BNB Chain
BNB Chain is an open-source blockchain ecosystem whose principal network, BNB Smart Chain (BSC), supports smart contracts and is compatible with the Ethereum Virtual Machine. BSC uses BNB as its native asset for transaction fees and staking.[1][2]
History
Binance Chain launched in April 2019 as a network focused on asset issuance and trading. Binance Smart Chain launched in September 2020 as a parallel, EVM-compatible network for smart contracts.[3] In February 2022, the ecosystem adopted the name BNB Chain and renamed Binance Smart Chain as BNB Smart Chain.[4]
The original chain, later called BNB Beacon Chain, was retired after its staking, governance and asset functions were migrated to BNB Smart Chain. It stopped producing blocks in December 2024.[5]
Architecture
BNB Smart Chain is the ecosystem's layer-one smart-contract network. It is designed to run Ethereum-compatible applications and tooling. Its Proof of Staked Authority consensus combines stake-based validator selection with a limited validator set; validators can be penalized for double-signing, downtime and other defined behavior.[6]
The broader ecosystem also includes opBNB, an Ethereum-compatible layer-two network, and BNB Greenfield, a blockchain-based data-storage network.[7]
Network upgrades
Pasteur hard fork (2026)
BNB Smart Chain activated the Pasteur hard fork on 25 August 2026. The release grouped three proposals under BEP-673. BEP-682 rejects duplicate validators when cross-chain light-block signatures are checked. BEP-695 changes validator-key rotation, slashing and governance validation. BEP-675 adds an optional path through which block builders can propose blocks for validator signing.[8][9]
BNB Chain reported that controlled testnet benchmarks increased throughput from 1,237 to 2,324 transactions per second. These figures were testnet measurements and did not establish sustained mainnet throughput.[10][11]
BNB
BNB, originally issued in 2017 as an ERC-20 token, is the native asset of BNB Chain. It is used to pay network fees, participate in staking and governance, and obtain certain benefits in the Binance ecosystem.[12]
See also
References
- ↑ BNB Chain documentation, “BNB Smart Chain — High Performance DeFi Hub”.
- ↑ U.S. Securities and Exchange Commission, registration statement describing BNB and BNB Chain, 2026.
- ↑ BNB Chain, “A Journey to Decentralization: Validators & Delegators”, 5 March 2021.
- ↑ BNB Chain, “BSC Is Now BNB Chain”, 15 February 2022.
- ↑ BNB Chain documentation, “BNB Chain Fusion overview”, 17 December 2024.
- ↑ BNB Chain documentation, “Introduction”.
- ↑ U.S. Securities and Exchange Commission, registration statement describing the BNB Chain architecture, 2026.
- ↑ BNB Chain, “BEP-673: Hardfork Meta-Pasteur”.
- ↑ BNB Chain, “Pasteur Hardfork Arrives on BSC Mainnet on August 25”, 14 August 2026.
- ↑ BNB Chain, “Pasteur Hardfork Arrives on BSC Mainnet on August 25”, 14 August 2026.
- ↑ Cointelegraph, “BNB Chain activates Pasteur hard fork to strengthen bridge security”, 25 August 2026.
- ↑ U.S. Securities and Exchange Commission, registration statement describing BNB, 2026.