Advantages of Binance Smart Chain (BSC)

Low Transaction

Fee Transaction Fee, also known as Gas Fee, is the fee that users are required to pay when transacting on blockchain. This fee will be awarded to the miners or validators for verifying that the blockchain is logged and processes the transaction correctly. The vast majority of DeFi applications involve transactions, and there is a fee associated in every process. Therefore, the blockchain fee is an important factor to consider choosing a blockchain network to make a transaction with a blockchain network. Nonetheless, Binance Smart Chain (BSC) blockchain fee is significantly cheaper than Ethereum.

Fast Transaction

Transactions on blockchain require a certain amount of validation before the transaction is completed. The reason for confirmation is to avoid the risk of double payment. The longer the confirmation time requires, the more transaction time it takes. Therefore, avoiding unnecessary delay in transactions is another major factor that has to be taken into consideration when choosing a blockchain network. Binance Smart Chain (BSC) is created to increase transaction speed, higher efficiency and low latency but it is designed to support smart contracts and increase scalability on high-traffic blockchain. So it can adjust the use of smart contracts to be more intuitive to create decentralized applications (DApp) that can handle a large number of transactions. Binance Smart Chain (BSC) is compatible with smart contracts for decentralized applications and able to connect to Binance Chain to provide faster confirmation time and higher transaction processing speed.