The new user interface launched with some help from the data aggregation protocol that transformed the speed of their analytics.
A New Analytics UI
PancakeSwap announced on April 14th via their Medium page that they would be hosting a $150k reward for any team or developer who could provide them with an analytics dashboard for the PancakeSwap protocol. On June 15th, PancakeSwap reported on Twitter that a winner had been declared. That winner is StreamingFast, who was successful in building out a PancakeSwap analytics dashboard that successfully met all the requirements PancakeSwap was looking for.
The popular AMM platform had two major reasons behind their choice in solution. StreamingFast’s first attempt at syncing the Version 1 data launched at 57x the speed of the original. PancakeSwap is one of the largest decentralized exchanges (DEX) in the crypto industry, and the largest DEX by trade volume on the Binance Smart Chain (BSC). Since PancakeSwap launched V2, the PancakeSwap protocol now manages over a million daily transactions. The incredible jump in speed is tremendously important when handling such high transaction volume.
The second reason PancakeSwap chose StreamingFast as their winner is they felt StreamingFast provided the most powerful solution. StreamingFast has the ability to leverage one of their fundamental features, which is parallelized indexing (a powerful coding mechanism), offering re-indexing data from PancakeSwap V2 within half a day. There will be upcoming optimizations that will make this even quicker. What this means is PancakeSwap and StreamingFast can both be quicker fixing issues, and if needed, provide new features on the Analytics dashboard in order to meet new data needs.
What is StreamingFast?
StreamingFast is a data aggregation protocol for primarily the Ethereum network. The protocol also provides services for many other blockchains, including Binance Smart Chain. Instead of offering nodes as a service, StreamingFast offers a macro-scalable architecture for streaming data, designed specifically to meet the requirements of decentralized platforms inducing bridges, rollups, state mirroring, indexing services, and trading operations. Their solution allows developers to build responsive, easy to use interfaces that deliver top tier user experiences.
What is PancakeSwap?
PancakeSwap is the leading decentralized exchange on Binance Smart Chain, with the highest trading volumes in the market. PancakeSwap runs on Binance Smart Chain, a blockchain with much lower transaction costs than Ethereum or Bitcoin. Trading fees are lower than other top decentralized exchanges, and the protocol offers a secure place to farm yields thanks to their Syrup pools.
Closing Thoughts
The new partnership with StreamingFast looks to bring further value to the platform, as now users have free access to an analytics dashboard backed by PancakeSwap. The speed at which this data will be provided is a bonus to users, who will have swift access to beneficial metrics for trading purposes.
Source : bsc.news
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