#BSCOnTheRise
What is Binance Smart Chain (BSC)?
Binance Smart Chain (BSC) is a layer-1 blockchain built to support smart contracts, and works alongside Binance Chain, which is designed to support high transaction volumes.
BSC is built on Geth, an Ethereum execution client that handles transactions, deploys and executes smart contracts, and contains the EVM.
BSC Evolution to BNB Chain
The Binance blockchain, created by one of the world’s largest and most prominent cryptocurrency exchanges, has evolved since its launch in 2017. With the rise of decentralized finance (DeFi) applications powered by smart contracts in 2020, Binance launched a parallel Binance Smart Chain to work alongside Binance Chain and compete with the Ethereum blockchain.
BSC gained significant popularity among developers and users in early 2021 as network congestion and high gas fees on the Ethereum blockchain increased transaction costs while slowing down processing times.
