The Binance chain is the native blockchain of Binance, the world’s largest cryptocurrency exchange by trading volume. The project was born of a need for a decentralized, transparent and immutable blockchain that can be used as a public ledger for recording all transactions on the platform. The new chain will serve as the foundation for Binance’s native DEX and will also feature tools that will enable third-party developers to develop their own decentralized applications (dApps) based on the technology. Binance hopes its blockchain will “provide an underlying layer of a seamless financial infrastructure, driving rapid growth in digital asset adoption.”

BNB Chain

Bitcoin is a decentralized digital currency that works as a medium of exchange for goods and services. It was created in 2009 by a pseudonymous programmer named Satoshi Nakamoto (believed to be a Japanese man) as an alternative to other existing forms of currency, which are controlled by national governments and monetary authorities. Similar to cash, Bitcoin only exists digitally, but unlike cash it can be used to buy things electronically, like online goods or services. Bitcoin is made possible by a technology known as blockchain, which acts as the underlying infrastructure that makes facilitating transactions possible without the need of a third party (for example, banks).

	BNB Chain	Bitcoin
Created by	Changpeng Zhao	Satoshi Nakamoto
Native token	BNB	BTC
Consensus algorithm	PoS	PoW
Hashing algorithm	KECCAK-256	SHA-256
Supports EVM	Yes	No
TPS	2200	5
Block time (secs)	3	600
Layer	1	1
Supports smart contracts	Yes	No
Average transaction fee	$0.35	$5.0973
Staking rewards (APR)	0%	0%

BNB Chain vs. Bitcoin

Overview

Table of Contents

Comparison

Is BNB Chain faster than Bitcoin?

Is BNB Chain cheaper than Bitcoin?