Learn more about BNB Beacon Chain, BNB Smart Chain, and the Binance ecosystem

The Binance ecosystem uses the BNB Chain to support its smart contract tokens. Find out all you need to know about BNB and the other BEP2 and BEP20 tokens you will find inside your Exodus wallet.

In this article:

What kind of blockchain is BNB Chain?

The BNB Chain has a dual blockchain structure formed from the BNB Beacon Chain (BNB network) and the BNB Smart Chain (BSC network). Both blockchains operate independently of each other and have different features and functions.

BNB Beacon Chain (formerly known as Binance Chain) is used for sending and receiving BNB and digital assets based on the BEP2 token standard. BNB Beacon Chain addresses start with "bnb...".

BNB Smart Chain (BSC) (formerly known as Binance Smart Chain) is also used for sending and receiving BNB and digital assets. However, these assets are based on the BEP20 token standard.

BSC is compatible with the Ethereum Virtual Machine (EVM) so it shares the same address format as Ethereum (ETH) addresses (0x...). This makes it possible to accidentally send BEP20 tokens to an Ethereum receiving address, as they share the same address format.

Learn how to recover unsupported BEP20 and BEP2 tokens sent to your Exodus wallet.

What kind of token is BNB?

BNB is the utility token that powers the BNB Chain ecosystem. It is generally used for paying network transaction fees (gas) and as a way of reducing trading fees on Binance. BNB used to be known as Binance Coin but is now BNB (BNB).

Originally, Binance released BNB as an ERC20 token running on the Ethereum (ETH) network. However, after the Binance team created their own mainnet blockchain anyone with ERC20 BNB tokens could swap these on Binance for native BNB. Learn more about how to swap ERC20 BNB for native BNB.

In the Binance ecosystem, and in your Exodus wallet, BNB exists on the Beacon Chain BEP2 network and on the Smart Chain BEP20 network.

What BEP2 tokens can you use in your wallet?

Within the Beacon Chain ecosystem, all tokens have to comply with the BEP2 standard which is a set of rules for token management. These BEP2 assets use BNB the same way an ERC20 asset uses ETH. Small amounts of BNB are used to fuel each transaction on the Beacon Chain.

In your wallet you can store, send and receive these Beacon Chain tokens:

BNB (BNB) The utility token of the Beacon Chain, also used to pay BEP2 token transaction fees (gas).
Binance USD (BUSD) The BEP2 version of the USD-backed stablecoin.
Thorchain (RUNEBNB) The BEP2 version of the native token of the Thorchain ecosystem.

Thorchain (RUNEBNB) is migrating to mainnet. A killswitch to end support for non-native coins activates at block height 6500000. RUNEBNB will begin losing its value once the killswitch is activated. Exchange to another asset or upgrade your RUNEBNB to the mainnet to prevent loss of value. Contact support if you need assistance.

What BEP20 tokens can you use in your wallet?

The BSC ecosystem manages tokens using the BEP20 standard. Like on the BNB Beacon Chain, you need to use a little BSC BNB to fuel each BEP20 transaction on BSC. In your wallet you can store, send and receive these BSC tokens:

BNB (BSC BNB) The utility token of BSC, also used to pay BEP20 token transaction fees (gas)
Binance USD (BUSD) The USD-backed stablecoin as a BEP20 token
USD Coin (USDC) The BEP20 version of the digital dollar stablecoin
PancakeSwap (CAKE) CAKE powers the PancakeSwap ecosystem
Shiba Inu (SHIB) The decentralized meme token on BSC
Baby Doge (BABYDOGE) The lovechild of the original meme token DogeCoin
MoBox (MBOX) The utility token of the Mobox metaverse
STEPN (GMT) The governance token of the STEPN Web3 lifestyle app
Project Galaxy (GAL) The token for Web3 projects creating digital credentials and NFTs
Green Satoshi Token (GST) The utility token for repairing, upgrading, and minting STEPN NFTs
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