Educational Post How Binance Smart Chain (BSC) works? Consen | Binance futures & spot signals

Educational Post

How Binance Smart Chain (BSC) works?

Consensus

BSC uses a Proof-of-Stake consensus algorithm to achieve ~3 second block times. Proof of Staked Authority (or PoSA) used by BSC allows participants to stake BNB and become validators.

If the participants introduce a valid block, then they’ll receive transaction fees from the transactions added to it. As BNB is not inflationary, there is no block subsidy of freshly-minted BNB. Conversely, the BNB supply decreases over time as the BNB coins are burned regularly. 

Cross-Chain Compatibility

Binance Smart Chain is built as an independent but complementary system to Binance Chain. It uses Dual-chain architecture so that users can seamlessly transfer their assets from one blockchain to another. Hence, rapid trading can be enabled on Binance Chain, and decentralized applications can be built on BSC.
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