Binance smart chain is a decentralized platform that provides for the development, execution, and security of smart contracts and decentralized applications (DApps). The Binance smart chain is built on top of the Binance Chain blockchain and utilizes the native Binance Coin (BNB) as its fuel.
The Binance smart chain was created with the goal of providing a more user-friendly platform for developers to build DApps. In comparison to other smart contract platforms, the Binance smart chain is said to offer faster transaction speeds and lower fees.
The Binance smart chain is also compatible with Ethereum Virtual Machine (EVM), making it easier for developers to port over existing Ethereum-based DApps.
So far, the Binance smart chain has been successful in attracting some high-profile projects. One such project is Decentraland, which is building a virtual world on top of the Binance smart chain.
The team behind Decentraland believes that the Binance smart chain’s high transaction speeds and low fees will be crucial in delivering a smooth user experience for their virtual world.
The Binance smart chain is still in its early stages of development but shows promise as a platform for DApp development. With its compatibility with EVM and growing list of high-profile projects, the Binance smart chain has the potential to become a major player in the world of decentralized applications.