

The Binance Smart Chain is a high performance blockchain that is compatible with Ethereum’s smart contracts. The Binance Smart Chain also has its own native token, BNB, which can be used to pay for transaction fees.

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