Binance Smart Chain (BSC), built by the brilliant and tireless developers at Binance Chain, will be one of the most influential blockchains within DeFi.
At Linear Finance, as cross-chain functionality is a key distinction in our protocol, finding the right blockchain solutions are crucial. Our team has spent countless hours of due diligence, and in the end, whilst we are built on Ethereum, we chose BSC as our first EVM compatible blockchain to integrate with for the following reasons:
- Innovative Proof of Staked Authority (PoSA) Consensus: Binance Smart Chain innovates with a system of 21 validators and PoSA consensus supporting short block times (an average of 3 seconds) and lower fees (one-tenth of Ethereum or less). The most bonded validator candidates of staking will become validators and produce blocks. The double-sign detection and other slashing logic guarantee security, stability, and chain finality.
- No Knowledge Barrier for Existing DeFi/ETH Users: As BSC is EVM compatible, deployment and testing costs are marginally low while maintaining the same user experience of Ethereum in regards to wallet and account use, without the learning curve.
- Strong Community and Developer Support: BSC will run in parallel with Binance’s original blockchain, Binance Chain which has attracted hundreds of developers and contributors since its launch in April 2019 with a highly mature cross-chain smart contract suite. With the interoperability by nature, BSC makes asset transfers between Ethereum and BSC (or other EVM-compatible chains) a seamless journey from a user and developer point of view. In addition, there are numerous top-notch projects joining the BSC family such as BAND, Chainlink, and Swipe, ensuring that BSC is always on the cutting edge of technological development.
Linear Finance is already building with BSC and upon launch, we look forward to joining the strengthening ecosystem built by the Binance team.
Stay tuned for announcements on other upcoming cross-chain collaborations and in the meantime, you can follow us on Twitter, Medium, or join our discussion on Telegram and Discord.
Drey Ng, Co-founder, Linear Finance
Kevin Tai, Co-founder, Linear Finance