Binance smart chain list

How to Get Started with Binance Smart Chain (BSC)

TL;DR

Binance Smart Chain (BSC) has been booming with activity. Ranging from token swaps to decentralized money markets and cute NFTs, there are many options to earn yield or simply to have fun.

But what do you need to get started, and how do you do it? We’ll go through it all in this article.

Introduction

That article can give you a walkthrough of the mechanics of the blockchain, while this one will provide practical information about how to get started. So let’s dive in.

Binance Smart Chain (BSC) wallets

First things first, you’ll need a wallet to interact with the applications on BSC. The good news is that you have quite a few options to choose from.

It’s worth keeping in mind that this isn’t an exhaustive list. In addition to the ones mentioned below, you can also use Math Wallet, Ledger, TokenPocket, Bitkeep, ONTO, Safepal, and Arkane.

MetaMask

But wait, isn’t MetaMask an Ethereum wallet? It is, but actually, it’s quite easy to connect it to BSC. This way, you can use a familiar UI when interacting with BSC.

Trust Wallet

Trust Wallet is one of the easiest mobile wallets to use, so if you’d like to use BSC from your pocket, it’s among the best options.

Binance Chain Wallet

Binance Chain Wallet is another option that you have for certain apps on BSC. You can get it as a browser extension for Chrome, Firefox, and Brave. It’s easy to use and has a slick UI.

How to get crypto to Binance Smart Chain (BSC)

So, now we have plenty of wallets to choose from, but how can we move funds to the chain? We can withdraw from our Binance account or use the Binance Bridge.

Before we go further, however, it’s important that we clear up some conceptual background.

Withdrawing from Binance

Chances are if you’re reading this, you already have a Binance account. The easiest option may be to simply withdraw from your Binance account to a BSC wallet.

Just make sure to select Binance Smart Chain (BEP-20) when withdrawing funds to your external wallet.

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Binance Smart Chain

What is Binance Smart Chain?

Binance Smart Chain brings EVM-compatible programmability and native cross-chain communication with Binance Chain using an innovative consensus of Proof of Staked Authority(PoSA)

Why is Binance Smart Chain designed as a separate chain from Binance Chain?

The execution of a Smart Contract may slow down the exchange function and add non-deterministic factors to trading. Even if that compromise could be tolerated, it might be a straightforward idea to introduce a new Virtual Machine specification based on Tendermint, based on the current underlying consensus protocol and major RPC implementation of Binance Chain. But all these will increase the learning requirements for all existing dApp communities, and will not be very welcomed.

How does Binance Smart Chain work? What is the architecture and consensus used?

Binance Smart Chain relies on a system of 21 validators with Proof of Staked Authority (PoSA) consensus that can support short block time and lower fees.

There will be fewer validators on Binance Smart Chain testnet.

Can you tell more about Proof of Staked Authority(PoSA)? What is it?

PoSA is a combination of PoA and PoS. Blocks are produced by a limited set of validators, they are elected in and out based on a staking based governance. Validators take turns to produce blocks in a PoA manner

What are the benefits for developers to build on Binance Smart chain?

• EVM-compatible: Binance Smart Chain supports all the existing Ethereum tooling Fast block time, cheaper cost
• Native cross-chain trasfer & communication: Binance DEX remains a liquid venue of exchange of assets on Binance Chain and Binance Smart Chain»

What are the benefits for developers to build on Binance chain?

Binance Chain opens the gate for users to take advantage of the fast transferring and trading

How many assets are issued on Binance chain?

There are already 140 assets on Binance Chain

The introduction of BEP8 is an innovative way for tokenization of properties

What make Binance Smart Chain different?

Native Cross-Chain Communication

Expand the use cases of BNB token

Binance Smart Chain is EVM-compatible. What does that mean?

EVM means Ethereum Virtual Machine. Any smart-contract written to run in EVM can be easily ported to Binance Smart Chain.

Can developers make hybrid Dapps using both Binance Chain and Binance Smart Chain in one single Dapp?

Yes, with the help of native cross-chain functions

How to query the current system parameters

minimium delegate amount: 1BNB

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Binance smart chain list

Краткое руководство по созданию вашего первого кошелька Binance Smart Chain.

1. Скачайте MetaMask тут .

2. Завершите базовые настройки (Не забудьте сохранить резервные фразы)

3. Нажмите сверху “Main Ethereum Network”.

4. Нажмите на “Custom RPC”

5. Скопируйте и вставьте каждый ряд в каждое поле, как это сделано в примере ниже.

Это должно выглядеть следующим образом:

Скопируйте и вставьте текст из поля ниже:

Binance Smart Chain

Скопируйте и вставьте текст из поля ниже:

Скопируйте и вставьте текст из поля ниже:

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Block Explorer URL

Скопируйте и вставьте текст из поля ниже:

7. Поздравляем! Теперь у вас есть кошелек Binance Smart Chain!

Краткое руководство по созданию вашего первого кошелька Binance Smart Chain.

1. Скачайте MetaMask тут .

2. Завершите базовые настройки (Не забудьте сохранить резервные фразы)

3. Нажмите сверху “Main Ethereum Network”.

4. Нажмите на “Custom RPC”

5. Скопируйте и вставьте каждый ряд в каждое поле, как это сделано в примере ниже.

Это должно выглядеть следующим образом:

Скопируйте и вставьте текст из поля ниже:

Binance Smart Chain

Скопируйте и вставьте текст из поля ниже:

Скопируйте и вставьте текст из поля ниже:

Скопируйте и вставьте текст из поля ниже:

Block Explorer URL

Скопируйте и вставьте текст из поля ниже:

7. Поздравляем! Теперь у вас есть кошелек Binance Smart Chain!

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A Quick Guide to BNB Staking on Binance Smart Chain (BSC)

TL;DR

Binance Smart Chain lets you enjoy borderless DeFi infrastructure for low fees. It’s powered by a set of 21 community validators that process transactions, provide computing power and hardware, and maintain network security. In return, they receive rewards from transaction fees and BNB staking.

Would you also like to contribute to the growth of BSC and earn a reward for it? Anyone who’s a holder of BNB can do that by simply staking BNB as a delegator. Let’s see how it works and how you can participate.

Introduction

With that said, building an ecosystem and community of projects, infrastructure, developers, tooling, and users isn’t an easy feat. It’s what makes crypto so powerful, and it’s also what can make open-source software a type of common good.

The goal of community validators is to grow BSC into a bigger and more accessible ecosystem. So what does this actually mean, and how can you participate?

What is a Binance Smart Chain (BSC) validator?

Validators take turns to produce blocks. They essentially power the BSC network by processing transactions and signing blocks. In return for their service, they earn a reward in BNB tokens. Meanwhile, they also require daily re-election by staking governance to be able to continue to be part of the validator set.

What is a Binance Smart Chain (BSC) delegator?

Becoming a validator is not for everyone, so how can you participate as a regular user?

You can become a delegator and stake your BNB to validator candidates through one of the supported wallets. Through staking, you can choose your preferred validator and help them achieve the minimum stake required by the protocol.

Should I become a delegator on Binance Smart Chain (BSC)?

Well, the choice is up to you. By becoming a delegator, you’re delegating your stake to your preferred validator. You are also trusting them to vote on governance decisions on your behalf. Wait, there are also governance rights to BNB? Yes. Validators can govern certain network features of BSC, such as adjusting gas prices, changing system parameters, or even upgrading the blockchain.

By delegating, you also increase the validator’s stake in the overall reward pool. As both of you benefit from joining forces, both of you earn a reward. In February 2021, the average daily staking reward for a BSC validator was 134 BNB. Meanwhile, the average APR for BSC delegators was 60%.

While economic incentives are great and make the world go round, being a delegator isn’t only about the returns. By becoming a delegator, you are directly supporting the operation and security of BSC.

How to become a validator on Binance Smart Chain (BSC)

So you’ve decided you’re going to reach for the stars and become a BSC validator. What do you need to do?

To become a validator on BSC, you need to fulfill these requirements:

This will allow you to get on the validator candidate list and potentially attract more delegators to stake (delegate) their BNB to your validator.

As of March 2021, the top 21 elected validators all have more than 150,000 BNB staked, so you’ll have plenty of competition (which is good for the network’s overall health).

How to become a delegator on Binance Smart Chain (BSC)

Becoming a delegator is probably a better choice for you if you don’t want to go through all the technical nitty-gritty of becoming a validator. If you’re a holder of BNB, delegating your stake can be a straightforward solution to support BSC and earn a return.

You can check out these guides for how to stake your BNB using some popular wallets:

The staking rewards are distributed to delegators every day at 00:00 UTC. When you delegate your stake to a validator, you’ll start receiving rewards the second day after you have delegated.

Closing thoughts

Whether you’re a developer, user, or just a DeFi enthusiast, there are many ways to participate in building the BSC ecosystem. BNB staking, however, is an excellent way for anyone to get involved with BSC as a direct supporter of network health and security.

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6 Binance Smart Chain (BSC) Metrics You Should Know

TL;DR

Binance Smart Chain (BSC) has seen some nice and steady growth in on-chain activity and usage. But what does that actually mean in terms of numbers? The beauty of public blockchains is that they are… well, public. You can track the progress yourself.

Introduction

1. Binance Smart Chain yield farms

2. Binance Smart Chain average gas price

As we’ve mentioned, BSC has extremely low fees. In BSC, 1 gwei is 10-9 or 0.000000001 BNB.

With an average gas price of 20 gwei, sending 10 BNB worth about $300 should cost you roughly $0.01. In fact, sending ten or even a hundred times that amount still shouldn’t cost you more than a few cents. From the transaction history, we can see that some of the transactions paid higher fees than that. Some users may have brought their old habits from using Ethereum or other compatible tools. It’s really not necessary. Binance Smart Chain is still far from congestion, so 20 gwei should be enough.

3. Binance Smart Chain unique address count

So does it mean that if a blockchain has 100 unique addresses, then it has 100 unique users? Absolutely not! Anyone can create multiple addresses, and thanks to the magic of cryptography, even if they did, we wouldn’t run out of addresses for a long time. And even then, it would be quite difficult to find out if those addresses belong to the same entity.

So we know that anyone can create multiple addresses, and this metric is an overestimation. Still, the unique address count can give us a rough idea of the network’s growth.

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