AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |
Back to Blog
Binance chain4/16/2023 The BSC community made the network even more appealing to new users as a cost-effective and stable alternative, by lowering its gas fee from 15 Gwei to 10 Gwei to counter Binance Coin (BNB)’s insane price jump to over $300 in February. The aim of the platform is to enable developers to build decentralized applications (DApps) and help users manage their digital assets cross-chain with low latency and large capacity.īinance Smart Chain has made immense traction in early 2021 so far partly thanks to Ethereum’s congestion and gas fee issues, which has caused developers and staking investors to look for other options. BSC runs in parallel with Binance’s native Binance Chain (BC), which allows users to get the best of both worlds: the high transaction capacity of BC and the smart contract functionality of BSC.įurthermore, Binance Smart Chain also implements the Ethereum Virtual Machine (EVM), which allows it to run Ethereum-based applications like MetaMask. The market-leading mobile DApp Browser allows anyone with a smartphone to securely access DApps and DeFi protocols on Binance Smart Chain with just a few clicks.ĭownload Trust Wallet today and explore the Binance Smart Chain ecosystem.Binance Smart Chain is a new platform that aims to lower transaction costs and provide a space to create DApps and other DeFi products.īinance Smart Chain (BSC) is a blockchain network built for running smart contract-based applications. Gaming and gambling DApps have also found a home on Smart Chain, and the first NFTs appeared in early 2021 to provide BSC users with the same crypto collectible experience found on other chains.Īrguably, the easiest way to access the BSC ecosystem is using the Trust Wallet DApp Browser. But that does not mean Smart Chain is only for decentralized finance. While some DeFi protocols have migrated over to Smart Chain from other blockchain networks, dozens of Smart Chain-native DApps have emerged and experienced substantial user growth since their inceptions.ĭeFi protocols, such as PancakeSwap, Venus, and Autofarm, make up most of the activity on BSC. The same goes for ETH, XRP, DOGE, and many more.Īs a low-cost, high-speed alternative to Ethereum, backed by one of the largest crypto companies in the world, Smart Chain already boasts a wide range of DApps and DeFi apps on its chain. BTCB (BEP20) tokens can then be deployed in DeFi protocols to earn yield on bitcoin. What’s more, leading digital assets on other chains can be ported onto Binance Smart Chain in the form of pegged BEP20 tokens.įor example, you could use Binance Bridge to swap bitcoin (BTC) for BTCB (BEP20) tokens backed by BTC. BEP20 is a developer-friendly token standard that allows anyone to deploy fungible digital currencies or tokens on Binance Smart Chain. Launched in September 2020, Binance Smart Chain boasts a five-second block time, cross-chain asset transfers, EVM compatibility, and a Proof of Staked Authority consensus protocol to ensure scalability.īinance Smart Chain has a BEP20 token standard that functions similarly to Ethereum’s ERC20 standard. Binance Smart Chain exists to change that.īinance launched Smart Chain to provide a high-speed, low-cost alternative for the burgeoning decentralized finance (DeFi) market, which has suffered from Ethereum’s high transaction fees. While Binance Chain offers a high-throughput targeting active crypto trades, it lacks in the programmability department. Binance Smart Chain (BSC) is a smart contract-enabled parallel blockchain to Binance Chain that provides a permissionless platform for decentralized application (DApps).
0 Comments
Read More
Leave a Reply. |