What BNB Chain is
BNB Chain is a family of networks whose main chain, BNB Smart Chain, launched in September 2020 as Binance Smart Chain and was renamed in 2022. It is fully compatible with the Ethereum Virtual Machine and runs on Proof of Staked Authority: BNB holders delegate stake to validator candidates, which decides who produces blocks, and changes go through onchain governance.
Blocks come in well under a second, and with fast finality a block is final two blocks later. BNB is the chain's native token, used for transactions, staking and governance, and tokens on it follow BEP-20, its counterpart to ERC-20. Exchanges, wallets and DeFi apps rely on it, which is why it is one of the chains our custody module supports.
What it does in your platform
Custody & wallets
Gives each customer a BNB Smart Chain address for BNB and the BEP-20 tokens you list, credits deposits once their block is final, and signs withdrawals under policy. As an EVM chain, it runs on the same connector as Ethereum, with its own settings.
How the connection works
The module reads BNB Smart Chain over the same JSON-RPC interface as Ethereum, from your own node or a node provider such as Infura, Alchemy or QuickNode, and signs through your custody provider or your own keys.
An address per customer
The module gives the customer an address on BNB Smart Chain, which receives BNB and every BEP-20 token you support.
Blocks in under a second
Validators produce blocks in quick succession, and the module reads each one for transfers to your addresses.
Final two blocks later
With fast finality, a block is final once two more follow it. The module reads the block tagged 'finalized' and counts deposits at or below it.
Screened and credited
The deposit is screened and credited, and the movement appears in the backoffice.
A withdrawal signed
After limits, screening and approvals, the transaction is signed by your custody provider or your own keys, sent to the network and reconciled once final.
Next to other chains
BNB Smart Chain shares Ethereum's address format and node interface, so it runs on the module's EVM connector with its own node access, tokens and finality rule, under the same policies, approvals, screening and reconciliation as every other chain.
A BEP-20 token and its namesake on Ethereum are separate contracts on separate chains. The ledger keeps each as its own currency, so a deposit on BNB Smart Chain is never credited as one on Ethereum.
When BNB Chain fits best
A strong fit when
- Your customers hold BNB or move BEP-20 tokens on BNB Smart Chain.
- You want an EVM chain with blocks in under a second and finality right after.
- You already run Ethereum and want another EVM chain with little extra work.
Also worth a look
- Polygon, another EVM chain with finality in seconds, if your customers are there.
- Ethereum or one of its layer twos, for tokens issued there.
How we get you live
Node access
We connect the module to BNB Smart Chain through your own node or a node provider such as Infura, Alchemy or QuickNode.
Custody and tokens
We check that your custody provider supports BNB Smart Chain and each BEP-20 token you list, by its contract address, or set up your own keys.
Finality rule
We set deposits to count once their block is final, read through the chain's 'finalized' block tag.
A testnet run
The whole flow runs on BNB Smart Chain's testnet, with test BNB from its faucet, before real funds move.
