The Binance Smart Chain protocols appeal to different spaces of the market.
Binance Smart Chain Proving Fertile Ground For Innovation
CryptoBlades and PancakeSwap are the top two decentralized Applications (dApps) in terms of total users. CryptoBlades currently has over 380,000 users while PancakeSwap comes in second with nearly 267,000 users. Project user base totals recorded by Dapp Radar showed the totals over a week period.
Binance Smart Chain (BSC) is proving an incredible testing ground for prospective Decentralized Finance (DeFi) projects and teams are not shying away from admitting it.
“Low gas fees, reliability, stable and popular currency (BNB), and developer support.” This was the response of the CryptoBlades team in a spotlight interview with BSC Matthew in June, when asked about why they decided to build on BSC.
“We have been impressed while working on Binance Smart Chain due to the responsiveness of their support, their willingness to give project creators a chance to be adopted on a wide market, and their continued ability to bring more users onto the chain,” the team continued.
The recent rise of NFT gaming has seen CryptoBlades garner huge interest and propel itself to the summit of most used dApps. With PancakeSwap paying such close attention to optimising efficiency and adjusting farming rewards, they too have continued to reap the benefits.
GameFi Making Strides Forward
Along with Axie Infinity, CryptoBlades has benefitted from the trending Non-Fungible-Token (NFT) gaming market. Gaming projects attract an audience that is unique to their offerings. Combining gaming with blockchain technology allows players play-to-earn opportunities.
How PancakeSwap Has Grown
PancakeSwap has grown their user base in a variety of ways. Their protocol has been forked by many BSC projects which indicates the quality of the code.
The Decentralized Exchange (DEX) offers a variety of products which have increased their user base potential. These include token swapping, yield farming, and Automated Market Maker (AMM) functionality.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.