Binance Smart Chain (BSC) is a blockchain platform created by the Binance cryptocurrency exchange. It operates in parallel with Binance Chain, allowing developers to build decentralized applications (dApps) and issue new tokens. BSC is known for its fast transaction speeds and low fees, making it an attractive option for users and developers.

It utilizes a Proof of Staked Authority (PoSA) consensus mechanism, which combines aspects of both Proof of Stake and Proof of Authority. This helps maintain efficiency and security on the network. One of the key features of BSC is its compatibility with Ethereum’s Virtual Machine (EVM).

This allows developers to easily port their applications from Ethereum to BSC, facilitating a broader ecosystem. The platform has gained popularity for projects like yield farming, decentralized finance (DeFi), and non-fungible tokens (NFTs).

Overall, BSC has emerged as a significant player in the blockchain space, offering scalability and flexibility for various decentralized applications. Its growth has contributed to the overall expansion of the ecosystem surrounding decentralized technologies.