The Binance Smart Chain was built in tandem with the Binance chain. It runs parallel to the Binance chain and can also be considered an update to the existing network. It permits creating smart contracts on the blockchain and allows for new staking mechanisms to BNB. The Binance Smart Chain creates a network for traders, validators, token holders, and developers, who can enjoy the utility of both the Binance Network and the BNB token.
Another notable feature of the Binance Smart Chain would be its EVM (Ethereum Virtual Machine) integration that allows users and developers to deploy Ethereum decentralized applications or dApps on the Binance network. Following a Proof of Authority Consensus (PoA) mechanism and a 5 second block time, BSC furnishes its users with high-speed transactions that cost the participants on the network little to no money.