Why is BNB Smart Chain considered the next Ethereum?
BNB Smart Chain (BSC) is a blockchain platform launched by the popular cryptocurrency exchange Binance. Powered by its native token BNB, BSC aims to provide an alternative to the Ethereum network by offering faster and cheaper transactions. It achieves this by using a different consensus mechanism called Proof of Staked Authority (PoSA). BSC's compatibility with the Ethereum Virtual Machine (EVM) allows developers to easily migrate their dApps from Ethereum to BSC, leveraging its high throughput and low fees.
Thanks to a large number of users, familiar features that are heavily inspired by the Ethereum blockchain, and backing by the world’s largest crypto exchange, BNB Smart Chain is considered as the top Ethereum killer.
