Smartchain Support for EVM
Binance Smart Chain (BSC) is one of the main chains in the dual public chain mechanism of Binance, the world's largest digital currency exchange, and can be seen as a Blockchain parallel to the Binance chain.It mainly serves the De Fi and NFT ecosystem currently.
BSC has some innovations in consensus algorithm, and its Po SA (Proof of Stake Authority) consensus algorithm combines the functions of DPo S and Po A mechanisms, and is built on a network of 21 validation nodes, with second-level block-out time to establish a high-speed infrastructure for De Fi protocol. (The word smart in BSC is reflected in the smart contract-related functions: BSC supports smart contract writing functions and is compatible with the existing Ethereum Virtual Machine (EVM) and all applications and tools under its ecosystem, allowing developers to easily migrate and deploy Ethernet DApps, saving development efforts. Finally, as a parallel chain that can interact with BC, BSC natively supports cross-chain communication and transactions. In general, the technical advantages of BSC are obvious, which are reflected in the following aspects:
•Smart contracts: BSC has the function of writing smart contracts. DApps with different functions are the basic elements of De Fi's ecosystem, and smart contracts represent the underlying rules and operational logic of DApps. At the same time, the programmability also greatly increases the expandability of BSC and enables the diversification of DApp functions. Therefore, smart contracts are the cornerstone of the "building" of the DeFi ecosystem.
•EVM compatible:BSC is compatible with the existing Ethereum Virtual Machine (EVM) and all the applications and tools under its ecosystem, which greatly reduces the threshold of DApp development for developers. Developers can easily migrate and deploy Ethernet DApps, saving development efforts. The significance of EVM compatibility is that it can maximize the compatibility with the hottest Ether ecosystem, attracting developers and overflow funds on Ether.
• Cross-chain function: The significance of cross-chain is to enrich the coins and increase the liquidity of De Fi ecosystem. As of today, the Binance's "Pass Canal" has completed cross-chain interoperability of BTC, ERC 20 (ETH, LINK, USDT, DAI, etc.), XRP, BCH, LTC, ADA, DOT, XTZ, BSC and other assets on Ether. This also means that all these assets can be migrated to the Cryptocurrency Smartchain and become liquid for DEFI to operate.
For the above reasons, we have chosen BSC and HSC as the base chains of Boom Space. BSC and HSC will create more imaginable space for Boom Space's underlying construction and cross-chain ecological compatibility, and also create more ecological value support for the circulation of SPACE tokens.
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