Binance Smart Chain (BSC) is a blockchain platform developed by Binance, designed to facilitate smart contracts and decentralized applications (dApps). Launched in September 2020, BSC operates parallel to Binance Chain, which primarily focuses on fast and low-cost transactions for trading.One of BSC’s key features is its compatibility with the Ethereum Virtual Machine (EVM). This allows developers to easily port their Ethereum-based applications to BSC, taking advantage of its faster transaction speeds and lower fees. BSC uses a consensus mechanism called Proof of Staked Authority (PoSA), combining elements of both proof of stake and authority, to secure the network.BSC supports a growing ecosystem of projects, including DeFi (decentralized finance) applications, NFT platforms, and other blockchain-based services. Its popularity has surged due to the scalability it offers, making it an attractive option for developers and users alike. As a result, BSC continues to evolve, contributing to the broader growth of blockchain technology and decentralized solutions.