What is Binance Smart Chain?

Binance Smart Chain (BSC), launched by crypto exchange Binance, is an Ethereum Virtual Machine (EVM)‐compatible blockchain built to support smart contracts and staking in parallel to the previously launched main chain, Binance Chain.
Binance Smart Chain is focused on making DeFi affordable by offering a higher gas block limit and faster block times than Ethereum. Its design is based on the Ethereum Geth client and a copy of the EVM, allowing projects from the Ethereum ecosystem to function natively within BSC.
BSC allows users to build Dapps and stake on Binance Smart Chain while still making fast asset trades on Binance Chain; Binance Chain remains fast because it does not need its own smart contract functionality. Binance Chain is a Tendermint‐based protocol built using portions of the Cosmos SDK.