BSC is currently one of the fastest smart contract platforms, contributing to its fast growth. Blocks are generated every 3 secondscompared to Ethereum’s 13 seconds, making it at least four times faster.
Low Gas Fees
It currently costs an average of 5 Gwei to process a transaction on BSC, which is far cheaper than the 40 Gwei charged on Ethereum. That is an 8x cheaper price tag to run a dApp on BSC than running the same app on Ethereum.
Not only is BSC compatible with Ethereum virtual machine (EVM), it also supports pegged coins from several other blockchains allowing users to create several tokens to use on the network. Cross-chain compatibility increases token liquidity, utility, and value.
Choosing to fork the Geth Ethereum client makes BSC more familiar to Solidity developers, which gives the Binance network easy access to an already vibrant community of developers and users. Additionally, since it’s cheaper to run dApps on BSC, it makes it easy to port applications over from Ethereum, which is faster and cheaper to execute.
Credible Platform and CompanyBinance is one of the most popular exchanges, and its credibility is shared across all its platforms, including the BSC. The exchange also plays an important role in the PoSA consensus by vetting all validators on the network, ensuring that the blockchain is secure and reliable.