1.0. Benefits of Binance Smart Chain (BSC) :-

BSC is based on an entirely new hybrid consensus derived from a combination of Delegated 'Proof-of-Stake' and 'Proof-of-Authority'. This means that trusted validated validators, 21 in total, are involved in the functioning of the blockchain. So, on the one hand, by introducing reputation, the network becomes more centralized, but on the other hand, users approach transaction validation with more responsibility. In addition, this approach reduces security problems to zero.

 

Network transaction fees are low, usually less than one cent. An interaction with a smart contract involving multiple transactions can exceed a dollar. Comparatively, a simple Ethereum transaction can cost as much as $30.

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The gap between blocks in BSC is quite small: they are generated every 3 seconds. Accordingly, transactions are confirmed during this time. The bandwidth of the network is also higher than that of Ethereum, which allows including more transactions in the blocks.

To the end-user, this will look like almost instant transfers.

 

Finally, a huge advantage of Binance Smart Chain is the ecosystem built around Binance. Binance.com and Binance DEX have millions of users, and hundreds of cryptocurrency projects have already been created based on BSC. In addition, Binance Coin, a network fee coin and one of the main tokens of the ecosystem, is popular on exchanges and of high interest to crypto farmers.

 

2.0. What it means to Forsage?

  • For Forsage users, the new blockchain is an opportunity to further expand their knowledge of cryptocurrency. Community members already understand Ethereum and Tron, and Binance Smart Chain is just at the peak of its popularity.

  • From a technical point of view, BSC provides fast transactions without high fees. That is faster and cheaper than ETH and TRX.

  • Finally, in economic terms, Binance Smart Chain and its tokens are also interesting as a promising cryptocurrency asset.