Crypto Climate Exchange Opens Binance BNB Bep20 Node.
We are pleased to announce our new Binance BNB Bep20 node that will offer more trading opportunities and much cheaper transfers in and out of the exchange.
The Binance Smart Chain (BSC) mainnet was launched on September 1, 2020. Binance Smart Chain aims to enhance the functionality and interoperability of Binance Chain. The BSC will enable the creation of smart contracts and the staking facility for BNB. It relies on a system of 21 validators with Proof of Staked Authority (PoSA) consensus. With approximately a ~5 second block time, the BSC offers high-speed transactions and lower fees.
The most bonded validator candidates on Binance Smart Chain become the validators and produce blocks. The double-sign detection and other slashing logic guarantee security, stability, and chain finality.
BSC supports EVM-compatible smart contracts and protocols. It supports cross-chain transfers and allows for the creation of “pegged coins” (tokens pegged to the BSC chain), including BTC, ETH, TRX, and more. Pegged coins operate as BEP-20 tokens on Binance Smart Chain, similar to Ethereum’s ERC-20 tokens.
PancakeSwap, BakerySwap, etc. are the first DeFi protocols that were launched on the BSC. These protocols received quite a good user acceptance in the weeks following their launches.