While Ethereum has continued to be widely used, many developers and consumers shifted to other platforms in order to reduce fees. Transactions on the BNB Smart Chain process swiftly and with low gas costs. Users had to move from ETH network to some other network to reduce their gas fee, and one fine day CZ, founder of Binance announced the launch of Binance Smart chain. For a simple SWAP, users had to pay 200 to 300USD in gas fee. Transactions were delayed as a result of the congestion, and gas costs increased. The biggest and the most decentralised smart contract blockchain of all time, Ethereum, was experiencing severe network congestion back in 2021. On Binance Smart Chain, developers can create non-fungible tokens, make blockchain games, and produce decentralized apps, among other things and all of these uses BNB as a token to pay for the gas feeĭid you know the growth of ETH ecosystem created a lot of demand for BNB? Let me explain. It has played a crucial part in the development of the BNB Smart Chain. It is also the default token for Binance Smart Chain. The fact that Binance and Binance US exchanges recognize BNB as their official cryptocurrency sets it unique. What distinguishes BNB from other Crypto Exchange tokens? Binance has also launched a new feature called Auto-Invest 3.0. Auto-Invest 3.0 allows users to automatically invest in cryptocurrency on a recurring basis.Binance has launched a new product called Binance Sensei. Binance Sensei is an AI-powered Web3 mentor that can help users learn about the crypto industry.It ranks #7 as per the latest trading volume.
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