Binance Smart Chain is a blockchain network that is derived from Binance and operates alongside the Binance Chain, which is used to create decentralized apps. Unlike the Binance Chain, however, it supports smart contract functionality and has compatibility with the Ethereum Virtual Machine (EVM). Overall, the BSC network allowed for the development of smart contracts while also ensuring high throughput and scalability.
Although the BSC network's foundation resembles that of the Ethereum blockchain, it offers several distinct advantages over it, which makes it a perfect match for the development of EMBR. The BSC's additional features aid the EMBR in achieving strategic advantages.
BSC is interoperable with Ethereum and other blockchains, which allows it to achieve complete compatibility with them. As a result, DeFi projects developed on the Binance Chain such as EMBR can easily communicate with other blockchains, reducing complexities and allowing for the development of more cross-blockchain projects.
BSC's consensus mechanism is PoS, which has higher throughput than PoW. Because EMBR is a CeDeFi project with a focus on Launchpad, it requires a very fast and reliable network which can process hundreds of transactions every second. This is why the BSC is a blockchain of choice.
Transaction fees are low
One of the biggest pain points for users is high transaction fees, which are sometimes unavoidable with existing blockchain networks. Exchange protocols require low fee transactions because otherwise, they will become extremely expensive for their users.
By leveraging the Binance Smart Chain's PoS consensus mechanism, EMBR ensures high throughput to enhance the scalability while reducing transaction costs.
Increase in Users
The increased popularity of the blockchain has prompted a rise in the number of users using BSC. The Binance Smart Chain is a blockchain network that can be easily used by all types of users, from those who are new to cryptocurrencies and exchanges to experienced investors.
This increase in the number of users has led to increased popularity for DEXs as well, which has made it easier for crypto investments. This rise in cryptocurrency market participation will increase the liquidity of BSC, which will be an invaluable asset for EMBR as well.
All these benefits of the Binance Chain and EMBR, combined with strong synergy and shared goals, make it an ideal candidate for a collaborative development process. That said, we also acknowledge that any blockchain ecosystem has room to improve and we plan on actively contributing to all blockchains we expand to in the future.