BSC (BNB Smart Chain)
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BSC (BNB Smart Chain) is a blockchain developed by Binance that supports smart contracts and decentralized applications (dApps). It runs in parallel with the original BNB Beacon Chain and was designed for fast, low-cost transactions.
BSC is EVM-compatible (Ethereum Virtual Machine), meaning most Ethereum-based tools, wallets, and smart contracts can work on BSC with minimal modifications.
Key facts
- Native currency: BNB
- Token standard: BEP-20
- Consensus: Proof of Staked Authority (PoSA) — 21 validators
- Block time: ~3 seconds
- Explorer: BscScan
BSC is not mined
Unlike Bitcoin or Ethereum (pre-Merge), BSC does not use Proof of Work. It relies on Proof of Staked Authority, where a fixed set of validators produce blocks. There is no BSC mining — BNB cannot be mined.
Relevance to miners
BSC appears in the mining context primarily through:
- Wrapped assets — BTCB (wrapped BTC on BSC) and other BEP-20 versions of mineable coins
- Payouts — some exchanges and services operate on BSC; selecting the wrong network when withdrawing mined coins can result in lost funds
- DeFi — miners sometimes use BSC-based DeFi protocols to swap or stake mined coins
