The way the world is stepping into the digital era by harnessing the power of blockchain and decentralized finance, every sector is getting transformed the way it works. Having a glance at the pace of digital transformation, it can be anticipated that the next generation is going to be way smarter with high-end technology.
To get along with blockchain technology there are numerous platforms, though the Binance Smart Chain blockchain platform is the most preferred blockchain by most developers.
Why Binance Smart Chain development is reliable for developing business projects lately is a matter of discussion here. Binance Smart Chain has done a tremendous job by becoming the favorite blockchain for any sort of modern business project which requires scalable digital solutions by offering diverse benefits for decentralized applications development.
Without any ado, let’s delve deeper!
Binance Smart Chain (BSC) is a public, permissionless blockchain, powered by Binance Coin (BNB) which is used to pay transaction fees and mint new blocks. BSC uses a unique consensus mechanism, called the Proof-of-Staked-Authority (PoSA) consensus mechanism.
Binance Smart Chain blockchain platform is designed to be EVM (Ethereum Virtual Machine) compatible. BSC produces a robust ecosystem for dApp development. BSC is a fast, scalable, and secure blockchain that is built for enterprise use cases.
One of the major reasons to incline towards BSC blockchain is :-
BSC overshadows Ethereum
Other compelling reasons :-
Every business plan is having the motive of maximizing profits which is a universally accepted fact. Thereby entrepreneurs keep searching for cost-effective options. Isn’t it? Interestingly, Binance Smart Chain is the blockchain that provides a scalable and high-performance platform with numerous features and services to go ahead with enterprise blockchain development.
The advantages and features that Binance Smart Chain caters to make it clear that it is a platform that modern businesses should be paying heed to.
Some of them are :-
BSC presently levies 4-7 Gwei of fess on average for transactions that are 5-8 times lesser than Ethereum.
BSC uses a unique combination of two older protocols namely- Delegated Proof of Stake and Proof of Authority, called the Proof-of-Staked-Authority (PoSA) consensus mechanism.
BSC ensures lightning-fast transactions with a speed of mere 3 seconds for the production of a block.
EVM stands for Ethereum Virtual Machine, BSC when made was on Ethereum’s base concept, even known for being a copy of the Ethereum blockchain, provides all those features of Ethereum and so is EVM compatible.
BSC is highly compatible with not only Ethereum but many other blockchain platforms which makes it easy to transfer assets from one platform to another.
Though BSC is working parallel to its parent chain, Binance Chain but is still an independent and stand-alone platform. The dual chain architecture makes it effortless to switch from the Binance chain to Binance Smart Chain.
BSC can manage more transactions as compared to Ethereum sometimes even reaching 10 million, this makes it an ideal option for enterprise projects that need high throughput.
BSC provides a highly secure platform to perform any sort of transaction or development with the leverage of smart contracts, this makes it more apt for enterprise use cases.
Binance Smart Chain can handle a maximum of 300 transactions per second (TPS) and hence is quite suitable for enterprise projects.
Binance Smart Chain Blockchain platform is indeed a well-known and reliable option among various blockchain platforms for enterprise blockchain projects when it comes to better security and compatibility.
To endorse more of Binance Smart Chain development, there is a vast variety of use cases such as fee discounts on Binance, paying transaction fees, making in-store payments, and many more.
Currently, there are around 1400 dApps on the Binance Smart Chain. This makes it more apparent that BSC is preferred for dApp development too. Some of the significant projects built on the Binance Smart Chain comprise PancakeSwap, BakerySwap, Venus Protocol, and so on.
To read more about these, click here.
Swipe was taken over by Binance in December 2021. An Ethereum and Binance Smart Chain-based ecosystem with native token SXP renders a Visa debit card facility with multi-asset support that allows conversion between the various supported cryptos. It was launched to improve the useability and utility of cryptocurrencies by offering several crypto-based services. Multi-currency wallets, issuance of customized debit cards or crypto debit cards, payments, and lending-borrowing, all these features are offered on the platform.
Even the Metaverse space is making use of Binance Smart Chain development with the NFTs and gaming zones developed that rely on BNB coins for any kind of transaction.
This is a play-to-earn game that is arguably the most renowned P2E game on Binance Smart Chain. It consumes the features of speed and efficiency to allow players to own and use their assets in the game, including the in-game characters and weapons, to earn an income by playing. As all the in-game assets are in the form of NFTs, owners have the power to trade them on the CryptoBlades marketplace.
This is another promising play-to-earn game on BSC. This game features a large number of NFT-based assets like land, tools, minions, avatars, and weapons which vary in their rarity, desirability, and utility. These can be both utilized and traded, while Alien Worlds’ in-game LAND assets can even be rented to other players becoming a source of passive income.
Binance Smart Chain is an ideal blockchain platform for the development of all sorts of enterprise blockchain projects and decentralized applications. The aforementioned features and use cases make it clear how innovations as well as newer applications are constructing their way by leveraging the BSC ecosystem.
At Antier, we have a team of certified blockchain experts and experience in cutting-edge technologies to render you with high-end platforms loaded with industry-leading features. Therefore, if you want to skyrocket your business growth with Binance Smart Chain development, we can assist you the best.
Without any delay, connect with our team of experts today!