Trophee now offers cross-blockchain support across Ethereum and Binance Smart Chain. This guide briefly explains the differences between these blockchains.
Official Website: ethereum.org
Ethereum is a decentralized, open-source blockchain with smart contract functionality launched in 2015.
Ether is the native currency of the Ethereum network and it’s commonly abbreviated to ETH, which is its ticker symbol. Ethereum, like Bitcoin, currently uses a proof-of-work mining model. In proof-of-work, miners are decentralized computers that use their computing power to process and confirm transactions. In Ethereum, new transactions get added in "blocks" every 15 seconds. Miners are a built-in mechanism of the Ethereum blockchain and get paid in ETH.
ETH is used to pay transaction fees (known as gas fees) on the Ethereum blockchain. Trophee has no say in setting gas fees - they are determined by supply/demand and fluctuate according to network usage.
Binance Smart Chain
Official Website: www.bnbchain.world
In 2017, Binance and BNB were born. Three years later, Binance Smart Chain (BSC) was introduced to the world. As Binance grew bigger and stronger, so did Binance Smart Chain. BSC was born in time for the DeFi revolution, as the public showed increased interest in alternative financial solutions and use cases powered by blockchain. From today, Binance Chain and Binance Smart Chain (BSC) become BNB Chain.
BNB (formerly known as Binance Coin) stands for “Build and Build.” Along with “fueling” transactions on BNB Chain (similar to gas on Ethereum), BNB also acts as a governance token. Holding BNB gives you the right to make your voice heard and is necessary to participate in BNB Chain’s decentralized on-chain governance. With this name change also comes more advancements to benefit users, projects and developers connected to the BNB Chain community.