GetBlock recaps what is going on in the Binance Smart Chain ecosystem. Which projects are in the top league right now?
Binance Smart Chain, a mainstream EVM-compatible smart contracts network, was in the spotlight in 2021. It cemented itself as a go-to platform for early-stage dApps deployment due to low fees and familiar development experience.
Binance Smart Chain APIs: PancakeSwap leads the way
Image by Dappradar
The protocol siphoned the liquidity from Uniswap promoting itself as its low-fee and resource-efficient alternative. At its core, it is an instrument for the seamless peer-to-peer exchange of BSC-based assets and ‘yield farming’, i.e. the process of rewards earning for providing liquidity to the platform.
Everyone can add his/her asset to PancakeSwap and launch a liquidity pool for it in BNB or WBNB pairs. As such, it is an exchange of choice for the teams with low budgets.
Users choose PancakeSwap over its competitors since it offers more profitable ‘yield farming’ programs and doesn’t suffer from exorbitant Ethereum’s fees.
Binance Smart Chain APIs: GameFi revolution
However, as displayed above. 4 out of 5 top decentralized applications on BSC (by the number of active wallets interacted with the smart contracts of this or that dApp at least once in the last 30 days).
Powered by native BSC-based asset BCOIN, Bomb Crypto game closely resembles Nintendo’s games of the 90s. Players manage a group of bomb heroes who fight monsters and earn BCOIN for their activity.
The second Live Play-to-Earn environment is way more sophisticated: it demonstrates an immersive metaverse inspired by 2010s online game Second Life. Its gameplay boasts exhibitions, dance floors, shopping malls, workplaces, and so on.
MOBOX NFT Farmer works at the intersection between GameFi and the NFT segment. Even with zero expertise in blockchain, cryptocurrency, and software development, crypto enthusiasts can mint characters as NFTs and integrate them into economic strategy.
X World Games brings marvelous anime aesthetics into the red-hot segment of gaming NFTs. Its native token XWG is a backbone element of its tokenomics.
Binance Smart Chain APIs: Most dangerous competitors
However, Binance Smart Chain meets 2022 de-throned: it is no longer #1 competitor of Ethereum. Terra blockchain with its native token LUNA surpassed BSC by the total volume of crypto assets locked in all dApps.
Image by Defi Llama
Surprisingly, Terra managed to accomplish this milestone with only 17 active protocols. Besides Terra, Binance Smart Chain has two rapidly growing competitive blockchains, Avalanche (AVAX) and Solana (SOL).
However, by the number of active protocols, Binance Smart Chain (BSC) still remains the second to Ethereum with 279 working dApps.
Binance Smart Chain APIs: Book your flight to the moon with GetBlock
GetBlock, a top-notch blockchain APIs provider, is a world-leading vendor of Binance Smart Chain (BSC) endpoints. GetBlock offers shared and dedicated nodes of Binance Smart Chain: applications can be deployed in a matter of hours.
Our users can experiment with light, full, and archive nodes of the Binance Smart Chain. In 2021, we proudly integrated them into a number of dApps; your DeFi or Play-to-Earn might be the next to join the club!