#BSCOnTheRise Balanced Scorecard, or BSC, is a business management methodology developed by PhDs in the field. The proposal of this tool is that companies do not rely solely on financial indicators to evaluate performance, but also on other factors, such as customers, internal processes, learning and growth.
After operating for a while on the Ethereum blockchain $ETH , Binance decided to venture on its own path and launched its own chain, the Binance Smart Chain (BSC). We delve into BSC issues and how to use the chain.
High transaction fees on Ethereum $ETH
The main reason for its change was the high fees on the Ethereum Network. Since the change, Ethereum has not improved much in terms of transaction fees. Currently, Ethereum gas fees range between 41 and 59 Gwei. While this is significantly lower than the highs of around 3000 Gwei per transaction, the rise in Ethereum’s price means that the dollar value of fees is high compared to other chains.
This is why Binance developed Binance Chain (Note: not Binance Smart Chain). This was the first blockchain that Binance migrated to before upgrading to Binance Smart Chain. The main difference between Binance Chain and Binance Smart Chain (BSC) is that the former does not support smart contracts and staking, while the latter does. Binance Chain was announced in April 2019. With Binance Chain, anyone can create, use, and also trade crypto assets on this blockchain.
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