The proprietary blockchain from Binance Smart Chain sets new records for the number of transactions within the network. Binance Smart Chain recorded more than 14.5 million transactions on Tuesday, an all-time record of any blockchain.
This record was 12% more than the previous record, which was also set by Binance Smart Chain. According to Sami Karim, coordinator of the Binance Smart Chain ecosystem, daily transactions through the BSC network have exceeded more than 10 million transactions per day over the past 14 days.
Binance Smart Chain can rest on its laurels, as the blockchain has the largest number of transactions with the lowest possible fees.
Also, the blockchain prevails over the Ethereum blockchain, since its in-network fees are tens or even hundreds of times less. The record volume of transactions in the Binance Smart Chain network is more than 12 times greater than the daily volume of transactions through the Ethereum network, where about a million transactions per day have been collected over the past week.
At the moment, the total commission for transactions through the Binance Smart Chain network is about $800 million, while the total amount of commissions for transactions through the Ethereum network is more than $12 billion.
Many holders and traders choose the BSC network, as it is much more profitable and cheaper. Binance Smart Chain has become a really popular ecosystem for many traders, as well as a real godsend for decentralized applications.
At the moment, more than 800 applications are running on this network, such as PancakeSwap and Alpha Finance. Binance Smart Chain is indeed a very strong competitor to Ethereum, at the moment the demand for this blockchain far exceeds the demand for ERC20.
Binance has created a prize fund of more than $1 billion for developers who will create tokens developed on their blockchain.
People choose this blockchain because of its low fees, and if ethereum does not release its ethereum 2.0 update with a reduction in fees, then BEP20 will dominate for many years.
However, do not forget about other blockchains, which are also popular, since their commissions are also quite low, such as TRC20, Cardano, and Solana.
