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Binance Smart Chain Hits Record 14.7 Million In Daily Transactions

Buy Bitcoin UK on Binance
Buy Bitcoin UK on Binance

Binance Smart Chain recorded 14.7 million in blockchain transactions on Tuesday, which is an all-time high daily transaction volume for the platform. The DeFi Platform also noted that it has realized about 1.75 billion overall transaction volume since it was launched in August last year. The latest landmark achievement is slightly higher than the previous all-time high transaction volume it recorded on July 29 this year.

The platform stated that it had 276,446 new wallet addresses on the same day. This is a significant increase from the 111,244 addresses recorded on 29 July.

BSC Outperforms Bitcoin And Ethereum Networks

In comparison, the Bitcoin network achieved 301,103 total transactions and added 740,829 new addresses on Tuesday.

On the other hand, the Ethereum network recorded a total transaction volume of 1.3 million, while 134,354 addresses were added on the same day. It shows that the Binance Smart Chain contracts outperformed both Bitcoin and Ethereum-based contracts on Tuesday.

The coordinator of the BSC ecosystem, Samy Karim, commented on the milestone. He stated that BSC transactions have averaged 10 million transactions daily.

He further compared the transaction metrics of different blockchain networks, noting that BSC presently boasts a network with the highest number of daily transactions for the past two weeks.

The BSC blockchain network was launched in August 2020. It provided the basis for decentralized applications and innovative startup projects to launch on the platform. Additionally, the platform is compatible with the Ethereum blockchain via the Ethereum virtual machine. Binance smart Chain says its platform facilitates more than 1,000 decentralized applications.

Binance Set To Improve Smart Ecosystem

Binance has been in the news for the wrong reasons for the past few months due to regulatory crackdown across several jurisdictions. However, the exchange is not slowing down in its bid to provide more features and expand its operations. Last month, it launched a $1 billion accelerator fund that will improve the proficiency of the Binance Smart Ecosystem. The platform wants to focus on some areas like artificial intelligence, virtual reality, gaming, and metaverses.

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