Binance Smart Chain Rising in Popularity

[Cz Rock]

Transaction fees on Ethereum are getting particularly high. Gas costs escalate as users flood the DeFi markets in search of high yields and the “next 100x gem on Uniswap.”

This has led to the notion that DeFi is only profitable for traders with more money as the transaction fees chop away profits and make it quite challenging to get a sizeable return if users don’t invest a large sum of money. This has had its fair share of community effects, and one project that’s benefitted is the Binance Smart Chain – a network that is exploding in popularity over the past couple of months. And, perhaps, rightly so.

Transaction fees on BSC are negligently low compared to those on Ethereum. The average transaction would cost cents, and they are also settled almost instantly.

A quick look into BSCScan shows that the average Gas price on the network for February 15th is around 16.6 Gwei.

Still, the total number of addresses on BSC is nowhere near these on Ethereum, which is to be expected, given the fact that ETH’s network has a few-years’ lead and remains the most widely used one in the industry. Span from a different angle, though, this could also mean that BSC still has plenty of room for future growth.

Binance Smart Chain Unique Addresses Triple in a Week as Investors Seek Cheaper Ethereum Alternatives
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