2020 has been a year full of news for the crypto world. And one of the most important was, without a doubt, the launch of the Binance Smart Chain, Binance’s Blockchain with which it intends to compete with Ethereum in the sector of smart contracts. A feat that seems to be achievable, because just a few months after its launch, the Binance Smart Chain is on its way to surpass Ethereum, as Changpeng Zhao comments in the Tweet of the day:
Binance Smart Chain is heading to the top
Beyond Bitcoin, the most important sector for the world of cryptocurrencies is, without a doubt, that of smart contracts. And it is that, Blockchain technology opens the doors to dozens of uses for smart contracts. Which can be used by any type of organization, ranging from logistics to decentralized finance (DeFi).
Therefore, it is not surprising that one of the most important companies in the crypto world, such as Binance, wants to enter this sector. Launching with this objective the Binance Smart Chain, a Blockchain designed by the company to compete directly with Ethereum. Guaranteeing its users a transaction speed and lower commissions than ETH.
The Binance Smart Chain is on track to surpass Ethereum in the number of daily transactions. Source: BSC Scan
Thanks to this, in a very short time the Binance Smart Chain seems to be heading to achieve what not even rivals like TRON have been able to. Establishing an ecosystem of decentralized applications that is competition for Ethereum. Having already managed to reach a third of the daily trading volume carried out on ETH, as Changpeng Zhao commented in the Tweet of the day:
“Meanwhile, BSC is slowly reaching 30-40% of ETH volume. Low fees matter!”
Although it is still only a fraction of the size of the Ethereum Blockchain. Having reached between 30% and 40% of the ETH trading volume in such a short time is a very good sign for the future of the Binance Smart Chain. Which is already consolidated as one of the most important Blockchains in the world.
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