Binance Smart Chain: explorer, major projects, developer training, prospects

Binance smart chain

Contents:

How to use Binance Smart Chain explorer

The blockchain explorer is the website bscscan.com, which displays following data in real-time: data on new blocks added to the chain, transactions conducted and waiting to be processed, balances on certain wallets, data on the platform’s native token (BNB).

In order to view a specific transaction, block, order, or wallet, you must enter their number/address in the search box at the top left of the site.

A summary of the most recent transactions is at the bottom right (Latest transactions). By default, 6 transactions are shown. To see more, click on View All. The type, age, transaction ID, block height, and addresses of the parties will also be available here.

The information about the blocks is in the lower left table. Additional data (height, age, node, commission, etc.) are also available in the in-depth view.

The Tokens menu displays data on the volume of transfers of different types of tokens and market statistics.

Major projects on the BSC

best bsc projects

Top 10 projects by transaction volume:

  1. Alpaca Finance. Turnover of $617.9 million. The first protocol for farming on BSC using credit funds. Users can act as lender, farmer, borrower, reward hunter, liquidator of risky positions. The main goal of the project is to make high yield farming available to ordinary users who cannot pay wild fees on the Ethereum network.
  2. Venus Protocol. Turnover of $212.9 million. Decentralized lending platform. Users lend and borrow cryptocurrency, mint and redeem VAI stablecoin, farm XVS token.
  3. Rabbit Finance. Turnover of $39 million. Thai cross-platform DeFi site. Staking, farming pools with up to 10x leverage are available. Users can become farmers, lenders or liquidators. The native token is RABBIT.
  4. 1inch Network BSC. Turnover of $29.8 million. The decentralized payments aggregator moved the base token 1inch to the BSC network in February 2021. The platform optimizes trading by automatically selecting exchanges for the specified currency pair.
  5. DFuture. Turnover of $20.2 million. Decentralized trading floor for derivatives. Thanks to the QCAMM protocol it has zero deal slippage, zero irrecoverable losses and great depth of transactions. Functions in Huobi Eco-Chain and BSC networks.
  6. DODO. Turnover of $14.4 million. Defi platform for selling, buying tokens and making money on liquidity. It works on Proactive Market Making (PMM) algorithm. The following products are available to users: Smart Trade, liquidity mining, crowd-pulling, farming.
  7. Ellipsis. Turnover of $12.1 million. A platform for trading stablecoins with low commissions and minimal slippage. It is an improved version of Curve. Control token – Ellipsis.
  8. Cream Finance. Turnover of $11.31 million. Multifunctional platform. Includes credit service based on Compound, a trading platform based on BalancerLabs. First operated on the Ethereum network, then moved to BSC. CREAM native token is traded on Binance.
  9. CryptoBlades. Turnover of $7.8 million. A financial NFT game. Users create unique weapons, hire heroes, and earn money fighting each other.
  10. Nerve Finance. Turnover of $7.7 million. Automated market maker for buying and selling stablecoins and BSC blockchain assets (including packaged ETH and BTC). Nerve Bridge allows you to transfer any amount of bitcoins and ether between networks with low fees and almost no restrictions.

Developer training

abstraction learning

Binance took care of developers and provided an extensive training and support system.

It includes:

  • development of dApps, code testing service, thematic blog;
  • integration of ready projects into Binance ecosystem (including Binance Wallet and Bridge), Open Source BSC Ecosystem;
  • active developer community on Telegram, Discord,
  • an accelerator fund with a budget of $100 mln for the best projects.

Almost all of the information in the tutorials and training services is in English. As soon as you learn the basics, start testing your knowledge, and consult with more experienced colleagues via messengers.

Binance Smart Chain prospects

According to analysts, BSC has little chance to overtake Ethereum. Larry Cermak sees the main reasons in the centralization that exceeds all the limits allowed for DeFi, the full funding of the blockchain by the exchange. Binance only managed to “hog the blanket” thanks to a cheap DeFi gambling platform, while the real decentralization doesn’t bother Binance bosses at all.

Sam Benkman-Fried, CEO of Alameda Research, calls BSC just a fork of Ethereum, not a new revolutionary blockchain. Developers have succeeded in creating competition in the DeFi space, but in order to beat the updated Ethereum, the network will have to meet all of the following characteristics:

  1. Have a large user base.
  2. Offer fast and cheap transactions.
  3. Be fully decentralized, developed, innovative.

Realization of the third point is probably impossible. Nevertheless, outpacing growth rate of the entire smart chain ecosystem will continue, while increasing the value of BNB’s native asset.