Thu. Jun 20th, 2024

Understanding binance Smart Chain

Binance Smart Chain (BSC) is a blockchain platform developed by the popular exchange.site’>cryptocurrency exchange, Binance. It is designed to run parallel to the existing Binance Chain and offers a fast and low-cost blockchain infrastructure for decentralized applications (dApps) and digital assets. BSC uses a proof-of-staked-authority (PoSA) consensus mechanism, which combines Proof of Stake (PoS) and Byzantine Fault Tolerance (BFT) protocols.

Changing to Binance Smart Chain on metamask

To switch to Binance Smart Chain on Metamask, follow these steps:

  1. Open the Metamask extension and click on the network dropdown.
  2. Select “Custom RPC.”
  3. Enter the following details:
    • Network Name: Binance Smart Chain
    • New RPC URL: https://bsc-dataseed.binance.org/
    • Chain ID: 56
    • Symbol: BNB
    • Block Explorer URL: https://bscscan.com/
  4. Click “Save” to add the Binance Smart Chain network. You can now switch between ethereum and Binance Smart Chain using the network dropdown.

Connecting Metamask to Binance Chain

If you want to connect Metamask to the Binance Chain, you can follow these steps:

  1. Open the Metamask extension and click on the network dropdown.
  2. Select “Custom RPC.”
  3. Enter the following details:
    • Network Name: Binance Chain
    • New RPC URL: https://bsc-dataseed1.binance.org/
    • Chain ID: 56
    • Symbol: BNB
    • Block Explorer URL: https://explorer.binance.org/
  4. Click “Save” to add the Binance Chain network. You can now switch between Ethereum and Binance Chain using the network dropdown.

Moving Assets from Trust wallet to Binance Smart Chain

To transfer assets from Trust Wallet to Binance Smart Chain, follow these steps:

  1. Open Trust Wallet and select the asset you want to transfer.
  2. Click on the “Send” button.
  3. Enter your Binance Smart Chain wallet address in the recipient address field.
  4. Double-check the address and enter the amount you wish to transfer.
  5. Review the transaction details and confirm the transfer.

Using Binance bridge with Trust Wallet

Binance Bridge allows users to transfer assets between different blockchain networks. To use Binance Bridge with Trust Wallet, follow these steps:

  1. Open Trust Wallet and navigate to the Binance Bridge website.
  2. Connect your Trust Wallet by clicking on the “Connect Wallet” button.
  3. Select the asset you want to transfer and enter the recipient’s address.
  4. Review the transaction details and confirm the transfer.
  5. Wait for the transaction to be processed on both blockchains.

Conclusion

By following the steps outlined in this guide, you can easily connect your Metamask or Trust Wallet to the Binance Smart Chain. This opens up a world of opportunities to explore decentralized applications and leverage the benefits of the Binance ecosystem. Remember to exercise caution when transferring assets and always double-check addresses to ensure their accuracy. Happy trading and exploring on Binance Smart Chain!

By admin