Crypto Market Sees ‘Particularly Robust’ Q3 Performance – Report
A recent MEXC Q3 report highlighted the strong performance of the crypto market during the last quarter, which saw active traders surge as the total crypto market capitalization climbed to the $4 trillion mark.
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The reason behind Next Earth's Binance Smart Chain bridge
Why BSC, you may ask — Next Earth's got the answer
Since its launch in September 2020, Binance Smart Chain has been making waves in the blockchain realm, especially the metaverse sphere. Operating in parallel with the Binance Chain, the BSC delivers more throughput and higher efficiency. No wonder Next Earth chose BSC to deliver an unmatched metaverse experience.
Smart contract enabled BSC offers a high usability factor in Ethereum Virtual Machine (EVM). So, developers can seamlessly power their Ethereum-based DApps.
Furthermore, users create ideal ‘Pegged coins’ with Binance Smart Chain, which feature highly efficient cross-chain transactions. The BEP-20 tokens work similarly to Ethereum’s native tokens, i.e., ERC-20 type. BSC offers the flexibility in deploying BEP-20 tokens in various asset types, thereby giving developers more leeway in handling transactions.
Super-fast transactions due to the ‘Proof-of-Authority’ make sub-3 second transaction time a reality. The result is low-cost transfers which ultimately benefit Next Earth users immensely. Furthermore, the Next Earth community experiences considerable user uptake courtesy of BSC.
Why Next Earth Leverages BSC to Deliver More Value
Since Binance Smart Chain is EVM-compatible, it leverages the diverse Ethereum universe.
Consensus
Proof-of-Stake consensus algorithm delivers sub-3 seconds transaction time. Furthermore, the Proof of Staked Authority allows for BNB staking for achieving validator status, i.e., a user is granted transaction fees in return for their valid block proposal.
Cross-Chain Compatibility
Binance Smart Chain ensures assets can be transferred seamlessly between blockchains. Such high interoperability is beneficial for metaverses where participants require numerous use cases. As the metaverses grow, various NFT-focused dApps sprout, they will want to co-exist moving NFTs between each other and not be limited by platform or blockchains. 2021 and 2022 will see an increased focus on interoperability.
Binance Bridge
Cross-chain transactions are handled seamlessly using Binance Bridge. Users enjoy interoperability for more than 40 tokens.
Language support
Binance Smart Chain websites offer support for more than 16 languages. So, there’s no language barrier in Next Earth.
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Understanding Pegged tokens and Why BSC Metaverse
A pegged token has its value tied to the original underlying asset but uses a different token standard. In the metaverse realm, it means ERC-20 tokens are transferred as BEP-20 tokens at a significantly high speed and low cost.
Apart from fast transactions that take just 3 seconds, the low transaction fees (in cents) benefit the community. Additionally, significant exchanges have recognized the BEP-20 tokens.
No user in metaverse wants to wait few minutes for a transaction to settle. The lag kills the interest. You cannot build on a metaverse waiting indefinitely for a transaction to settle. Metaverses are more than just a concept now. Real businesses are being built on metaverses which will require real-time settlements. BSC does just that.
So, how big is Binance Smart Chain exactly?
Since its launch, BSC has leveraged the mushrooming DeFi market. Currently, the platform boasts more than 7,900 DApps running successfully. User deposits are in the tune of $41,588,673 daily.
In September 2020, the average block time stood at 3.00 seconds. The average transaction fee on BSC is approximately 22.5560 gwei.
Metaverses are the latest solutions to take advantage of the Binance Smart Chain’s diverse credentials.
Considering these statistics, no wonder Next Earth has massive potential in terms of growth. The safe financial credentials delivered by Binance Smart Chain are a powerful solution that metaverse enthusiasts can trust.
Going Beyond Metaverse — Why Next Earth
Blockchain realm is known for its speed of innovation. It is usual for viral projects with huge potential to quickly get out of reach of regular participants. So, it becomes crucial to identify projects that deliver value along with growth.
Next Earth delivers just the right combination of affordability and opportunity.
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