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04
Sep, 2020

Binance Creates a New DeFi Infrastrucutre

DeFi is one of the hottest issues at this moment in the crypto space as many financing rounds were completed through it and have surpassed any previous level, creating new standards for the financial markets. The majority of those projects are based on Ethereum, creating adding value for it.

 

Binance is trying to enter this game, creating a similar network with Ethereum, the Smart Chain, where crypto developers could start their financing round through an ICO just like with Ethereum.

 

The programming language remains Solidity while the transfer from one blockchain infrastructure to another will not have any difference in the final result.

 

According to Binance’s resources, the new network will have two major advantages to be preferred from new crypto projects. The advantages will be the cheap transaction fees (a cent per transaction) and the instant block confirmation (every 3 seconds).

 

All of the above need to proved in reality and what they will bring in the crypto ecosystem.