Posted By : Jagveer
Binance Smart Chain is a fully decentralized application, the main goal of fast trading while being able to handle a large number of transactions. Like in Ehereum we pay ETH for the gas fee, in Binance Smart Chain we use BNB for the gas fee.
Binance Smart Chain is a decentralized blockchain that delivers programmability and smart contracts to the Binance Chain.
Ethereum-Binance Smart Chain bridge is developed by Binance and used for transfer/bridge pegged assets cross-chain, i.e. transfer assets in or out of Binance smart chain. Binance bridge service providing access to inter-blockchain liquidity for Binance Chain.
Peg-In Procedure allows users to swap their crypto assets to the equivalent of pegged tokens on Binance Smart Chain. The following steps are taken:
Peg-Out Procedure allows users to swap their crypto assets to the equivalent of pegged tokens on Binance Smart Chain. The following steps are taken:
When any users swap their tokens from Binance Smart Chain-Etherum bridge then they need to pay some amount of gas fee to create a transaction on Binance Smart Chain. so users must have some BNB in their wallets for the gas fees.
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April 2, 2025 at 11:36 am
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