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Geth combines and implements two types of consensus schemes: ethash (PoW-based) and clique (PoA-based). Ethash is not a good choice for BSC because BSC gives up PoW.
Clique’s blocking time is much shorter and is 51% attack resistant, that it changes the underlying data structure as little as possible to maintain compatibility with active Ethereum clients.
A wants to send money to B
The transaction is represented online as a block
The block is broadcasted to every party in the network
The network approves the transaction
The block is added to the existing blockchain in a transparent and unaterable way
The transaction is complete
IN ORDER TO PROVIDE YOU WITH THE BEST SERVICE AND CONFIDENCE IN YOUR TRANSACTION, WE INSIST THAT YOU READ THE WHITEPAPER AND LEGAL TERMS. THANK YOU!
There are several genesis contracts to help implement on BSC:
This is an observer of the distributed consensus process implemented by a contract that merely validates the Binance chain consensus algorithm.
Provides the communication layer of the cross chain. Verifies the sequence and merkle proof of the cross chain packet. BSCValidatorSet contract. Observes changes to the BSC validators in the Binance chain.
An incentive mechanism for relays to maintain system contracts. They receive rewards from the system reward contract. Liveness Slash Contract. Liveness BSC is based on a set of validators who produce blocks on time when it is their turn.
The BSC can use the powerful chain management capabilities of Binance, for example, to propose changes to the characteristics of system contracts.
PRESALE 1 – OFFICIAL END
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Geth implements two kinds of consensus engine: ethash(based on PoW) and clique(base on PoA). Ethash is not a fit option for BSC because BSC gives up PoW. Clique has smaller blocking time and is invulnerable to 51% attack while doing as little to the core data structure as possible to preserve existing Ethereum client compatibility.
operates using a Proof-of-Authority consensus mechanism
The incentive mechanism for relayers to maintain system contracts. They will get rewards from system reward contract.
Unlike Proof-of-Work, the light-client protocol does not need to download and check all the headers in the blockchain.
EVM-compatible: Supports all the existing Ethereum tooling along with faster finality and cheaper transaction fees.
U can access your assets anywhere using a mobile Crypto BSC Wallets.
A self-sovereign blockchain: Provides security and safety with elected validators.