Mapping out Binance Smart Chain's ecosystem

Quick Take

  • In September 2020, the Crypto exchange Binance launched an Ethereum-compatible blockchain, with its exchange token BNB as the native token
  • While Binance Smart Chain has made tradeoffs in that it is far more centralized than networks like Ethereum, it has used the demand for DeFi activity and the high fees environment to its advantage
  • Since Binance Smart Chain launched in September, The Block has identified 103 projects and companies across 13 different verticals currently expanding on its ecosystem
In September 2020, the Crypto exchange Binance launched an Ethereum-compatible blockchain, with its exchange token BNB as the native token. Like Ethereum, Binance Smart Chain (BSC) provides a smart contract platform for decentralized finance applications (DeFi). The rise and popularity of DeFi applications and demand for the Ethereum network have subsequently made it more costly […]

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