Binance Smart Chain - Here to Stay
With the sudden huge demand for Binance Smart Chain (BSC), the amount of development on the project has been huge - and it has been rapid. Although Ethereum hit ATH in recent days, transactions on BSC have actually exceeded transactions on Ethereum completely - transactions on pancakeswap.finance alone actually exceeded transactions on the Ethereum network.
With BSC growing exponentially daily, it will soon be a much larger eco-system than Ethereum currently is. ETH 2.0 is coming, and EIP-1559 will be implemented in July, these will help Ethereum - but EIP-1559 will not reduce fees to BSC level, and ETH 2.0 is still some time away.
In this time BSC is developing a community that is growing at completely unforeseen rates. There are projects being developed at never before seen rates, there are coins and tokens being minted at unforeseen rates and there is a sense of financial freedom.
But, Centralized?
Yes, it's centralized, yes, it's controlled by Binance - but they have no interest in causing any harm or performing any "centralized" stunts as the entire BSC eco-system is massive marketing for Binance. They reduced the fees as the price of BNB increased and continue to keep BSC the cheapest, working utility network around. This is something that they can do unlike Ethereum - a benefit of being a centralized network.
There would be no logic in Binance causing harm to BSC - the network is the biggest success of the company, they have outdone Ethereum in many ways. People don't mind a certain level of centralization. Those that do, can stick to Ethereum and deal with the fees - but those who don't mind so much are flocking to BSC like no one could have ever imagined.
CAKE, BUNNY, BANANA, GROW?
Pancakeswap took the lead as the largest "decentralized" exchange on BSC. It actually took the place of the largest AMM (Automated Market Maker) surpassing Ethereum's UniSwap in February. UNI, the native token of Uniswap has been a top 10 token for some time now. So what about the BSC native tokens?
CAKE is the native token of pancakeswap, BUNNY on pancakebunny, and GROW is the native token on growing.fi.
Staking CAKE can bring huge returns, people used Pancakebunny as it autocompounded CAKE - however Pancakeswap now offer autocompounding on their own site.
The best place for APY for staking CAKE currently is growing.fi - the APY is higher than any other site - and the development team behind the site are working hard to produce even better yield options. They recently gifted all who were involved in the testing stage an NFT which was something the development team went out of their way to make happen.
With BUNNY being reduced to 3 per BNB in fee from 5 and the price simply not reflecting the change it's time people looked for places like Growing.fi to stake their CAKE!
Ethereum - Here to Stay
Ethereum is not going anywhere, and BSC is not attempting to steal the light from Ethereum - it is simply offering a solution to a problem Ethereum has with fees. Ethereum is going to change the way we work with the internet, it will eventually form a fully decentralized web 3.0 - but it doesn't mean another network can't work simultaneously beside it.
