This website uses cookies to ensure you get the best experience on our website

Binance Chain Versus the Binance Smart Chain (BSC): What's the Difference?

BNB is a valuable coin, available for trading in several exchanges, including CryptoAltum.

The difference with other exchanges is that CryptoAltum allows all its traders to leverage up to 500X in a secure MT5 environment. 

But what are BNB's value drivers?

Indeed, Binance, the exchange, pins its operations around the BNB token.

While at it, Binance Chain and the Binance Smart Chain (BSC) also play a part in propping BNB's prices.

The primary difference between Binance Chain and the BSC is that the latter supports smart contracting. It is specifically meant to compete with Ethereum and therefore has a token standard to that effect. 

While Ethereum uses the ERC-20 standard, the BSC adopted the BEP-20 standard. Tokens conforming to this style of minting are interoperable and can be stored using MetaMask, for instance.

The Binance Chain, on the other hand, lacks the smart contracting capability. However, it hosts the Binance DEX. This chain is less activity-dense than the BSC and has its token standard, the BEP-2.

What a trader should know is that BEP-20 and BEP-2 tokens use BNB as 'fuel’.

For more interesting tips and facts visit our Education Centre.

Have Questions? 

We're available 24/7 to help you. You can email us, or send us a message on WhatsApp, Telegram or Messenger!

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020