What is Binance Smart Chain?
Binance Smart Chain, also widely known as BSC in the Crypto World, is a dual-chain architecture that empowers its users to build decentralized apps and digital assets on it to take advantage of almost instantaneous trading with minimum fees across Decentralized Exchanges (DEX).
Why go towards BSC and what does this mean for developers?
You’ve probably heard of Binance Chain, the home of the BNB currency. It’s optimized for ultra-fast trading. To achieve this, it had to make certain trade-offs — one being that it wasn’t as flexible from a programmability standpoint as other blockchains.
Binance Smart Chain is here to change that: a new blockchain with a fully-fledged environment for developing high-performance decentralized applications with minimal gas fees. It was built for cross-chain compatibility with Binance Chain to ensure that users get the best of both worlds.
Binance Smart Chain [BSC] is best described as a blockchain that runs in parallel to Binance Chain. Unlike Binance Chain, BSC boasts smart contract functionality and compatibility with the Ethereum Virtual Machine [EVM]. The goal was to keep the high-performance output of the Binance Chain intact while introducing smart contracts into its ecosystem.
Because BSC is EVM-compatible it launched with support for the rich universe of Ethereum tools and DApps, which In theory makes it easy for developers to port their projects over from Ethereum to BSC, in order to take advantage of minimal fees & almost instantaneous transactions.
How DAO1 plans on expanding
DAO1 is making huge improvements in order to make the community more involved and future-proof. As you know there have been talks of moving liquidity from SafeSwap to BSC. By doing so, we can see improved volume, quantity, and improved quality of market outreach because BSC is more frequently used and the most popular chain currently. This change would be a catalyst for the potential of DAO1 and decentralize it further — and expand its community across the globe even further.
Very soon a DAO1 Governance Voting will take place
Voting will be about taking out the liquidity from SafeSwap and using it to onboard DAO1 on Binance Smart Chain [BSC].
What’s more?
Something huge and exciting will be coming soon as well. Stay tuned for more DAO1 news & announcements!
Meanwhile, you can get familiar with the Voting System using the Governance Protocol.
Don’t forget to join the DAO1 Telegram Channel for more updates and latest news.
DAO1 Team
Link to Our Previous Posts:
Introduction to DAO1
Guide on how to vote using Governance
Join our social media channels and be a part of our journey:
Learn more about DAO1
Follow us on: Twitter | Reddit| LinkedIn | Instagram
Join the DAO1 Community on Telegram
DAO1 Announcements on Telegram
