Wallet Updates: BSC Integration

We’re pleased to announce that we are now offering support to Binance Smart Chain within the FunFair Wallet solution

From today any developer building a dapp in the Binance ecosystem can now implement our wallet effortlessly, saving themselves time and resources with an integrated wallet solution.

While we are delighted with the work completed by the Wallet team here at FunFair, we wanted to use this opportunity to delve deeper into BSC. Naturally, being a company that at its core believes in decentralisation, it may seem an odd selection for us to incorporate in our wallet. Below we will provide an overview and our thoughts, which led us to include support for BSC.

 

Background

Launched in April 2019, Binance released their first blockchain, the aptly named ‘Binance Chain’. However, it wasn’t until September 2020 that when Binance Smart Chain launched on mainnet, it created a stir. BSC, in short, is an ethereum virtual machine (EVM) that is compatible with the ethereum blockchain. It complements Binance Chain by allowing smart contacts and developers to build apps in the Binance ecosystem. 

It was willed into existence by the need for fast/high-throughput transactions that were also cheap. At the time, and to this day, the Ethereum blockchain is becoming congested and more expensive to use. Of course, they are not the only nor the first technology to offer this promise of fast and lower-cost transactions. But being backed by Binance helped fuel the growth of BSC incredibly quickly. Having funds and access to 15 million users is something that most early technologies simply don’t have the benefit of.

And BSC has leveraged this advantage very effectively, with a market cap of 15 million in January, which has since exploded to 18 billion in 5 months.

 

Some have even labelled ...

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News – FunFair

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