Why DEXes Are Switching to BSC Infrastructure

Until the launch of the Binance Smart Chain in September 2020, many decentralised exchanges relied on the Ethereum network for transaction processing among other functionalities. This resulted in an overburdening of the network, leading to congestion, high transaction fees and slow transaction speed. The development of the BSC infrastructure stemmed from the need to provide a faster network that is far less expensive than Ethereum. The Binance team aimed to improve the freedom of money by building a holistic community-driven ecosystem where assets flow freely based on users’ needs. Since the creation of the BSC platform, numerous DEXES are leveraging its advantages to provide better services to users. As of writing, the Binance Smart Chain has nearly $27 billion locked in the numerous applications that exist on the network and below are the major reasons why DEXES are jumping ship to join the BSC network. Lower Transaction Costs Transaction costs and network operations are the major determinants that prompt exchanges, users and developers to pivot from the Ether network and other prominent blockchains to Binance Smart Chain. For instance, users are subject to paying outrageous transaction fees on the Ethereum blockchain during periods of high congestion. The transaction fees on the Ethereum network went through the roof when DeFi coins started making considerable progress in 2021. As a result, the adoption of decentralised fin...