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Six indicators to help you understand the Binance Smart Chain

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Update time : 2021-05-29 14:46:15
6 indicators

1. Binance Smart Chain Liquidity Mining (Yield Farms) Ranking

Liquidity mining (Yield Farms) is to obtain more digital asset income through existing digital assets. If you participate in various mining projects, you only need to hold coins to generate income. You can visit Bscscan's liquidity mining rankings (https://bscscan.com/yieldfarms) to get the most popular mining platform information and projects.

2. The average price of Binance smart chain gas (Gas)

We know that the block network needs to pay network fees. With the upsurge of DeFi projects, Ethereum has become more and more congested, and the gas fee (Gas) has also remained high. So is the fuel cost of Binance Smart Chain also the same? Let's visit Bscscan's fuel cost to find out. https://bscscan.com/chart/gasprice One of the advantages of Binance Smart Chain is its extremely low fuel cost. Did you know that taking the average gas fee of 20 Gwei as an example, 1 Gwei is 10-9 BNB, not ETH! Sending 10 BNB on the chain is worth about $300, and the cost is only about $0.01! If you still don’t know how to participate in the project on Binance Smart Chain, it’s better to start now!

3. Number of users on Binance Smart Chain

How to estimate the number of users of the smart chain? It is important to know that the users of the blockchain are anonymous, but the number of addresses can be used as a rough reference. On the address page of Bscscan: https://bscscan.com/chart/address, you can see the number of newly added addresses and the total number of addresses every day. However, it should be noted that not one blockchain has 100 unique addresses, which means there are 100 users. Each user can create multiple addresses. But even so, the number of unique addresses can help us understand the development of the network. At present, the block address has exceeded 220,000, and it is still growing.

4. Daily transactions on Binance Smart Chain

You want to know about the transactions on the Binance Smart Chain, no question! https://bscscan.com/chart/tx As long as you access this daily transaction volume statistics chart, you can gain insight into the total transaction volume on the smart chain. Although some smart contracts perform multiple transactions, it can still help you roughly estimate the transactions on the chain!

5.BEP-20 token ranking

BEP-20 is the protocol adopted by Binance Smartchain tokens. The BEP-20 Token Tracker page allows you to track the leading BEP-20 tokens by market value or daily transaction volume. ). This will help you understand which tokens have the highest transaction value or the highest transaction volume on the smart chain.

6. Validator of Binance Smart Chain

Binance Smart Chain relies on 21 validators and the consensus mechanism of PoSA. This approach can shorten transaction time and reduce block fees. By holding BNB, you can become a block node verifier, process transactions and sign blocks; correspondingly, you can get transaction fees in return from network activities. You can check the validator rankings of Binance Smart Chain on the validator rankings https://bscscan.com/validators

How to become a verifier? Although everyone can participate, the smart chain does not have low requirements for verifiers: such as security, time, and number of positions. If you want to learn more about how to become a validator of the smart chain, you can visit Binance Chain’s corresponding document guide: https://docs.binance.org/smart-chain/validator/guideline.html