Until the launch of the Binance Smart Chain in September 2020, many decentralised exchanges relied on the Ethereum network for transaction processing among other functionalities. This resulted in an overburdening of the network, leading to congestion, high transaction fees and slow transaction speed.
The development of the BSC infrastructure stemmed from the need to provide a faster network that is far less expensive than Ethereum. The Binance team aimed to improve the freedom of money by building a holistic community-driven ecosystem where assets flow freely based on users’ needs.
Since the creation of the BSC platform, numerous DEXES are leveraging its advantages to provide better services to users. As of writing, the Binance Smart Chain has nearly $27 billion locked in the numerous applications that exist on the network and below are the major reasons why DEXES are jumping ship to join the BSC network.
Lower Transaction Costs
Transaction costs and network operations are the major determinants that prompt