Binance Smart Chain the biggest contributor towards blockchain dApp industry in 2021 - DappRadar Reports
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Binance Smart Chain the biggest contributor towards blockchain dApp industry in 2021 - DappRadar Reports

Simran Alphonso

The blockchain dapp industry has seen tremendous growth of 639% increase in active wallets across all blockchain platforms in Q1 of 2020 according to the recent DappRadar reports. Hitting 458,000 daily active wallets Binance Smart Chain evolved as the biggest contributor, bringing in an average of 105,000 daily active wallets.

Ethereum had an average of 75,000 active wallets per day, while Flow added another 53,000 on average.

Binance Smart Chain with its dual architecture and EVM-compatibility allows to build projects with cross-chain interoperability. The low fees and 3-second block times allow BSC projects to maximize their profits and user revenue while empowering users with low entry requirements and access to the financial system.

The report says, "According to the Dapp Industry Report, the first three months of 2021 are memorable because Binance Smart Chain has overtaken Ethereum. It’s within the line of expectations that the gap in active user wallets between Ethereum and Binance Smart Chain will widen further in favor of the latter."

Only 8 months from its launch Binance Smart Chain has already taken over EOS's dApp count and surpassed Ethereum's daily transaction volume.

Not just this, today Binance Smart Chain hit an all time high of 4M daily transactions volume which is almost 300% more than Ethereum’s ATH daily transactions (1.4M on 17th Sept. 2020). BSC data here and ETH data here.