I'M FREQUENTLY ASKED THE QUESTION:

Why BSC?

Over the past 3 years, the Ethereum blockchain has had quite a few really powerful competitors. For example, BSC, Polygon, Avalanche, Fantom, Cronos, Solana and so on.

And only one of them was able to catch up and in some ways even surpass Ethereum - BNB Smart Chain (BSC).

BNB Smart Chain outperforms Ethereum in many key ways:
• By the number of unique addresses (246 million vs. 221 million)
• By the number of active addresses (865 thousand vs. 400 thousand)
• By the number of daily transactions (2,8 million vs. 1 million)

💸 Why is BNB Smart Chain so different from other Ethereum competitors?

If you think about it, other smart contract blockchain platforms are just as good as BNB Smart Chain. For example, if you use the DeFi ecosystem of Polygon or Avalanche, you will get everything that is the same as in BNB Smart Chain.

What is the uniqueness of this blockchain then?

Community and brand strength play a huge role in the success of BSC.

Many people ignore these criteria when reviewing projects. People pay more attention to technology, decentralization and transaction speed. Although it is not as important as the community and the brand.

⚖️ Here is an example:

What do you associate the Avalanche, Fantom and Cronos blockchains with?

Most likely with nothing. These are just large platforms for smart contracts. Only advanced users know their backstory and command.

While BSC is the blockchain of the largest crypto exchange Binance with a huge ecosystem and community.

📝 To summarize:

Warren Buffett popularized the term "Economic Moat" in the 80s. It is used to describe a company's competitive advantage.

Examples of economic moats: network effect, brand strength, cost advantage, ecosystem value, unique technology, access to a scarce resource, efficient scaling.

BSC has many of them: network effect (huge community), brand strength (Binance), cost advantage (low fees), cool ecosystem.

Try using economic moats in project analysis in addition to other research tools - this will greatly simplify the selection of projects.