10th Feb 20201 – Binance Smart Chain (BSC) surpassed the daily transaction volume of Ethereum by 30%.
BSC daily transaction volume is up by 300% from YTD and bolsters an ecosystem of 100+ DeFi projects. Furthermore, the platform has succeeded in maintaining GAS costs as low as $0.04. Compared to Ethereum’s $5.53, BSC is 135 times less expensive! (BSC transaction data here)
“We are thrilled to see in just six months since we officially launched Binance Smart Chain (BSC) that we have flipped Ethereum on daily transactions,” said Changpeng Zhao (CZ) CEO at Binance. “With low fees, faster network and interoperability between blockchains, we have been able to attract more users and projects. We will continue to work with the BSC community as well as our ‘Most Valuable Builder’ accelerator program to build more.”
Last week, Binance launched the Most Valuable Builder program to bolster the cryptopreneurial community and provide more support to builders innovating on the Binance Smart Chain (BSC). The program’s main aim is to help BSC-based startups create real-life innovations, gain industry exposure, receive funding, accelerate community and business growth.
To-date, BSC supports 42 cryptocurrencies across the chain to BSC, the total value of cross-chain assets has reached $1.37 billion, and the total market value of Binance BTokens has reached $1.8 billion.
With transaction fees that are a fraction of the cost on the Ethereum network, as well as connectivity with various other blockchains, BSC has attracted many blockchain projects, which drove the number of daily transactions on the BSC network to more than 1.66 million as of February 10, a new record and a figure that surpasses Ethereum’s transaction numbers by 30%.
There are now $4.2 billion worth of digital assets, called BEP-20 tokens, that use BSC. The recent market movement mainly points to the willingness of blockchain users to increasingly go for Ethereum alternatives, and BSC’s attributes and growing popularity have played a key role in the BNB rally.