The daily trading volume exceeds that of Ethereum, analyzing the way to break through the BSC of Coinsecurity smart chain

Text | Nancy Editor | Tong Produced | PANewsAs a rapidly evolving complex, the Internet is highly competitive while innovating, with ups and downs becoming the norm, as well as the crypto world. Looking back at the development history of the crypto market in the past year, with the emergence of various innovative gameplay methods such as DeFi, which deconstructs traditional finance, GameFi, which carries new forms of value, and GameFi, which innovates game business models, some people have taken advantage of the wind and accumulated strength to break through, while others have gradually faded out of the stage

Text | Nancy Editor | Tong Produced | PANews

As a rapidly evolving complex, the Internet is highly competitive while innovating, with ups and downs becoming the norm, as well as the crypto world. Looking back at the development history of the crypto market in the past year, with the emergence of various innovative gameplay methods such as DeFi, which deconstructs traditional finance, GameFi, which carries new forms of value, and GameFi, which innovates game business models, some people have taken advantage of the wind and accumulated strength to break through, while others have gradually faded out of the stage.

At a time when the crypto market landscape is quietly changing, who is currently at the forefront of the hot topic and becoming a hot spot for developers and users to pursue.

Who is "in charge" of DeFi and NFT accelerating the reshaping of the market landscape?

Encrypted assets are accelerating their entry into the real world, especially the potential of DeFi and NFT, which makes traditional fields see the power of the encryption world. For example, JPMorgan Chase, DBS Bank, PayPal, etc. are paying attention to DeFi, Tencent, Alibaba, Visa, etc. have entered NFT. With the increasingly mainstream of Cryptocurrency, how to seize the market opportunity has become a survival rule. From the increasingly fierce competition among various parties in the DeFi and NFT fields, the gap is gradually widening.

From the development of DeFi field, in addition to Ethereum, smart chain BSC and Polygon are accelerating to seize market share. Firstly, there is the lockdown volume. According to DeBank data, as of September 1st, the total lockdown volume of DeFi was $114.1 billion, with the top three blockchain accounting for 96.1% of the market share. Among them, Ethereum ranked first with US $84.1 billion in lock positions, accounting for 73.7% of the total lock positions; Coin security smart chain BSC followed closely with a lockdown of 20.3 billion US dollars, accounting for 17.7% of the total; Ranked third is Polygon, with a lockdown of $5.4 billion accounting for 4.7% of the total. The main reason behind the gap in lock-in volume of each chain lies in the development time difference of several years. Although Ethereum is the focus of DeFi ecological competition at this stage, most of its DeFi agreements with lock-in volume of more than 1 billion dollars have been online for 2 to 3 years, but DeFi projects on the BSC and Polygon of the security smart chain have only been online for less than 1 year.

Secondly, from the ecological point of view, while the lock-in volume is leading, the number of DeFi projects of Ethereum, Caian Smart Chain BSC and Polygon also accounts for the vast majority of the market share. DappRadar data shows that, as of September 1, there were 254 DeFi projects based on Ethereum, 273 DeFi projects based on Polygon, and 876 BSCs of Coin Security smart chain. Although Ethereum has a leading lock-in position, its ecological prosperity is far less than that of Coin Security intelligent chain BSC and Polygon. Among them, the number of DeFi projects of Coin Security intelligent chain BSC is far more than the sum of Ethereum and Polygon.

After the popularity of the DeFi concept. NFT successfully took over and ushered in explosive development. Looking at the overall development of NFT, many NFT projects based on Ethereum have become leaders, and the main NFT and WAX games have become important competitors in the market by virtue of their strong IP shaping ability. However, from the data, it can be seen that the expansion speed of latecomers such as Coin Security Intelligent Chain BSC cannot be underestimated. According to BSCProject data, there are 163 NFT projects in the development of Coin Security Smart Chain BSC, covering diverse fields such as trading platforms, GameFi, collectibles, crypto art, games, and infrastructure.

BSCNFT Ecological Landscape Source: BSC

It is obvious that if Ethereum was "fighting alone" in the encryption market in the past, then under the rapid development of DeFi and NFT, the new entrants led by Jin'an intelligent chain BSC are accelerating to reshape the market pattern.

GameFi is booming, and BSC is vying to be the vanguard

From obscurity to popularity, GameFi quickly became one of the most eye-catching segments in the encryption market after the booming development of DeFi and NFT. Especially the GemeFi project has sparked a phenomenon level craze and demonstrated strong financial attraction. According to TokenTerminal data, AxieInfinity's total revenue in the past 30 days has reached $340 million, surpassing traditional popular games such as "Peace Elite" and "King of Glory", and also surpassing DeFi protocols such as Uniswap1inch and SushiSwap.

In fact, unlike traditional games, GemeFi not only expands the application scenarios of game assets through game financialization, but also allows players to enjoy the fun of the game and gain real profits while playing. The strong potential demonstrated by GemeFi has also led to various innovative projects springing up like mushrooms after rain, and the market size is expanding day by day.

According to DappRadar data, as of September 1st, the monthly transaction volume in the gaming industry reached $18.44 million, an increase of more than 2.5 times compared to the beginning of the year; The number of users reached 1.47 million, an increase of over 6.3 times compared to the beginning of the year. Regardless of the transaction volume or the number of users, the game leads in many fields such as DeFi, social networking, and collection with Absolute advantage. However, in the entire GameFi circuit, although projects such as AxieInfinity lead the entire market, the field is still in its early stages, with traffic mostly concentrated in a small number of top projects, indicating that there is still huge room for development.

At present, in terms of ecological development, the GameFi market is showing a trend of multiple flowering points. From DappRadar's top ten games in terms of turnover in the past 30 days, although AxieInfinity based on Ethereum tops the list, games based on KingSecurity smart chain BSC account for 70%, occupying the list strongly; From the perspective of user numbers, Allen Worlds based on WAX ranks first with a user growth of 1 million, followed closely by CryptoBlades of Coin Security Smart Chain BSC with a user growth of 510000, and far ahead of AxieInfinity, which ranks third. CryptoBlades have only been launched in just three months. At the same time, the top ten game users, such as XWorldGames, MOBOX, MyDeFiPet, and CryptoZoom, based on the Coin Security Smart Chain BSC, have also shown impressive growth.

In addition, BSCProject data shows that as of September 1st, the number of games based on the Coin Security Smart Chain BSC has reached 76. Among them, among the top 20 MVBII projects recently announced, GameFi projects are not uncommon, including many popular projects such as BunnyPark, MOBOX, XWorldGames, and MyDeFiPet, which have increased tenfold since participating in MVBII.

In order to further attract the development of GameFi, Coin Security Intelligent Chain BSC has directly defined the direction of MVBIII's support plan as GameFi, creating a GameFi blockbuster from all aspects of financial and ecological support. Unlike previous trends such as following DeFi, this time the Coin Security Smart Chain BSC has stood at the forefront of GameFi as a leader.

The daily trading volume has exceeded that of Ethereum. How can BSC break the situation after being launched for one year?

Chain trading volume and total address are important indicators of ecological activity. With its high sensitivity to DeFi, NFT, and GameFi hotspots, various data shows that the Coin Security smart chain BSC has become one of the forces that cannot be ignored in the rapid development of the ecosystem, and many indicators have surpassed Ethereum.

According to data from official browsers BscScan and Etherscan, at the beginning of this year, the daily trading volume of the BSC of Coinsecurity smart chain was only 350000, while Ethereum took a big lead by 2.5 times, with a daily trading volume of 1.25 million. However, as of August 31, the daily trading volume of the BSC of the Jin'an smart chain was up to 8.17 million, while that of Ethereum was only 1.2 million, 6.8 times that of the latter. Not only that, Ethereum had a maximum daily trading volume of 1.71 million after nearly six years of development, and the highest daily trading volume of 13.17 million was achieved in 312 days of online operation of Coin Security Smart Energy Chain BSC on the main network, 7.7 times that of Ethereum.

While the number of transactions has grown rapidly, the number of addresses on the chain has also seen a significant increase. At the beginning of this year, the total number of addresses of the BSCs of the Jin'an smart chain was only 650000, and the number of Ethereum reached 130 million. As of August 31, the total number of addresses of the BSC of the Jin'an smart chain reached 91.87 million, an increase of more than 140 times over the beginning of the year, while that of Ethereum was 167 million, an increase of only 28% over the beginning of the year. Although there is still a gap between the total address of the two, but in terms of the running time, the growth trend of KingSecurity intelligent chain BSC is far ahead of Ethereum, and has reached the level of Ethereum development for more than four years.

In fact, behind the breaking of the coin security intelligent chain BSC and becoming a new formidable enemy, it benefits from various advantages. On the whole, the adoption of crypto assets in the mainstream world is accelerating, including Fidelity, Tesla, Paypal, Standard Chartered Bank and other institutions, the "first share of Cryptocurrency" is listed on NASDAQ, and El Salvador uses Bitcoin as the French currency, which makes crypto assets more popular.

In terms of technology, Ethereum, which is still suffering from performance, has given other blockchains a chance to shine. According to the data from the browser, as of September 1, the average network outgoing time of the BSC of the Coinsecurity smart chain was 3.1 seconds, the throughput was 88 TPS, and Ethereum was 14.28 TPS. It is precisely by virtue of the technical advantages such as low gas fee and high transaction speed that the BSC of the Jin'an intelligent chain has greatly reduced the Learning curve of developers.

As an important and effective force of ecological development, developers, in order to further attract developers, Jin'an smart chain BSC not only held Hackathon activities for many times, focusing on and supporting NFT and DeFi fields, but also launched a multi-phase developer funding plan BSCGrant. Developers from all over the world can submit ecological projects in DeFi, NFT, wallet and other fields to the blockchain developer platform Hackerlink.io. In addition, the BSC also launched the Mars program, Learn& Earn and other activities provide more support to developers.

Not only do we increase support for developers, but also spare no effort in the ecological layout of the Coin Security Intelligent Chain BSC. In the launched $100 million BSC Ecological Acceleration Program, celebrity projects supported include PancakeSwap, BakerySwap, PancakeSwap, Anyswap, and ApeSwap. With the support of accelerated technology, BscScan's validated smart contracts have rapidly grown from 15 at the beginning of the year to over 2000 today. At the same time, the BUIDLRewardProgram program under the fund rewards projects that meet the requirements on the Coin Security Smart Chain BSC every month. In July, approximately $1.4 million in rewards have been distributed to 56 projects. Not only that, the Most Valuable Builder (MVB) program launched by Coin An Intelligent Chain BSC provides seed funding, market promotion, and the opportunity to directly launch in Coin An Innovation Zone for successfully selected projects. Among them, MVBI will focus on the DeFi field, with MVBII being NFT, while currently undergoing MVBIII mainly focusing on the popular concept GameFi, with hundreds of applicants. The key support for these popular tracks is also one of the important reasons why the BSC ecosystem of Coin An Intelligent Chain can overtake on curves in a short period of time.

Along with the rapid development of ecology, safety has also become an important concern. According to Coin98 data, since the beginning of the year, the financial losses in the DeFi field have reached as high as 657 million US dollars, with security incidents in the previous year far exceeding those in the entire year of 2020. The security incidents that have occurred on the BSC chain of Coin Security Smart Chain have also caused it to be questioned by users. In order to further improve the security defense line, Coin Security Intelligent Chain BSC has also reached cooperation with security companies Peckshield and Certik to provide security services and audits for products, and hold various security seminars. At the same time, Coin Security Smart Chain BSC has jointly launched a $100000 vulnerability reward program with PeckShield, CertiK, and Immunefi to reduce project vulnerability exploitation. In addition, in order to ensure the interests of users, Coin Security Intelligent Chain BSC also launched the "BNB Anti Black Hole Plan" in July this year, mainly targeting users who suffer permanent asset losses due to operational errors during online transfers.

Although it was only launched for one year, the Coin Security Intelligent Chain BSC has formed a diversified ecosystem with its sensitivity to hot topics, its own technical characteristics, ecological support, and security guarantees. According to BSCProject data, as of September 1st, the Coin Security Smart Chain BSC has 821 projects covering fields such as DeFi, gaming, NFT, wallets, social media, and tools.

In a word, the encryption market pattern will become more and more changeable in the face of more and more intruders who lock in "good topics" and try to catch the "Hitchhiking" of traffic. From the development strategy and experience of Coin Security Intelligent Chain BSC in DeFi, NFT, and GameFi, it may have reference significance for the outside world.