Blockchain ➢

BSC

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BNB Smart Chain (BSC) is a layer-1 blockchain launched by Binance in September 2020 as a parallel blockchain to Binance Chain. While Binance Chain prioritized fast and straightforward transactions, it lacked advanced programmability for smart contracts. BSC was created to address this gap, enabling decentralized applications (dApps) and offering compatibility with Ethereum’s ecosystem via the Ethereum Virtual Machine (EVM).
BSC is widely adopted in Web3 gaming due to its efficiency, low transaction fees, fast processing and wide ecosystem support.

How BSC Works

BSC operates as a blockchain that supports smart contracts and dApps. It uses a consensus mechanism called Proof of Staked Authority (PoSA), a hybrid of Proof of Stake (PoS) and Delegated Proof of Stake (DPoS). Here’s a simplified breakdown:

  1. Validators stake BNB to become eligible for validating transactions.
  2. A limited number of validators (usually 21) produce blocks, ensuring high throughput and low latency.
  3. Validators earn transaction fees as rewards for maintaining the network.

BSC achieves compatibility with Ethereum through its support for the Ethereum Virtual Machine (EVM), enabling developers to port their Ethereum-based projects to BSC with minimal modifications.

Uses in Web3-Supported Games

BSC is widely adopted in Web3 gaming due to its efficiency and ecosystem support. Its low transaction fees and fast processing make it ideal for games requiring frequent interactions, such as asset trades and in-game rewards. Use cases include:

  • Tokenized Game Economies: BSC enables the creation of in-game currencies using BEP-20 tokens. Players can earn, trade, and use these tokens across games.
  • NFT Integration: Using BEP-721 or BEP-1155, developers can tokenize characters, weapons, and skins as NFTs, ensuring true player ownership and cross-game interoperability.
  • DeFi Features: Games on BSC often integrate DeFi mechanics, such as staking game tokens for rewards or participating in liquidity pools.
  • Interoperability: BSC’s compatibility with Ethereum tools and wallets (e.g., MetaMask) simplifies onboarding for players and developers alike.

Token Standards on BSC

BSC supports various token standards, each designed for specific purposes:

  • BEP-20: Analogous to Ethereum’s ERC-20, this is the most widely used standard for fungible tokens on BSC. It facilitates token creation for DeFi, Web3 games, and governance.
  • BEP-721: A token standard for non-fungible tokens (NFTs), ideal for digital collectibles and gaming assets.
  • BEP-1155: A multi-token standard allowing the creation of both fungible and non-fungible tokens in a single smart contract, making it suitable for games with diverse asset types.

Popular Web3 Games on BSC

  • CryptoBlades: An RPG game where players earn BNB and in-game NFTs.
  • My DeFi Pet: A virtual pet game combining DeFi elements with collectibles.
  • MOBOX: A platform blending DeFi and NFT-based gaming experiences.

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