You may have heard of Ethereum Chain, which is optimized for faster trading. But, it’s not as flexible as other blockchains from a programmability standpoint. To change that, a new blockchain, Binance Smart Chain, comes with high-performance decentralized applications.
The best news is we’re getting on Binance Smart Chain. Our existing Ethereum chain will remain unchanged with the popular ERC-20 tokens. We introduce the Binance Smart Chain to make sure that our users get lesser transaction fees.
To run the Binance Smart Chain, we’re coming up with BEP-20 tokens with the same supply as the existing one. This way, we’re making UNOS available on various chains. Hopefully, you’ll be getting more valuable services from us.
What is Binance Smart Chain?
The Binance Chain Community introduces a new blockchain, the Binance Smart Chain (BSC), which runs with the original Binance Chain in parallel. It brings cross-chain compatibility, using an innovative algorithm called Proof of Staked Authority (PoSA).
In simple words, the Binance Smart Chain (BSC) is Binance’s smart contract platform that works with Binance Chain to enable the creation of smart contracts for tokens. It introduces a new staking mechanism for BNB, one of the top cryptocurrencies in the world.
Why We Use Binance Smart Chain
The Binance Smart Chain has already been a growing digital asset ecosystem all over the world. Millions of users are collaborating with it through many DeFi crypto projects. If you’re willing to use this blockchain over Ethereum, you should know why it’s better.
- Better Interoperability
The Binance Smart Chain comes with cross-chain DeFi mechanisms that allow users to transfer their assets from one blockchain to another with flexibility. It provides better interoperability to the users to get access to a vast ecosystem.
- Lower Transaction Fees
In terms of transaction fees, the Binance Smart Chain (BSC) is much more cost-effective than Ethereum. For a single transaction, Ethereum may cost over 100 dollars, while Binance Smart Chain charges as low as 1 cent.
- Faster Transactions
Since Binance Smart Chain is connected with the high-performance, low-latency Binance Chain, it requires shorter confirmation times and faster transactions. On the other hand, Ethereum has some scalability challenges that result in longer waiting times while being programmable.
- Token Name: UnoSwap
- Symbol: Unos
- Blockchain: Binance Smart Chain (BEP-20)
- Max Supply: 210,000
Distribution of Tokens
- Circulating Supply: 37%
- Staking and Farming: 25%
- Team: 12%
- Development: 10%
- Marketing: 15%
- Reserved: 1%
Binance Smart Chain is enhancing the functionality of the Binance Chain day by day. It features cutting-edge protocols to reduce the gap among various blockchains. That’s why it becomes an ideal platform for developers to build powerful decentralized applications.
Anyway, Binance Smart Chain provides stronger interoperability, cheaper transaction fees, and faster transactions than Ethereum. If you have any questions about Binance Smart Chain, you can ask our professionals or find information about the blockchain in the whitepaper.