Whitepaper V2.0
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Binance Smart Chain (BSC)
Binance Smart Chain (BSC) was developed as a means of utilizing solidity-based smart contracts with much greater speed and efficiency than other, competing chains. With decentralized exchanges on BSC offering lightning-fast swaps and extremely low fees, BSC has started to become one of the most widely used blockchains for Decentralized Finance (Defi). BSC uses a token protocol developed by the BinanceTeam called BEP-20.
Advantages of the Binance smart chain are: It’s a proprietary blockchain, which will provide security and safety to all users and developers. Its native dual chain interoperability will allow cross-chain communication and scaling of high-performance dApps that require a fast and smooth user experience. It’s EVM-compatible and will support all of the existing Ethereum toolings along with faster and cheaper transactions. Its on-chain governance with Proof of Staked Authority consensus, built on 21 validators who validate the transactions, will provide decentralization and enable significant community involvement.