With its quick transactions and low transaction costs, the BNB chain continues to dominate the industry.
BNB Chain Still Tops the Charts
Since its inception in September 2020, BNB Chain has become the most utilized chain in the industry. The chain boasts fast operations and low transaction costs and has recorded groundbreaking numbers in the crypto space.
Most recently, the chain crossed the 2.7 billion mark in terms of total transactions, showing many projects building on its ecosystem, and its vast popularity in the space. The platform announced the milestone on March 27 via Twitter. https://cdn.embedly.com/widgets/media.html?type=text%2Fhtml&key=96f1f04c5f4143bcb0f2e68c87d65feb&schema=twitter&url=https%3A//twitter.com/bnbchain/status/1508198425346686988&image=https%3A//abs.twimg.com/errors/logo46x38.png
BNB Chain topples other chains like Ethereum, Polygon, and Cronos in terms of transactions. Only the Ethereum chain comes close, with over 1.5 billion transactions. The large number of transactions can be attributed to the low transaction fee, which remains BNB Chain’s core feature. However, chains like Solana provides stiff competition with lower transaction fees. The average gas price for transactions on BNB Chain is 5 Gwei ($0.05). In contrast, Ethereum’s average gas fee is 31 Gwei ($2.17).
BNB Chain is committed to offering the community an open, decentralized, and permissionless infrastructure through the MetaFi concept. MetaFi is the evolution of the platform, which combines Decentralized Finance (DeFi) with Metaverse to create the world’s first parallel, virtual ecosystem. With the low transaction cost of building on the chain, BNB Chain may hit 3 billion transactions shortly.
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Source : bsc.news