Exchange Binance Coin (BNB)

Binance Smart Chain (BSC) is a blockchain developed by Binance, one of the world's largest cryptocurrency exchanges. It is a parallel blockchain to the Binance Chain, but with additional features that make it compatible with Ethereum Virtual Machine (EVM), which means that Ethereum developers can easily port their dApps to the BSC network. This has led to a growing number of Ethereum-based projects expanding to the BSC network due to its faster transactions and cheaper fees.

BSC aims to provide a high-performance blockchain that enables fast and low-cost transactions, making it suitable for decentralized finance (DeFi) applications and other use cases. BSC uses a Proof-of-Staked Authority (PoSA) consensus mechanism, which is a hybrid of Proof-of-Stake (PoS) and Proof-of-Authority (PoA) consensus mechanisms. This allows the network to achieve higher throughput and faster block times while still maintaining a high level of security.

One of the key features of BSC is its ability to support smart contracts, which are self-executing computer programs that allow developers to create decentralized applications (dApps) and other blockchain-based services. BSC also supports the BEP-20 token standard, which is similar to Ethereum's ERC-20 token standard and enables developers to create their own custom tokens on the BSC network. 

Binance Smart Chain also features a cross-chain bridge that allows for the transfer of assets between the BSC and Ethereum networks. This enables users to leverage the benefits of both networks and move their assets freely between them.

Binance Smart Chain (BSC) was founded by Changpeng Zhao (also known as CZ) and the team at Binance, one of the world's largest cryptocurrency exchanges. CZ is a well-known figure in the blockchain industry, having previously worked as the CTO of OKCoin and co-founding the cryptocurrency wallet provider, BijieTech.

Binance Smart Chain was launched in September 2020 as a parallel blockchain to the Binance Chain, which was launched in 2019. The goal of BSC was to provide a more scalable and developer-friendly blockchain that could support the growing ecosystem of decentralized finance (DeFi) applications and other use cases. Since its launch, BSC has become one of the most popular blockchains for DeFi, with a growing number of projects building on the network and a large user base.

The Binance Smart Chain is closely tied to Binance's native cryptocurrency, Binance Coin (BNB), which is an essential part of the Binance ecosystem. BNB is used as a utility token within the Binance platform, allowing users to access various services, such as reduced trading fees, token sales, and other premium features.

In addition to its utility within the Binance platform, BNB crypto has also become an important part of the Binance Smart Chain ecosystem. For example, BNB is used as gas fees to pay for transactions and smart contract executions on the BSC network. BNB can also be used to participate in decentralized finance (DeFi) protocols on the BSC network, such as liquidity pools, yield farming, and other yield-generating strategies.

Moreover, Binance has been actively supporting the development of the BSC ecosystem by launching various initiatives, such as the Binance Launchpad, where new DeFi projects are launched, and the Binance Smart Chain Accelerator Fund, which provides funding and support to promising projects building on the BSC network. 

The Binance Launchpad is a platform for launching new blockchain projects and tokens. Many of the projects launched on the Launchpad are built on the Binance Smart Chain, which has helped to increase the network's popularity and adoption.

As of April 17, 2023, the total supply of Binance Coin (BNB) was 155,865,639 tokens. And the circulating supply was approximately 154,532,825 tokens.

Average Fees on the Binance Smart Chain Network 

The average fees on the Binance Smart Chain (BSC) network were generally lower than those on the Ethereum network. The average transaction fee on the BSC network at the time was around 5-10 Gwei, which is equivalent to a few cents in US dollars. In contrast, the average transaction fee on the Ethereum network at the time was much higher, ranging from 50-200 Gwei or more, depending on network congestion.

BNB Coin Wallets 

Binance Coin (BNB) is an ERC-20 token that runs on the Binance Smart Chain network, so it can be stored in any wallet that supports the ERC-20 standard, including Binance Chain Wallet, the official wallet of Binance, Trust Wallet, MetaMask, Ledger Nano S/X, Trezor, Atomic Wallet, Exodus Wallet, MyEthereWallet, Math Wallet, Coinomi.