To facilitate the mission to bring millions of people onboard Web3 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 BNB Chain.
BNB Chain 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, BNB Chain had over 58,000,000 unique wallets created. Since February 2021, the BNB Chain network has been handling over 2 million transactions per day while Ethereum is handling only 1.2 million daily transactions. BNBChain 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 BNBChain to expand their ecosystem.
With a ~5 second block time and a Proof-of-Authority (PoA) consensus mechanism, BNB Chain enables high-speed transactions that only cost network participants a few cents. Some of the benefits of BNB Chain including but not limited to:
A rich and growing digital asset ecosystem powered by Binance
Cheap transaction fees
High performance with a network capable of producing a block every 5 seconds
A growing ecosystem of millions of users across Binance.com and BNB Chain Ecosystem
A network of major blockchain projects already collaborating with BNB Chain
Sharing the same vision on Web3 onboarding, the integration of ShopNEXT app on BNB Chain will bring another real-life use case into Web3.