DEXBOT

Crypto Coverages

Bitsgap

Icoverage.io is supported via affiliate partnerships, see our affiliate disclosure to learn more.

BNB Chain Sees 1-year Transaction High; Demonstrates Network Reliability After BSC Surge

 

DUBAI, UAE, November 23nd, 2023, Chainwire

 

● November 19 saw BSC record more than 9.5M transactions in a single day

● Earlier in the week, BSC demonstrated gas price stability during a similar surge

 

BNB Chain Sees 1-year Transaction High

 

On November 19, 2023, BNB Chain, the community-driven blockchain ecosystem, saw its highest traffic rates since May of 2022 with transactions exceeding 9.5M for the day. More than 7M of the 9.5M daily transactions were attributed to inscription minting transactions on BNB Smart Chain (BSC).

 

The 1-year high comes amid a week of traffic surges on BSC. November 17 likewise saw a spike in traffic, with gas prices on BSC remaining consistent during the surge. On November 17, with TPS (transactions per second) reaching almost 250 at the peak, gas prices remained consistent at the $0.016 threshold.

 

BNB Gas Price Consistency By TPS

 

While TPS rose to almost 250 on Nov. 17, gas prices on BSC remained steady at $0.016.

 

BSC’s very large block size is what allows it to handle spikes in traffic smoothly while maintaining a stable gas price. With TPS at around 200, the usage of the block is only at around 15-20%, meaning that the network still has plenty of space left to handle further traffic. 

 

Learn more about BNB Smart Chain here.

 

About BNB Chain

 

BNB Chain is a community-driven ecosystem with multiple decentralized blockchains, powered by BNB. It consists of BNB Beacon Chain, its staking and governance layer, BNB Smart Chain (BSC), which is EVM compatible and facilitates a multi-chain ecosystem with its Layer-2 solutions including opBNB, and BNB Greenfield, its decentralized data storage network. 

 

The BNB Chain ecosystem has the world’s largest smart contract blockchain (BSC) by daily active users and has processed 3 billion transactions to date from 232 Million unique addresses. This makes it the largest layer 1 blockchain globally and brings developers massive user access with ultra-low gas fees, higher transactions per second and has experienced zero crashes since its inception. The ecosystem has more than 1,500 estimated active dApps at any given time across multiple categories such as DeFi, Metaverse, Blockchain Gaming, SocialFi, NFT, Infrastructure, and more. There are numerous programs available to support the Web3 ecosystem including the Gas GrantBuilder GrantKickstartMost Valuable Builder (MVB) and AvengerDAO

 

Contact

 

Jack S
[email protected]

 

Disclaimer

This is a partner content, information therein are of a third-party. Be advised to do a thorough research on all data presented before making any financial or investment decision.

 

 

 
Bitsgap

Disclaimer: The content on this page and all pages of Icoverage.io are presented for informational purposes only and should not be considered finance or legal advice. 

Bitgaps