What is the Binance Smart Chain (BSC)?
The Binance Smart Chain (BSC) is a blockchain platform developed by Binance, the world’s largest cryptocurrency exchange.
It is a decentralized, open-source blockchain that is built on the Ethereum Virtual Machine (EVM). The BSC allows developers to create and deploy decentralized applications (dApps) and smart contracts on the blockchain. The BSC is interoperable with the Ethereum network, meaning that it can interact with Ethereum-based dApps and smart contracts.
This allows developers to use existing Ethereum tools and protocols to build their applications on the BSC. The BSC also supports cross-chain transactions, allowing users to move assets between different blockchains. PancakeSwap is a decentralized exchange (DEX) built on the Binance Smart Chain.
It allows users to trade cryptocurrencies without having to trust a third party or go through a centralized exchange. PancakeSwap uses an automated market maker (AMM) model, which allows users to trade tokens without having to match buyers and sellers manually. PancakeSwap also offers yield farming opportunities, allowing users to earn rewards for providing liquidity to the platform.
