BNB Beacon Chain FAQ
What is BNB Beacon Chain and Binance DEX?
BNB Beacon Chain is the blockchain initially developed by Binance and community. Binance DEX, which is disabled now, is the decentralized exchange module developed on top of the BNB Beacon Chain blockchain.
What is the design principle of BNB Beacon Chain?
The main focuses for the design of BNB Beacon Chain are:
- No custody of funds: traders maintain control of their private keys and funds.
- High performance: low latency, high throughput for a large user base, and high liquidity trading. We target to achieve 1 second block times, with 1 confirmation finality.
- Low cost: in both fees and liquidity cost.
- Easy user experience: super user friendly UI for a better experience.
- Fair trading: minimize front-running, to the extent possible.
- Evolvable: able to develop with forever-improving technology stack, architecture, and ideas.
What can you do on BNB Beacon Chain?
You can:
- Send and receive BNB
- Issue new tokens
- Send, receive, burn/mint and freeze/unfreeze tokens
Will BNB Beacon Chain introduce more features and transaction types in the future?
Yes, BNB Beacon Chain team and community would cherish the technology advancements and recommended trends and strive to make circulation of assets and value easier and easier.
What is the native coin on BNB Beacon Chain?
BNB is the native asset on BNB Beacon Chain. There are 200M BNB coins in total. There will be no mining. The existing coin burns and freezes will still be in effect on the new BNB Beacon Chain blockchain.
The exact number of BNB coins will be destroyed based on the same number of BNB ERC20 tokens that have already been destroyed.
Since BNB Beacon Chain is live, all BNB ERC20 tokens will be swapped for BNB Beacon Chain coins. All users who hold BNB ERC20 tokens can deposit them to Binance.com, and upon withdrawal, the new BNB Beacon Chain native coins will be sent to their new wallets.
What is the current Fee Table on BNB Beacon Chain Mainnet?
Fees are variable and may change over time as governance proposals are proposed and voted on. The current fees table for Mainnet as of 2021-03-21 is as follows:
| Transaction Type | Pay in Non-BNB Asset | Pay in BNB | Exchange (DEX) Related |
|---|---|---|---|
| New Order | 0 | 0 | Y |
| Cancel (No Fill) | Equivalent 0.00005 BNB | 0.00001 BNB | Y |
| Order Expire (No Fill) | Equivalent 0.00005 BNB | 0.00001 BNB | Y |
| IOC (No Fill) | Equivalent 0.00025 BNB | 0.000005 BNB | Y |
| Transfer | N/A | 0.000075 BNB | N |
| crossTransferOut | N/A | 0.000075 BNB | N |
| Multi-send | N/A | 0.00006 BNB | N |
| Issue Asset | N/A | 10 BNB | |
| Mint Asset | N/A | 0.002 BNB | N |
| Transfer ownership | N/A | 0.002 BNB | N |
| Burn Asset | N/A | 0.002 BNB | N |
| Freeze/Unfreeze Asset | N/A | 0.001 BNB | N |
| Lock/unlock/relock Asset | N/A | 0.002 BNB | N |
| List Asset | N/A | 200 BNB | N |
| Submit Proposal | N/A | 1 BNB | N |
| Deposit | N/A | 0.000125 BNB | N |
| Enable Memo Check | N/A | 0.2 BNB | N |
| Disable Memo Check | N/A | 0.2 BNB | N |
| HTLT | N/A | 0.000075 BNB | N |
| depositHTLT | N/A | 0.000075 BNB | N |
| claimHTLT | N/A | 0.000075 BNB | N |
| refundHTLT | N/A | 0.000075 BNB | N |
| refundHTLT | N/A | 0.000075 BNB | N |
| TinyIssueFee | N/A | 0.4 BNB | N |
| MiniIssueFee | N/A | 0.6 BNB | N |
| SetTokenUri | N/A | 0.000075 BNB | N |
| List BEP8 Token | N/A | 1 BNB | N |
| Create A New Smart Chain Validator | N/A | 2 BNB | N |
| Edit Smart Chain Validator Information | N/A | 0.2 BNB | N |
| Delegate Smart Chain Validator | N/A | 0.0002 BNB | N |
| Redelegate Smart Chain Validator | N/A | 0.0006 BNB | N |
| Undelegate Smart Chain Validator | N/A | 0.0004 BNB | N |
| Unjail A Smart Chain Validator | N/A | 0.5 BNB | N |
| Submit Byzaitine Behavior Evidence of A Smart Chain Validator | N/A | 0.5 BNB | N |
| Submit Smart Chain Proposal | N/A | 1 BNB | N |
| Smart Chain Proposal Deposit | N/A | 0.00025 BNB | N |
| Smart Chain Proposal Vote | N/A | 0 BNB | N |
| Cross transfer out relayer reward | N/A | 0.0004 BNB | N |
What is the current Fee Table on BNB Beacon Chain Testnet?
Fees are variable and may change over time as governance proposals are proposed and voted on. The current fees table for Testnet as of 2021-03-17 is as follows:
| Transaction Type | Pay in Non-BNB Asset | Pay in BNB | Exchange (DEX) Related |
|---|---|---|---|
| New Order | 0 | 0 | Y |
| Cancel (No Fill) | Equivalent 0.00005 BNB | 0.00001 BNB | Y |
| Order Expire (No Fill) | Equivalent 0.00005 BNB | 0.00001 BNB | Y |
| IOC (No Fill) | Equivalent 0.00025 BNB | 0.000005 BNB | Y |
| Transfer | N/A | 0.000075 BNB | N |
| crossTransferOut | N/A | 0.000075 BNB | N |
| Multi-send | N/A | 0.00006 BNB | N |
| Issue Asset | N/A | 10 BNB | |
| Mint Asset | N/A | 0.002 BNB | N |
| Transfer ownership | N/A | 0.002 BNB | N |
| Burn Asset | N/A | 0.002 BNB | N |
| Freeze/Unfreeze Asset | N/A | 0.001 BNB | N |
| Lock/unlock/relock Asset | N/A | 0.002 BNB | N |
| List Asset | N/A | 200 BNB | N |
| Submit Proposal | N/A | 1 BNB | N |
| Deposit | N/A | 0.000125 BNB | N |
| Enable Memo Check | N/A | 0.2 BNB | N |
| Disable Memo Check | N/A | 0.2 BNB | N |
| HTLT | N/A | 0.000075 BNB | N |
| depositHTLT | N/A | 0.000075 BNB | N |
| claimHTLT | N/A | 0.000075 BNB | N |
| refundHTLT | N/A | 0.000075 BNB | N |
| refundHTLT | N/A | 0.000075 BNB | N |
| TinyIssueFee | N/A | 0.4 BNB | N |
| MiniIssueFee | N/A | 0.6 BNB | N |
| SetTokenUri | N/A | 0.000075 BNB | N |
| List BEP8 Token | N/A | 1 BNB | N |
| Create A New Smart Chain Validator | N/A | 2 BNB | N |
| Edit Smart Chain Validator Information | N/A | 0.2 BNB | N |
| Delegate Smart Chain Validator | N/A | 0.0002 BNB | N |
| Redelegate Smart Chain Validator | N/A | 0.0006 BNB | N |
| Undelegate Smart Chain Validator | N/A | 0.0004 BNB | N |
| Unjail A Smart Chain Validator | N/A | 0.5 BNB | N |
| Submit Byzaitine Behavior Evidence of A Smart Chain Validator | N/A | 0.5 BNB | N |
| Submit Smart Chain Proposal | N/A | 1 BNB | N |
| Smart Chain Proposal Deposit | N/A | 0.00025 BNB | N |
| Smart Chain Proposal Vote | N/A | 0 BNB | N |
| Cross transfer out relayer reward | N/A | 0.0004 BNB | N |
Can I see balances of others or can other people see my balances?
Yes, anyone can see anyone's balances if they know the corresponding addresses. BNB Beacon Chain is 100% transparent for transactions and balances.
Information provided through API and their usage
Is there any limit to using the API to send orders or check market data?
Yes, there are rate limits to ensure there is no waste or abuse of the network infrastructure.
Please check the API documentation.
What does Wallet and API cost to use?
No fee or commission at all (free to use).
I forgot the private key for my address, how can I get it back?
Sorry, you cannot. Owner of the address takes full responsibility for the private key protection. BNB Beacon Chain and official wallets do not have your private key.
My private key got stolen by hackers, how can I recover my assets?
Sorry, you take full responsibility of your private key ownership and protection. BNB Beacon Chain and official wallets will not record, or transfer out your private key.
What is the Accelerated Node?
While users can submit transactions and most of the queries via normal, self-run full nodes.
Accelerated Node provides more secure and faster lines to access BNB Beacon Chain.
Accelerated Node is special infrastructure built around Validator to facilitate accelerated transaction
routing and provide richer, faster user interfaces. There are always several Accelerated Nodes running
at the same time around the world (owned by different organizations) and you are encouraged to choose
one of them to use, or allow your Wallet choose one randomly.
For rapid API access, you'd better stay with one Accelerated Node to get better performance.
How can I issue an asset?
Anyone can pay a fee and issue an asset as Token on BNB Beacon Chain, as long as they provide proper information for the fields below, and then execute the command through the command line or http interfaces.
- Name: a description string of less than 21 characters
- Symbol: an identifier string less than 9 characters, which must be composed of [0-9A-Z]
- Total Supply: a positive number less than or equal to 90 billions
- Mint-able: whether the token can increase Total Supply in later time or not
What is the consensus algorithm used on BNB Beacon Chain?
BNB Beacon Chain uses BFT and PoS (upcoming) based consensus mechanism to produce blocks among a series of qualified Validators. This is similar to the architectures of several existing popular blockchain platforms such as EOS and NEO. The process for setting up validators among different entities on BNB Beacon Chain is currently being defined. More details will be shared at a later date.
Can I run a full node for BNB Beacon Chain?
Yes, you can. A full node contains all the information and application logic for BNB Beacon Chain. It can receive and broadcast blocks and transactions with other full nodes and even validators. The only exception is it will not participate in the consensus if the full node is not a Validator.
Does BNB Beacon Chain support Smart Contracts?
No. This was an intentional design decision to improve the performance of the system and eliminate having to support unnecessary features.
If you have certain must-have feature-s, it might be added as a native implementation instead of using smart contract.
Feel free to talk to BNB Chain community.
How can I transfer tokens, such as Bitcoin, from other blockchains onto BNB Beacon Chain?
Right now, there are 2 ways to transfer tokens cross-chain:
- via interoperability among different chains. After the latest “Archimedes” upgrade, BEP3 was introduced and it defines native transactions to support Hash Timelock Contract (HTLC) on BNB Beacon Chain and it also to defines the infrastructure standard and procedure to use HTLC for inter-chain atomic swap to easily swap tokens on different chains. BNB Beacon Chain development community has finished implementing its solution for BEP3 with BEP2 and ERC20 tokens and decided to open-source all of the key components, including：
- smart-contract solution that supports Atomic Peg Swap (APS) for Ethereum. Please note that this solution is already audited by 3rd party.
- deputy process written in GoLang that handles swap activities
Any developer is welcome to test the solutions in testnet and then use them in mainnet.
- via Binance.com. Binance,the largest cryptocurrency exchange, has issued a number of crypto-pegged tokens on BNB Beacon Chain (BEP2 token format): BEP2 Bitcoin, BEP2 BCH,BEP2 XRP, BEP2 LTC. Pegged tokens such as BEP2 Bitcoin, are 100% backed by the native coin in reserve. The reserve addresses are published for anyone to audit. Read this blog to learn about the reserved address. Users are free to convert between native and BEP2 Bitcoin via deposit/withdrawal. This has a higher degree of ease-of-use for most traders. More swap channels will be provided on partner wallets soon.
Atomic swap and this centralized approach are not exclusive to other decentralized approaches, which can also be implemented in parallel. There are many cross-chain solutions being developed and we are very interested in them.
Please do NOT try to transfer anything on existing network to BNB Beacon Chain testnet, you may experience loss by doing so, because testnet doesn't run with real coins.
How would a third-party integrate with BNB Beacon Chain and Binance DEX?
A wallet provider may choose to support the feature set of BNB Beacon Chain, which would cover wallets, addresses, balances, transfers and etc.
How to prevent the occurrence of unconfirmed transactions on BNB Beacon Chain?
Due to possible network congestion around UTC 00:00, it is advisable to perform transaction after UTC 01:00. For fast BNB Beacon Chain connectivity, please switch to endpoints: https://dataseed1.defibit.io/, https://dataseed1.ninicoin.io:443.