Understanding Validators, Gas, and Fees in BNB Smart Chain

In this video, we explore how validators operate on the BNB Smart Chain and dive into the concepts of gas and transaction fees.

Validators in BNB Smart Chain

BNB Smart Chain uses a Proof of Staked Authority (PoSA) consensus mechanism. In this system, validators are selected based on the amount of BNB tokens they have staked. The more BNB a participant locks up (stakes), the more likely they are to be chosen as a validator.

Key points:

• Validators are responsible for creating new blocks and adding them to the blockchain.
• In return, they receive rewards in the form of BNB.
• Validators play a critical role in maintaining the security, accuracy, and integrity of the network by ensuring that only valid transactions are confirmed.

Number of Validators

• The BNB Smart Chain initially launched with 29 validators.
• It has since expanded to support up to 50 validators, with 29 active validators producing blocks at any given time.
• In future updates, this number is expected to grow to 41 active validators, and a total pool of 80 to 100 candidates.
• The active validators are chosen from the top-ranking candidates—those with the highest amount of bonded (staked) tokens.

This structure helps maintain network security and decentralization, as it prioritizes participants who have demonstrated commitment by staking a significant amount of BNB.

You can track the current number of active validators, bonded token amounts, and validator voting power via the official BNB Smart Chain validator monitoring page or similar dashboards.

Gas and Fees

Gas Fee = Gas × Gas Price

This formula determines the total cost of executing a transaction or smart contract on the blockchain.

What is Gas?

• Gas is a unit that measures how much computational effort is required to perform operations such as transactions or smart contract executions.
• The more complex the operation, the more gas it will require.

What is Gas Price?

• Gas Price refers to how much you're willing to pay per unit of gas.
• It fluctuates based on network demand—when the network is congested, gas prices typically rise.

Why Do Gas Fees Matter?

• Gas fees are paid in BNB, the native cryptocurrency of the BNB Smart Chain.
• These fees go toward:
• Compensating validators for processing transactions.
• Maintaining network security.
• Discouraging spam transactions by introducing a cost to every interaction.

Some blockchains burn a portion of the gas fee, while others redistribute it entirely to validators—BNB Smart Chain can support both models depending on its protocol updates.

Summary

In this video, we covered:

• The role and selection of validators in the BNB Smart Chain.
• How staking and validator rankings influence block production.
• The formula and logic behind gas and transaction fees.
• The significance of gas for network operation, cost fairness, and scalability.