BSC provides the cheap and fast platform for Defi application compared to Ethereum, but in the same time it gives the total support to the smart contracts of Ethereum.
It isn’t directly so. Depending on the origin, BSC is highly dependent on Binance itself which controls all operations with digital currencies. On the other side, the popularity and speed of work of BSC attract even more scammers and that leads to the implementation of even more strict regulations for BSC which also leads to centralization.
Back in 2020, Binance created another blockchain named Binance Smart Chain that supports Ethereum Virtual Machine (EVM) and functions of smart contracts. Thus, it becomes much more attractive for Dapps developers and new potential customers. Today, both of these blockchains are merged into BNB Chain, a multilayered blockchain with the power to handle large-scale applications.
The name speaks for itself: it’s a digital wallet for the digital currencies of Binance. It’s quite versatile as you have access to multiple projects like Ethereum and BNB Chain. Binance Smart Chain wallet provides you with quick distributed trading: exchange BNB, mint NTFs, go for yield farming, and so on.