Binance Chain has become more attractive to DApps developers

by in Blockchain News

Binance Chain

Researchers from the DappRadar team have found that Binance Chain is becoming increasingly attractive to dApps developers.

In this regard, the network already competes directly with Ethereum, which traditionally holds the lead among platforms used to launch applications.

Decentralized Exchange (DEX) PancakeSwap, which uses the resources of the Binance blockchain, bypassed UniSwap in terms of user activity. The number of active addresses on these trading platforms is now 47.4 million and 43.7 million, respectively.

At the same time, the researchers immediately noted that the number of users is smaller since each of them can control several wallets.

Trending: ProShares Bitcoin Futures ETF Will Start Trading on Oct. 18

Autofarm and Goose Finance are among the ten most popular apps by DappRadar. These services are deployed on the Binance Chain.

Note that the Binance exchange started its blockchain in September last year. Currently, this network processes an average of 2.642 million transactions per day.

It is compatible with Ethereum applications, while transactions on the Binance Chain network are significantly cheaper.

Trending: Salvadorans are against buying bitcoins at the expense of the budget

The underlying asset is the Binance Coin (BNB) token. In early February 2021, it was trading at $ 45, now BNB is holding around $ 230. The coin is in the top three largest digital currencies.