Binance Smart Chain
Last updated
Last updated
Idle Ninja Online is a global game, and NINKY is therefore dispersed around the globe. To meet the needs of users in the INO-NINKY ecosystem, it needs to be operated on a global chain.
There are other global chains other than Binance Smart Chain such as Ethereum, Solana, Klaytn, and more. However, BSC had superior advantages over others which made it the main chain for the system. BSC is able to provide an entire ecosystem capable of handling a large number of transactions, compatibility, and smart contracts.
Binance Smart Chain supports EVM, or Ethereum Virtual Machine, and thus utilizing Ethereum within the BSC network is possible. This means that tokenomics built on BSC can be applied to other systems working based on Ethereum. For instance, the chain supports Metamask, enabling users of the wallet to easily link with cryptoassets on BSC.
Also, the cross-chain solution available on Binance Bridge allows token from different chains to move freely to and from BSC. Other cryptoassets that doesn't come from Ethereum can also be adopted into BSC easily with numerous bridges set in advance.
Along with the rise of DeFi, transaction fees on Ethereum have skyrocketed and gone above $100 per one transaction. This became a huge burden for developers working on blockchains and hindered innovations. BSC provides a way to escape from Ethereum's high gas fee and allow developers to use the advantages of blockchain without worrying about gas fees. Its low and stable gas price, which is less than $1, is a huge incentive for INO-NINKY to use BSC as its main blockchain.
BSC utilizes "Proof of Staked Authority" which is a hybrid algorithm of Proof of Stake and Proof of Authority. Though this method may cast a problem of centralization, the incentive of being able to provide a superior performance that excels other blockchains cannot be overlooked. For the contrast, Bitcoin produces a new block every 10 minutes, Ethereum produces every 15 seconds, and BSC produces every 3 seconds. This fast algorithmic system combined with surprisingly low price is certainly an attractive choice for developers.
Fast growing network of BSC with users from all around the globe is another incentive to use the chain. The number of cryptoassets and DEXs created from BSC is increasing almost daily, and users are flowing into the society. In the year of 2021, the total number of transactions and addresses in BSC increased more than ten times since the beginning of the year. Users seeking to benefit from the low transaction fee of BSC are flowing into the environment with no limit of nations.
Based upon these advantages described above, various features including NINKY token, NFT pets, and swap between tokens are realized on BSC, enabling Idle Online Ninja to provide a broader experience of open economy for users.
However, there surely exists limits to BSC. The concerns regarding centralization and unforeseen problems yet to come is the need for the independent development of a new chain system that solely focuses on creating a truly decentralized ecosystem for users of gamers.
