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Binance Smart Chain

What is the Binance Smart Chain

binance smart chain development

Unlike Binance’s original “Binance Chain,” the system is called “Binance Smart Chain” according to its latest white paper, and features the Smart contract functionality that Ethereum is known for.

Features are as follows:

  • Virtual Machine (EVM) compatibility, support for all existing Ethereum tools and lower transaction fees.
  • Native double-chain interoperability allows cross-chain communication and can extend high-performance dApps.
  • DPOS (Delegated Proof of Stake) based on 21 verification nodes will provide decentralized power and promote large community participation.

BSC can be described as a parallel blockchain to BC. Unlike the Binance Chain, BSC has smart contract functionality and is compatible with the Ethereum Virtual Machine (EVM). The design goal here is to maintain the high throughput of the entire cryptocurrency chain while introducing smart contracts into its ecosystem.

Essentially both blockchains are parallel. It is important to note that BSC is not a so-called layer 2 or out-of-chain scalability solution on BC. It’s a separate blockchain that works even after the Binance Chain goes offline. From a design perspective, the two chains are very similar.

Because BSC is compatible with EVM, it supports Ethereum tools and dApps. In theory, this makes it easy for developers to port their projects from Ethereum. For users, this means that they can easily configure an application such as MetaMask to work with the BSC with just a few adjustments. Check out the Binance smart chain using MetaMask to start setting up.

What is a smart contract on MLM?

Multi-level Marketing (MLM) ,also known as network Marketing or Referral Marketing, has been popular among companies (offering MLM programs ) and users ( participating in these programs ), owing to the huge earning potential that it offers. 

Smart Contract on MLM means multi-level marketing business that runs on principles of smart contracts. MLM business strategy is integrated with blockchain-powered smart contract functionality which makes MLM an efficient marketing model. 

Smart contracts on MLM have changed people’s perception about MLM marketing strategy. It has attracted a considerable number of users on its platform through its feature of improved trust-ability and transparency in the working. 

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Six must-known BSC metrics

BSC Yield Farms

Yield mining (also known as "liquidity mining") is a method of continuing to generate digital currency from currently held digital currency. Through a platform like Pancakeswap, you can reap benefits in the Binance Smart Chain. As we see in the next metric, BSC charges extremely low fees, making it ideal for participants with small digital currency holdings to enter the yield mine and make reasonable gains with the small amount of digital currency available.

BSC Average Gas Price

The fees charged by BSC are extremely low: 1 GWEI is equal to 10^-9 or 0.000000001 BNBs. In fact, sending hundred or even thousand coins would not cost more than a few cents. Looking at transaction history, we can see that some transactions paid more than that. That is because some users still did it with Ethereum or other tools, which is really not necessary.
The BSC is far from congested and the gas bill of 20 Gwei is sufficient to meet demand.

BSC Unique Address Account

How to estimate the number of users in the blockchain? A good place to start is with the Unique Address. Does this mean that there are 100 Unique addresses for every 100 Unique users on the blockchain? Absolutely not, anyone can create multiple addresses! We know that anyone can create multiple addresses, so this metric is a higher estimate than the actual situation. Still, the number of unique addresses gives us an idea of the growth of Internet users.

BSC Daily Transactions

While some smart contracts require more transactions to be executed, the charts shows total number of transactions will gives us an idea of what is going on on the network. BSCScan can also help us figure out the day with the highest transaction volume to date.

Top Bep-20 Tokens

The popular BEP-20 tokens can be tracked by market capitalization or daily transaction volume through the Token Tracker page. Based on this data, we will know which tokens on the BSC have the highest cumulative market capitalization and the highest trading volume.

BSC Validators

Validators are the people who keep the BSC running. With Staking, they can process the transaction and identify new Blocks.
The platform allows verifiers to earn transaction fees through their online activities in return for their high quality and accurate service.

Why Choose Darqtec For Smart Contract Development On BSC

24*7 customer support

Cost-effective service provider

Multiple payment gateways

Readily available customization