You’re a Web3 developer with a great idea, a whitepaper or even an MVP and now it’s time to build out your protocol, test and launch it on a smart contract-enabled blockchain or migrate from your existing L1 to a new one. But which do you choose? While there are many options to consider, we think BNB Chain is the best. Here’s why.
First, a quick primer on BNB Chain, which is composed of BNB Smart Chain (BSC), BNB Beacon Chain (BC) and BNB Sidechain. BSC is a smart-contract enabled Layer 1 blockchain where developers can build and deploy decentralized applications (dApps); BC is the governance arm of BNB Chain where validators stake BNB Token and vote on potential changes to the protocol; and BNB Sidechain allows developers and node operators to build and run their own blockchains as an internal value system for a massive number of users while still maintaining a close connection with BSC.
Compatibility and Composability
The BNB Smart Chain (BSC) supports EVM-compatible smart contracts, protocols and tooling, making it easy for project teams from other blockchains like Solana, Polygon and Avalanche to quickly and easily migrate their dApps to BSC. Cross-chain bridging via Binance Bridge enables users to bring their USDT, BUSD and ETH to BSC, thus providing for smooth inter-blockchain composability and seamless continuation of on-chain business operations. BSC supports the most popular programming languages, flexible tools, and comes with clear and canonical documentation. You can quickly start and deploy your application on a blockchain designed with real use in mind.
Proof of Staked Authority: Faster Block Times, Lower Costs
BNB Chain employs the Proof of Staked Authority (PoSA) consensus mechanism, whereby a set number of nodes validate blocks and secure the network based on the amount of BNB Token they have staked on the Beacon Chain. While more centralized than other L1s, PoSA facilitates faster block times and lower gas fees through more efficient blockchain consensus.
An Ecosystem of Chains
As described above, BNB Chain is currently comprised of three blockchains – BNB Smart Chain, Beacon Chain, and Sidechain – and plans are in full motion to introduce yet another blockchain into the BNB ecosystem.
BNB ZkRollup will allow BSC to scale into a super high performance L1 by processing hundreds of transactions off-chain before being validated on-chain en masse. The BNB team believes that a multi-chain/cross-chain blockchain configuration is better equipped to sustain the ever-increasing demand for decentralized computing power and storage as BNB Dapps grow their user bases and product offerings.
A Thriving Community
BSC has the largest, most talented and most passionate community of developers, entrepreneurs and users in the entire crypto industry. BNB Chain currently has more than a thousand dApps with 215M in unique wallet addresses, 1.2M daily active users and 5.8B total locked value.
BNB Chain also has close to 3 million Twitter followers and thousands of active developers discussing blockchain-related issues in discord and on reddit. And, BSC is the home of some of the most well-known, well-respected and most-used Dapps in the world, including Pancakeswap, Gameta, Hooked and more.
Developer Incentives and Programs
We at BNB Chain know that developers are the heart and soul of our ecosystem and our mission is to help you in every way possible so that you can build a decentralized future on BNB Chain for the benefit of users around the world. To that end, we have a number of programs in place to support you.
Builder Grants of up to $50k per project, and even more for particularly impressive candidates, not only give you financial support, but direct access to the BNB Chain Labs team for consultation.
Our BNB Chain Growth Incentive is a program designed to provide you with financial incentives for your initial growth stages. Our European Innovation Incubator is a virtual program with exclusive meet-ups across the continent helping Web3 startups develop innovative products.
Our Most Valuable Builder accelerator program helps projects develop and grow more organically through coaching, investment, and network support. And, Revelation is BNB Chain’s flagship global hackathon where winners have the opportunity to join the fast track of our MVB accelerator.
We know you have the power to choose where you build and deploy your dApps. We encourage you all to join us on BNB Chain!