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Why Projects Are Switching to the Binance Smart Chain

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Despite the popularity of the Ethereum blockchain, several developers believe the blockchain network is slowly becoming outdated as more and more projects shift their bases to alternative blockchain networks. What caused this gradual shift was Ethereum’s slow transaction rate and high gas fees.

The slow transactions and high gas fees of the Ethereum Network were caused by network congestion. Ethereum Network works on a Proof of Work protocol and is slowly moving towards Proof of Work protocol. The current algorithm, however, is not capable of handling the present number of transactions coming its way. As a result, transactions remain pending, and the transaction speed decreases while gas fees increase.

Luckily, the crypto ecosystem is a safe haven for advancements and innovation. Binance, which started as a crypto exchange, developed its own blockchain, Binance Smart Chain, that has quickly become the go-to blockchain network for developers.

Binance Smart Chain, the Fastest Growing Blockchain

Binance Smart Chain was launched in September 2020 and now hosts several projects and is quickly growing to become the biggest blockchain network. It is designed to run parallel to the existing and native Binance Blockchain. These simultaneously running blockchains help bring smart contract functionality to the network without compromising the speed of the mainnet.

Binance Smart Chain was developed explicitly to solve Ethereum’s rising gas fees and offers faster, scalable, and cheaper transactions. In the past, several alternative blockchains have tried to become ‘Ethereum Killers’ but couldn’t succeed in capturing new project’s interest.

However, Binance Smart Chain is hosting numerous blockchain, Defi, and crypto projects. One of these projects includes an up-and-coming Sphynx which aims to provide an all-in-one solution for trading, staking, farming, and holding. Sphynx uses Binance Smart Chain to enable fast, cheap and secure transactions and offer cross-chain interoperability within the ecosystem.

What separates Binance Smart Chain from other “Ethereum Killers” is its Proof of Staked Authority consensus algorithm that creates an ideal balance between decentralization and high performance. The potential of PoSA can be hinted at by the fact that BSC only has 21 validators compared to Ethereum’s 11,000 nodes.

Moreover, BNB has set aside $100 million for projects that commit to building on BSC, like its parent company’s Binance Launchpad. Apart from this, Binance also offers various features such as Binance Wallet, Explorer, Testnet Faucet, and IDE.

The dual-chain architecture of Binance Smart Chain empowers its users to build decentralized apps on a single blockchain while taking advantage of the fast trading services of other blockchains.

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Source: https://www.newsbtc.com/news/company/why-projects-are-switching-to-the-binance-smart-chain/

Blockchain

iBG Finance

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Nyoko

4 days to go before our weekly lottery! Have a chance to win 10k iBG tokens. 😱
Stay tuned and be updated.

To buy @ibgfinanceofficial tokens 👇👇👇
💎 Uniswap (ERC20): https://bit.ly/3D3Ls9n
💎 Pancakeswap (BEP20): https://bit.ly/3A3Vsxq

✨ Disclaimer: iBG Tokens are not for sale to USA and North America Tax Residents.

#DeFinitelyiBG #Crypto $iBG #WeeklyLottery

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Source: https://medium.com/@djiv.allen06/ibg-finance-501edfe5ccc2?source=rss——cryptocurrency-5

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Blockchain

How to Buy SSTX through PancakeSwap

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Silver Stonks

Hello Silver Stonkers! Here you will find a tutorial on how to buy SSTX on PancakeSwap with minimal slippage fees using a computer or Android device. You should use a computer if you do not have a device running Android.

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Source: https://medium.com/@silverstonksteam/how-to-buy-sstx-through-pancakeswap-534af9182c58?source=rss——cryptocurrency-5

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Blockchain

PayPal’s Peter Thiel Wishes He Had Bought More BTC

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Peter Thiel feels he underestimated bitcoin. The world’s number one digital currency by market cap recently hit a new all-time high of approximately $66,000, though the asset is now down by a few thousand and trading for just over $62,000.

Peter Thiel Wishes He Had Invested More in BTC

Either way, Thiel implied in a recent interview that he wishes he had gotten more involved with the cryptocurrency and added more units to his portfolio, and he thinks the opportunity to take advantage of the asset may be gone. He commented:

I feel like I’ve been underinvested in it. Maybe it still is enough of a secret. I think the answers are still to go long.

Thiel is a libertarian and the founder of PayPal. This is ironic given that the digital payment platform has arguably been more serious about bitcoin than Thiel has. About a year ago, the company announced that it was going to allow customers to not only hold digital currencies in their PayPal accounts, but they could also pay for goods and services through the platform with crypto.

This got the digital currency community hopping like mad, and the price of bitcoin rose to $13,000 per unit, which back then, was somewhat impressive. By today’s standards, however, the currency has grown nearly five times that, so $13K doesn’t seem like much anymore.

This has both its good and bad sides. During a separate interview, Thiel discussed that he thinks bitcoin may be overbought at $60,000+. At the same time, he says it is a bad sign for central banks, and that the standard financial procedures America and other regions across the globe have gotten used to may come crashing down soon.

Could Standard Banks Soon Be a Thing of the Past?

Discussing financial protocols in the United States, he said that the entire system may soon be stuck adhering to bitcoin, and that individuals may find themselves looking at it more given the honesty behind it and the fact that inflation continues to occur. He states:

I don’t know that you should put all your money into bitcoin at $60,000 a bitcoin right now, but surely the fact that it is at $60,000 is an extremely hopeful sign. It’s the canary in the coal mine. It’s the most honest market we have in the country, and it’s telling us that this decrepit… regime is about to blow up.

The attitude towards bitcoin that we’re witnessing today – where it’s being viewed as something of a hedge tool that can keep one’s wealth stable and steady during times of economic strife – began about a year and a half ago when the coronavirus pandemic first began to take hold of the global economy. Many governments began printing money like mad to offer individuals stimulus funds so they could remain afloat. This is largely believed to have begun the inflationary waves we’re now seeing.

Tags: bitcoin, PayPal, Peter Thiel
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Source: https://www.livebitcoinnews.com/paypals-peter-thiel-wishes-he-had-bought-more-btc/

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