Binance Chain was launched by Binance in April 2019. Its primary focus is to
facilitate fast, decentralized (or non-custodial) trading.
Binance Smart Chain (BSC) is best described as a blockchain that runs in
parallel to the Binance Chain. Unlike Binance Chain, BSC boasts smart contract
functionality and compatibility with the Ethereum Virtual Machine (EVM).
The design goal here was to leave the high throughput of Binance Chain intact
while introducing smart contracts into its ecosystem.