An Introduction to Binance Smartchain and BEP2
Motivation
After its mainnet community launch in April 2019, Binance Chain has exhibited its high speed and large
throughput design. Binance Chain’s primary focus, its native decentralized application (“dApp”) Binance DEX, has
demonstrated its low-latency matching with large capacity headroom by handling millions of trading volume in ashort time.
Flexibility and usability are often in an inverse relationship with performance. The concentration on providing a
convenient digital asset issuing and trading venue also brings limitations. Binance Chain's most requested
feature is the programmable extendibility, or simply the Smart Contract and Virtual Machine functions. Digital
asset issuers and owners struggle to add new decentralized features for their assets or introduce any sort of
community governance and activities.
Despite this high demand for adding the Smart Contract feature onto Binance Chain, it is a hard decision to
make.
The execution of a Smart Contract may slow down the exchange function and add non-deterministic factors to
trading. If that compromise could be tolerated, it might be a straightforward idea to introduce a new Virtual
Machine specification based on Tendermint, based on the current underlying consensus protocol
andmajor RPC implementation of Binance Chain. But all these will increase the learning requirements for all
existing dApp communities, and will not be very welcomed.
The proposed parallel blockchain of the current Binance Chain to retain the high performance of the native DEX blockchain and to
support a friendly Smart Contract function at the same time.
Design Principles
After the creation of the parallel blockchain into the Binance Chain ecosystem, two blockchains will run side by side to provide
different services. The new parallel chain will be called “Binance Smart Chain” (short as “BSC” for the below sections), while the
existing mainnet remains named “Binance Chain” (short as “BC” for the below sections).
Here are the design principles of BSC:
Standalone Blockchain: technically, BSC is a standalone blockchain, instead of a layer-2 solution. Most BSC fundamental technical
and business functions should be self-contained so that it can run well even if the BC stopped for a short period.
Ethereum Compatibility: The first practical and widely-used Smart Contract platform is Ethereum. To take advantage of the
relatively mature applications and community, BSC chooses to be compatible with the existing Ethereum mainnet. This means
most of the dApps, ecosystem components, and toolings will work with BSC and require zero or minimum changes; BSC node will
require similar (or a bit higher) hardware specification and skills to run and operate. The implementation should leave room for
BSC to catch up with further Ethereum upgrades.
Staking Involved Consensus and Governance: Staking-based consensus is more environmentally friendly and leaves more flexible
option to the community governance. Expectedly, this consensus should enable better network performance over proof-ofwork blockchain system, i.e., faster blocking time and higher transaction capacity
Native Cross-Chain Communication:
Both BC and BSC will be implemented with native support for cross-chain communication among the two blockchains. The
communication protocol should be bi-directional, decentralized, and trustless. It will concentrate on moving digital assets
between BC and BSC, i.e., BEP2 tokens, and eventually, other BEP tokens introduced later. The protocol should care for the
minimum of other items stored in the state of the blockchains, with only a few exceptions.
Binance Smart Chain
A Parallel Binance Chain to Enable Smart Contracts
BEP Tokens
BC supports BEP2 tokens and upcoming BEP8 tokens, which are native assets transferrable and tradable (if listed) via fast
transactions and sub-second finality. Meanwhile, as BSC is Ethereum compatible, it is natural to support ERC20 tokens on
BSC, which here is called “BEP2E” (with the real name to be introduced by the future BEPs,it potentially covers BEP8 as
well). BEP2E may be “Enhanced” by adding a few more methods to expose more information, such as token denomination,
decimal precision definition and the owner address who can decide the Token Binding across the chains. BSC and BC work
together to ensure that one token can circulate in both formats with confirmed total supply and be used in different use
cases.
Token Information
BNB PRIME is a BEP 20 Token, which has been pre-mined using the Binance Smartchain
Blockchain as the backbone of the system.
BNB Prime is primarily a token designed to facilitate niche peer-to-peer transactions, which
find usage in daily trade practices and build an effective base for our future Retail, IT, Real
Estate, and other businesses.
Each token represents a new generation payment source that is being driven by communities
of traders and investors alike. BNB Prime is committed to its key community and its core
team is determined to create value for all stakeholders.
Consensus and Emission
Contract Address: 0x5F0d9FbBE23eBF00b41Cd55EfE5F28b09135d27D
General Emission Type Fixed Supply
Capped Supply? Yes
Supply Cap 50,000,000
Token Name BNB PRIME TOKEN
Token Symbol BNBPRIME
