Binance has spearheaded a number of initiatives to help fuel the growth of Binance Smart Chain. Added to this trend, BSC welcomed yet another integration, this time with the Gravity Protocol. According to the official release, the Gravity Protocol announced the integration of the Binance Smart Chain Testnet into its test framework via an Ankr Node.
Gravity Protocol is a blockchain agnostic, cross-chain communication, and data oracles protocol. Ethereum and Waves have been part of the network since the very beginning. The latest integration is essentially required to establish an adequate technical foundation that would incorporate the majority of the feature that is needed by target chains, which in turn, would help in facilitating new integrations.
The blog post also mentioned,
“In the current crypto market conditions, BSC has been a timely addition, capable of leveraging many opportunities that arise on the DeFi front, therefore making it a prominent candidate for integrating into the Gravity network. While preparing this integration, the Gravity team utilized easy-to-use, one-click BSC node deployment solutions by Ankr, a partner of Waves.”
Binance Smart Chain’s Growth
The growth of active addresses in the BSC network has been tremendous and the figures were growing much faster, as users are discouraged by large transaction sizes on the Ethereum network due to network congestion and scalability issues. As of 19th October, the figures for total distinct addresses stood at 234,130, a growth of more than 370% since the beginning of October.
The Malta-based cryptocurrency exchange, Binance shot to prominence within no time. The platform has been enjoying its status as one of the market’s most trusted exchanges for quite some time now, even as it happens to be centralized. Binance’s attempts to cater to the growing demand of DeFi cannot be overlooked. In fact, the platform has been avidly looking out for demand in the market, which has resulted in several launch and roll-outs of an assortment of products including Binance Smart Chain which is based on the Ethereum network. BSC is, however, an independent network with its own tokens that can be moved from the Ethereum network.