What is BSc cryptocurrency?

The native BSC cryptocurrency launched during the ICO conducted in July 2017 as an ERC-20 token, less than two weeks before Binance launched. Initially, one could get 2,700 BNB for a single ETH or 20,000 BNB for a single BTC. In a year-to-date (YTD) period since then, BNB outperformed bitcoin by 825% and ethereum by 572%.

What is a BSc token?

The term token refers to distributed block assets, ranging from real-world assets such as real estate to distributed block assets. As the BSC version of the ERC-20 introduced by Ethereum (ETH) in 2017, BEP-20 tokens are considered the BSC version of ERC-20. Binance smart chain has many features one can use.

What are the best cryptocurrency exchanges?

Credible platform – Binance is one of the most popular exchanges, and its credibility is shared across all its platforms, including the BSC. The exchange also plays an important role in the PoSA consensus by vetting all validators on the network, ensuring that the blockchain is secure and reliable.

What is a second-generation blockchain (BSc)?

As a second-generation blockchain, BSC uses Proof-of-Staked-Authority (PoSA) consensus algorithm. Meaning, it combines delegated Proof-of-Stake (PoS) with Proof-of-Authority (PoA). This makes BSC much more energy-efficient than first-generation blockchains relying on Proof-of-Work (PoW), such as Bitcoin or Ethereum.