On 21 April, the Binance Smart Chain (BSC) network registered a new daily transaction record of 9.13 million. This is almost six times higher than the corresponding figure for the Ethereum blockchain.
At the same time, in the second-largest cryptocurrency by market capitalization, a daily record for the number of transactions was also observed. Users performed 1.56 million transfers.
It outpaced Ethereum in 24-hour transactions, and the largest project built on BSC, PancakeSwap, reached 2 million transactions on April 20.
Over the last 24 hours:
Only the #PancakeSwap router = 2M transactions
The whole of Ethereum yesterday = 1.55M transactions
The craziest part? Looks like things are just getting started. pic.twitter.com/acZcTiMoqk
— PancakeSwap 🥞 #BSC (@PancakeSwap) April 21, 2021
After PancakeSwap’s leaders by the volume of locked funds among DeFi protocols, experts diverged in their assessments of real activity on BSC.
According to DeBank, the total value of locked assets on decentralized platforms based on BSC is about $15.7 billion, while in Ethereum network protocols — $53.45 billion.
The main BSC network was launched in September 2020 as an alternative environment for deploying decentralized applications and DeFi services, offering lower fees than Ethereum.
Earlier, Messari analyst Ryan Watkins explained the advantages of BSC over its rival as the magic of centralisation, rather than technological innovations.
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