BNB Smart Chain (BSC) is a blockchain network launched in 2020 as a parallel chain to BNB Beacon Chain, offering Web3 tools and decentralized applications (DApps) ¹ ² ³:

Key features of BNB Smart Chain include:

- Compatibility with the Ethereum Virtual Machine (EVM)

- Smart contract functionality

- Decentralized finance (DeFi) services

- Multi-chain support

- Web3 applications

- High-performance blockchain

- BEP-20 token standard

- Proof of Staked Authority (PoSA) consensus algorithm

The BNB Chain team plans to retire the BNB Beacon Chain and merge its core functionalities with the BNB Smart Chain network ¹.$BNB