BNB

Network Clarity (Critical)

• "BNB Chain" is the main smart contract chain — formerly Binance Smart Chain (BSC)
• "BNB Beacon Chain" was for staking — deprecated, merged into BNB Chain
• BEP-20 tokens on BNB Chain — equivalent to ERC-20, EVM compatible
• Same address format as Ethereum — 0x... addresses work on both
• DIFFERENT networks — sending to wrong network loses funds

BNB Token

• Native gas token for BNB Chain — needed for all transactions
• Also available as BEP-2 (legacy), ERC-20 (Ethereum), and other wrapped versions
• BNB on Binance exchange can be withdrawn to multiple networks — choose carefully
• Burning mechanism reduces supply — quarterly burns based on trading volume

Gas and Fees

• EVM compatible gas model — same as Ethereum but cheaper
• Gas prices typically 3-5 gwei — much lower than Ethereum
• Standard transfer ~21,000 gas — costs fraction of a cent
• Complex DeFi transactions cost more — but still very cheap
• Fast block time (3 seconds) — quick confirmations