Hello to my friends who love life and always smile despite all kinds of negativity. In my previous article, I told you about Ethereum and Ethereum-based DEFI. Thank you all for your great interest. In this article, I would like to talk about Ethereum's biggest competitor, Binance Smart Chain (BSC), and how Binance sets an example for other exchanges.
So what is Binance Smart Chain (BSC)?
It is a network that works in harmony with the Ethereum Virtual Machine (EVM). It can support Ethereum-based applications. Binance Smart Chain; It works with the Proof-of-Staked Authority (PoSA) algorithm.
Binance, the largest exchange in the cryptocurrency markets, set up its own network due to the terrible levels of transaction fees and delays in the ethereum network. Purpose of this; everyone can implement their projects cheaply with their own blockchain technology.
Has this goal been achieved… ? Yes
Most of the projects on the Ethereum network started building their BSC network versions. Every day, dozens of projects are implemented in the BSC network.
This success of the Binance Smart Chain network; It helped the Binance exchange's BNB cryptocurrency appreciate.
These developments aroused the appetite of other stock markets. Exchanges such as Gate exchange and Crypto.com continue to work to implement their own blockchains. I'm sure we will talk a lot about these two exchanges in the next Bullish trend. As of now, the token of the gate.io exchange is GT 3$, and the crypto.com exchange's token CRO is 0.125$. Two examples to invest for the future… You should follow…
Source by bscscan.com
Binance Smart Chain (BSC) went live in September 2020. Initially total transactions 175.229. BNB price is $23. Currently the total transactions price is 3.392.174 .BNB at $303. Total transactions in Bullish 11.838.329
Binance is supporting the growing DEFI with BSC. Binance Smart Chain (BSC), which enables transactions in a shorter time with less transaction fees compared to Ethereum, can be used in many different DeFi platforms.
What a good example in the BSC network; It is PancakeSwap (CAKE). In my opinion it is the best alternative to UNISWAP on the Ethereum network.
Uniswap TVL $5 billion.
PancakeSwap TVL $7.3 billion
Total locked value (TVL) on pancakeSwap is $7.3 billion, on Uniswap it is $5 billion.
My last words as I finish my article; Binance Smart Chain (BSC) enables projects to move faster in the development of cryptocurrency markets. It provides funds by opening its projects to small investors. Thanks to the PancakeSwap (CAKE) platform, small investors can receive any amount of cryptocurrencies they want for projects with very affordable transaction fees. We've heard so many stories about the bull rise. With 10$-50$, some projects brought X100 – X1000 to their investors. I suggest you follow the projects published on the BSC network…
Important Notice: Do not think about making long-term investments, get your earnings and look at other projects...
As I always say, listen to everyone, decide for yourself...
Buy when everyone is selling, sell when everyone is buying...
I'm looking forward to your comments. Thanks to your comments, we can shape my next articles together. Let's stay in touch... Take care of yourself so that you and the people around you will be happy...
