Binance Smart Chain (BSC)

The Soaring Cost of Ethereum

If you are a Ethereum enthusiast, you are no doubt delighted with the soaring price of Ethereum. However, a consequence of this price rise is the resulting impact on the Gas prices for Ethereum smart contracts.

It’s hard to overstate the impact of the rising Gas costs to send ETH nowadays. The cost to process a simple Uniswap transfer has skyrocketed well into the double digits in line with ETH’s bull run. Even a simple transfer from one wallet to another will set you back nearly $10. Gas fees are likely a major factor in traders moving to other chains with cloned DeFi offerings.

The Case for Binance Smart Chain (BSC)

The Binance Smart Chain has grown enormously, especially in the last few months. The BSC basically works exactly like the Ethereum Blockchain and is also compatible with it. However, transactions can be carried out much faster and cheaper on the Binance Smart Chain.

Although the Ethereum blockchain can be considered the most popular chain for smart contracts, other alternatives are emerging to satisfy the same needs. The Binance Smart Chain allows for DEX's to continue to exist and it is faster and cheaper.