What are the differences between BNB and Smart Chain in the cryptocurrency industry?

3 answers

• Dec 06, 2021 · 3 years ago
  Binance Coin (BNB) is the native cryptocurrency of the Binance exchange, primarily used for trading fees and participation in token sales on the Binance platform. On the other hand, Binance Smart Chain (BSC) is a blockchain platform that runs parallel to Binance Chain, offering smart contract functionality and enabling the creation of decentralized applications (dApps) and digital assets. While BNB is mainly used for transactions within the Binance ecosystem, BSC provides a platform for developers to build and deploy their own blockchain applications and tokens. In summary, BNB is a cryptocurrency, while BSC is a blockchain platform that utilizes BNB as its native token.
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• Dec 06, 2021 · 3 years ago
  BNB and BSC are both products of Binance, but they serve different purposes. BNB is primarily used for trading and accessing various services on the Binance exchange, while BSC is a blockchain platform that allows developers to create decentralized applications and digital assets. BNB operates on the Binance Chain, which is a separate blockchain, while BSC runs parallel to Binance Chain, providing additional functionalities like smart contracts. So, BNB is more like a traditional cryptocurrency, while BSC is a platform for building decentralized applications and tokens.
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• Dec 06, 2021 · 3 years ago
  BNB and BSC are two different entities within the Binance ecosystem. BNB is the native cryptocurrency of the Binance exchange, used for trading, fees, and other services on the platform. BSC, on the other hand, is a separate blockchain platform that operates alongside Binance Chain. It offers smart contract capabilities and enables developers to build decentralized applications and issue their own tokens. While BNB is mainly used within the Binance exchange, BSC provides a broader platform for blockchain development and innovation.
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