- The BNB chain has the second largest TVL after Ethereum.
- 12% of tokens on BNB chain are scam tokens.
- A hard fork upgrade is planned for 2023. Stake the economy on the beacon chain.
With a total value lock (TVL) of $4.05 billion, the BNB chain ranks as the second largest Layer 1 ecosystem after Ethereum. block research Found in a new report.
Overall decentralized finance (DeFi) share has been steadily increasing since May, while the BNB chain’s TVL is down 63% since January. DefilamaOf the $38.93 billion locked up as TVL across the DeFi ecosystem, the BNB chain’s TVL accounted for 10.4% of the total market share.
Source: DefiLlama
BNB chains are highly regarded for their high throughput, low fees, and fast transaction processing, making them a cost-effective alternative to Ethereum.
The BNB chain’s TVL, which houses 484 DeFi projects, is a far cry from Ethereum’s $23.01 billion TVL, which accounts for 59% of the total DeFi TVL market share.
read binance coin [BNB] Price Forecast 2023-24
House to cheat tokens?
Due to the nature of the BNB chain, it has more GameFi projects than any other blockchain. According to a recently published report by Binance Research, 37% of projects in the gaming sector of the web3 ecosystem are built on his BNB chain.
Source: Binance Research
However, many turned out to be ragpull, as they employ the play-earn-get-rich-quick model employed by many of these games. According to the report, 12% of all BNB chain tokens are fraudulent, which is the highest value among blockchains.
Source: Solidus Labs
Comparing this to Ethereum, Solidus Labs reports: It is programmed to do lag pulls.”
How many BNB can you get for 1 dollar?
network upgrade next year
BNB Chain, December 27th, announced Proposed implementation of hard fork upgrades to the BNB beacon chain testnet at block heights 34,587,202 and 34,963,303. Considering the current block production rate, we expect the hard fork to occur on January 2nd, 2023.
According to the blog post, the hard fork upgrade, dubbed BEP159, introduces an “unauthorized validator election mechanism” and brings “a staking economy to the beacon chain.”
With this update, the staking economy will be integrated into the beacon chain, allowing validator sets to be determined based on the rank of the candidate validator’s accumulated combined tokens.
Validators are responsible for generating new blocks, receive rewards for their efforts, and can share them with their delegators. BNB holders who participate in staking also have the right to vote on proposals and contribute to the network’s future decision-making process.
