BNB Chain vs Cronos

The BNB Chain, formerly known as Binance Smart Chain (BSC), is a blockchain platform introduced by the cryptocurrency exchange Binance. Its native token, BNB, serves various roles within the ecosystem. BNB acts as the network's transaction fuel, similar to gas on Ethereum, and grants users governance rights to participate in on-chain decision-making. In September 2020, Binance introduced the BNB Smart Chain alongside the BNB Beacon Chain, extending BNB's functionality. The BNB Smart Chain supports smart contracts and staking, offering an Ethereum Virtual Machine (EVM)-compatible infrastructure. This dual-chain design aims to provide a high-performance, cost-effective environment for the blockchain community, ensuring compatibility with existing Ethereum tools and dApps while improving scalability and user experience.

Cronos emerges as an interoperable blockchain, streamlining the migration of applications and crypto assets from various chains while prioritizing low transaction costs, rapid throughput, and fast finalization times. It operates as an Ethereum Virtual Machine (EVM)-compatible chain, augmented with support for Inter-Blockchain Communications (IBC) networks based on the Cosmos SDK. This integration empowers developers to create and launch dApps atop the EVM infrastructure.