So hey guys, I am back and will be talking about Binance today. A great platform for everything, I can say which offers everything trading, deploying, smart contracts everything that Ethereum and its community could offer us.
Basically starting with something that everyone understands and that is trading. Binance offers us centralized and decentralized exchanges and they are one of the biggest market players (Wazirx is also owned by Binance itself). Pancisakeswap is a decentralized exchange, biggest market cap after Uniswap (Ethereum Dex).
Now, let us jump to the technical part, which is on-chain things. Binance owns a blockchain in the name of Binance Smart chain and they are layer1 solution just like Ethereum and also offers EVM where people can deploy their codes of Solidity and can run things just like Eth. mainnet. They are one of the biggest competitors of etherum and can do approx 1000 transactions in a second. Lots of tokens now prefer Binance smart chain because of Etherum gas fees issues and lot of other things.
Dapps basically needs more scalable solutions as Etherum being very slow, can let them loose their customers and no one wants a bad user experience nowadays. Everyone feels sick and bored if your transaction is taking 5-10 min to happen (In such a fast-moving life) that’s why Binance could be a great solution for developers.
A great thing for developers is that can easily shift their solidity code from Ethereum chain to Binance easily, they get an edge for exploring multiple chains with just a single coding language (Solidity) .
Binance-BNB(3rd in market cap)
–>Comes with lower gas fees.
–>Offers both Central and Decentral exchange.