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Our Blockchain Platform
To facilitate the mission to bring millions of people onboard crypto we need a public blockchain that can possess the following characteristics: fast so that the transaction finality must be fast enough without any congestions, cheap so that micropayment transactions can happen and a big ecosystem so that our users can interact with many other projects smoothly. And after thorough research, we have decided to deploy ShopNEXT on top of the Binance Smart Chain (BSC).
Binance Smart Chain (BSC) is a new smart contract-enabled blockchain that has been growing exponentially with the support of Binance, the world's largest and most popular exchange. Within nine months of its mainnet launch, Binance Smart Chain had over 58,000,000 unique wallets created. Since February 2021, the BSC network has been handling over 2 million transactions per day while Ethereum is handling only 1.2 million daily transactions. BSC was built to be Ethereum Virtual Machine (EVM) compatible to provide developers with the ability to seamlessly deploy DApps built for Ethereum on Binance’s new blockchain. As a result, many blockchain projects like SushiSwap, 1 Inch, Cream Finance, and many more, which were originally built on Ethereum, are partly migrating to BSC to expand their ecosystem.
With a ~5 second block time and a Proof-of-Authority (PoA) consensus mechanism, BSC enables high-speed transactions that only cost network participants a few cents. Some of the benefits of Binance Smart Chain including but not limited to:
- A rich and growing digital asset ecosystem powered by Binance
- Cheap transaction fees that reach as low as 1 cent
- High performance with a network capable of producing a block every 5 seconds
- A growing ecosystem of millions of users across Binance.com and Binance DEX
- A network of major crypto projects already collaborating with BSC
But we are not limiting ShopNEXT to just one blockchain. The future of crypto is inevitably a multi-chain ecosystem. As such, our tech team will keep researching for more public blockchain solutions like Solana, Polkadot, etc. to expand our ecosystem and bring more benefits to ShopNEXT users.
Last modified 9mo ago
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