connecting to binance smart chain metamask

#CONNECTING TO BINANCE SMART CHAIN METAMASK SOFTWARE#

Since the BEP20 token is similar to both BEP2 and ERC20 tokens, its compatible with both. Its BEP20 token is itself an extension of the ERC20 token standard for Ethereum. Users get a high transaction capacity of BC while BSC lets them enjoy smart contract functionality.īSC also supports ERC20 tokens, or as they are called on the network, BEP2E tokens. The dual nature of the BC and BSC chains offers users the best of both worlds. You need BNB to pay for gas and transaction fees as well as run smart contracts on BSC. It’s the BEP20 token that has support for smart contracts. But while, the token standard for Binance Chain is BEP2, for the Binance Smart Chain, it’s BEP20. Using BSC for NFTs has various benefits, like:īSC runs on the native cryptocurrency of the Binance platform: BNB (Binance Coin). PoSA is a modified version of Proof-of-Stake which requires users to stake their identity and reputation instead of tokens. Although both chains work independently of each other, both chains are still linked through a Binance bridge.īinance Smart Chain uses a Proof of Staked Authority (PoSA) algorithm instead of the Proof-of-Work algorithm that makes gas on Ethereum so volatile. Second, it can also support Ethereum applications and projects to run natively on the Binance Smart Chain. But the main difference is that the BSC blockchain is equipped with support for Ethereum Virtual Machine (EVM) as well as smart contracts. Instead, it was made to fix some programmability limitations with the latter. The Binance Smart Chain blockchain doesn’t replace the Binance Chain blockchain. Both blockchains are owned by the Binance cryptocurrency exchange. Binance Smart Chain is a parallel blockchain platform for the Binance Chain network. If you’re still on the edge about the Binance Smart Chain blockchain or want to make a more informed decision, here’s a little overview. Whatever your reasons may be, there’s a completely easy way to do it.

#CONNECTING TO BINANCE SMART CHAIN METAMASK SOFTWARE#

Or it’s also possible that you already use the MetaMask wallet and don’t want to go through the trouble of creating another software wallet.

These features have, after all, taken years to come into effect and recent wallets on the BSC blockchain still have a long way to come. Using MetaMask with Binance Smart Chain gives users all the features that MetaMask offers when it comes to interacting with blockchain applications.

But the configuration of the software wallet is to interact with the Ethereum blockchain only.įortunately, it’s easy to use it with the Binance Smart Chain as well. MetaMask is one of the most popular crypto wallets out there, especially for NFTs. As such, the solutions that already exist for Ethereum are unmatched. But it’s still the most popular blockchain when it comes to NFTs. The unpredictable nature of gas on Ethereum might be driving people to seek out alternatives. The model of the Ethereum blockchain has led to steep rises in gas prices. Binance Smart Chain has become very popular lately, owing to the fact that people are always looking for alternatives to the Ethereum blockchain.

Connecting to binance smart chain metamask