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Technology
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BinanceMetrics
Overview
Pros
Cons
Metrics
LanguagesMove
Chain typeEVM
Marketcap90B USD
Ecosystems12+ Projects
Overview
Binance Smart Chain (BSC) is a blockchain network built for running smart contract-based applications. 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.Furthermore, Binance Smart Chain also implements the Ethereum Virtual Machine (EVM), which allows it to run Ethereum-based applications like MetaMask.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.Binance 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. 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.
Pros
Cheap transactions and low fee fluctuationsLow cost of transactions and on-chain operations is definitely the decisive factor that drives developers and users to migrate from Ethereum and other smart blockchains to the BSC.
Faster adoption ratesThis is a consequence of centralization, as Binance ensures the platform’s stability and development. 
Cross-chain capabilities.Binance Bridge technology allows tokens from the most popular blockchains to be moved to BSC. 
AccessibilityBinance’s online resources are available in 16 languages, making it much easier to work with all the tools and services within the ecosystem, including Binance Smart Chain.Cons
Potential centralisation risksBSC is largely a centralized system, with Binance providing the primary support. Transactions are handled by 21 validators who are re-elected daily. Have aproject idea?
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