Since its inception in August 2020, the Defi platform has processed approximately 1.75 billion transactions.
According to data from BscScan, a sister product of Etherscan, Tuesday’s Binance Smart Chain (BSC) activity exceeded 14.7 million transactions.
This is the highest volume on the decentralized finance network, which surpasses the previous high of 13.1 million established on July 29 this year.
Binance Smart Chain recorded the highest number of new wallet registrations earlier this week
On the same day, users generated 276,446 fresh wallet addresses. Noting a significant milestone from the July 29th record of 111,244. In celebration of the accomplishment, the BSC team issued an official announcement on Twitter.
We noted over 1.3 million total transactions on Tuesday taking place on the Ethereum network, plus 134,354 new addresses added. Meanwhile, the Bitcoin network recorded 301,103 total transactions and 740,829 new addresses.
Source: BSCscan
Samy Karim, the ecosystem coordinator for the Binance Chain, compared data from various blockchain networks and drew the following conclusion.
“Over 10 million txs per day on average each day took place on the BSC blockchain during the previous two weeks,”
“In terms of transaction volume, the BSC network currently has the most transactions ever recorded at the lowest possible costs.
Binance Smart Chain was founded in late-August 2020 as a launchpad platform for blockchain-based innovative startup projects and decentralized applications. The platform to date has supported over 1,000 dApps.
On October 12, major cryptocurrency exchange Binance announced the creation of a $1-billion accelerator fund to help develop the Binance Smart Chain ecosystem in maturing fields like metaverses, gaming, virtual reality and artificial intelligence.
PancakeSwap is the most well-known of the 159 protocols on BSC. It currently has a total value locked of $17.77 billion, or roughly 80% of the overall $30.6 billion on the platform, according to data from Defistation.
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