Top binance smart chain dapps

Top binance smart chain dapps

How to Connect MetaMask to Binance Smart Chain?

Have you participated in our latest Binance Listing Campaign 1 : Which BSC Dapp Has the Greatest Potential? You can find over 10 different on-chain metrics on the product detail page, and use the data to analyze their performance. 6 Indicators for Trading BSC DeFi Tokens — Boost Your Trading Profit.

So how to use Binance Smart Chain dapps and trade tokens on BSC? First, you need to have a wallet that supports BSC, find it here. Then you need to create your BSC wallet. We’ve taught you how to use Ethereum Layer 2 Matic Network with MetaMask. The tutorial for Binance Smart Chain is quite similar to that.

We will use MetaMask as the wallet to introduce the steps.

The MetaMask extension can be downloaded on Chrome and Firefox, or on iOS and Android if you’re a mobile user. If you’ve already had a MetaMask wallet and been an Ethereum user, you can skip the 3 steps below.

• Install MetaMask: Click “Add to Chrome” to install MetaMask as Google Chrome extension.
• Click “Add Extension” to confirm and MetaMask will be added
• Click on the MetaMask logo, then create a new vault. Set your password.

And that’s it! You get your wallet ready to send and receive funds.

Now that you have an Ethereum wallet, it still won’t work with Binance Smart Chain dapps. At worst, you could lose funds by sending them to addresses you can’t actually use.

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Binance Smart Chain (BSC) in Numbers A Fast-Growing DApp Ecosystem

Alex Lielacher

Published on 23 Dec 2020

Gain insight into the progress that Binance Smart Chain (BSC) has made since its September 2020 launch.

Binance Smart Chain (BSC) launched as a parallel chain to Binance Chain with the goal of providing a high-throughput blockchain that enables DeFi applications to thrive. Only three months later, Binance Smart Chain already has a lot to show for.

Discover the latest data on Binance Smart Chain usage that highlights the new chain’s promising future.

What is Binance Smart Chain?

Binance Smart Chain (BSC) is a new smart contract-enabled blockchain that acts as a parallel chain to Binance Chain.

BSC is was built to be Ethereum Virtual Machine (EVM) compatible in order to provide developers with the ability to seamlessly deploy DApps built for Ethereum on Binance’s new blockchain.

Additionally, BSC supports cross-chain transfers and allows for the creation of “pegged coins” (tokens pegged to the BSC chain), including BTC, ETH, TRX, and more. Pegged coins operate as BEP-20 tokens on Binance Smart Chain, similar to Ethereum’s ERC-20 tokens.

Moreover, BSC’s BEP20 token standard enables developers to easily create and issue tokens that can represent a wide range of different asset types.

5 second block time and a Proof-of-Authority (PoA) consensus mechanism, BSC enables high-speed transactions that only cost network participants a few cents.

As a result, decentralized applications built on Binance Smart Chain have already experienced substantial user uptake, with DeFi apps leading the foray.

Binance Smart Chain in Numbers

The best way to gain insight into Binance Smart Chain’s progress to date is to dig into its numbers.

So let’s dive in!

The Binance Smart Chain mainnet was launched on September 1, 2020, to provide an alternative, smart contract-enabled chain to Ethereum for the burgeoning DeFi market.

On September 10, 2020, Binance CEO Changpeng “CZ” Zhao announced the launch of a $100 million developer seed fund to support the development of promising decentralized applications on Binance Smart Chain.

The first DApps to hit Binance Smart Chain were DeFi protocols looking for a user-friendlier blockchain than Ethereum that still provides many of the leading smart contract’s platform’s benefits.

PancakeSwap, BakerySwap, and Beefy were the first DeFi protocols to launch on BSC, with strong user uptake in weeks following their launches.

In total, there are 47 DApps currently running on Binance Smart Chain, according to data compiled by DAppRadar.

Out of the 47 DApps that have been deployed on BSC, 38 are DeFi apps, highlighting the platform’s focus on this exciting new market segment.

At the time of writing, Binance Smart Chain has over 7,900 active DApp **users that have deposited **a total of $41,588,673.40 in BSC-powered protocols in the last 24 hours.

The three most popular BSC DApps — measured by number of active users — are the food-themed yield farm, PancakeSwap, the gambling DApp, BLINk, and the gangster-themed DeFi protocol, Thugs.Fi.

The top five DApps by 24-hour transaction volume are PancakeSwap, Venus, C.R.E.A.M, Thugs.Fi, and BLINk.

The DApp with by far the highest US dollar balance in its smart contract is the DeFi app, Venus.

This should come as no surprise as Venus is an algorithmic money markets protocol that enables users to earn above-average interest rates on stablecoins. To earn interest, investors need to deposit stablecoins, such as the BEP-20 version of BUSD, DAI, USDC, and USDT. Hence, the high US dollar amount in the Venus smart contract.

The first initial farm offering (IFO) held on Binance Smart Chain was conducted by the new gambling platform, BLINk. The WINk-backed gambling DApp held a token sale on BSC’s most popular yield farming platforms, PancakeSwap, BakerySwap, and Bounce.

According to BSCScan, the five largest Binance-pegged tokens by market capitalization are ETH, XRP, BUSD, LTC, and BCH at the time of writing. There are a total of 34,406 holders of the top five pegged assets.

The most popular pegged tokens by on-chain transaction volume are BUSD, WBNB, BUSDT, ETH, BTCB.

Currently, there were a total of **439,672 unique Binance Smart Chain wallet addresses, **following a one-day increase of 4,334 addresses.

On September 14, 2020, the BSC network processed the highest number of daily transactions, totaling 402,572. On that day, average block time was 3.00 seconds.

Currently, the average gas fee (transaction fee) amounts to 22.5560 gwei on Binance Smart Chain, making it one of the blockchain networks with the lowest transaction costs in the market.

The top three validators on Binance Smart Chain are Nariox, Defibit, and Coinlix, having validated 10,501, 10,499, and 10,499 blocks, respectively, at the time of writing.

What’s Next for Binance Smart Chain?

With the backing of Binance — arguably the most dominant company in the cryptocurrency industry — Binance Smart Chain is poised to establish itself as a user-friendly alternative for the largely Ethereum-based decentralized finance market.

As more developers build DeFi apps on BSC, and users continue to follow, we can expect the ecosystem to grow horizontally, adding a broader array of different types of decentralized applications to the BSC network.

Boosted by Binance’s $100 million seed fund for developers building on BSC and the chain’s high adoption rate in its first three months, it’s hard to envision the current growth trajectory to slow down anytime soon.

While it is unlikely that Binance Smart Chain will become an “Ethereum Killer,” its interoperability with the pioneering smart contract platform combined with low transaction fees and fast transaction settlement times may be the right ingredients for the chain to become a market-leading DApp platform on its own.

Trust Wallet: Your Gateway to Binance Smart Chain

Trust Wallet has been supporting Binance Smart Chain from the beginning by providing a secure storage solution for BSC-powered digital assets and a mobile-friendly way to interact with Web 3.0.

Using Trust Wallet’s DApp Browser, anyone with a smartphone can explore the world of Binance Smart Chain DApps and take part in the booming multi-billion dollar DeFi market.

Download Trust Wallet today and explore Binance’s latest addition to the cryptoverse.

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Build a dApp on Binance Smart Chain With Secure Data Feeds

In April 2019, popular cryptocurrency exchange Binance launched Binance Chain, a network built and optimized for fast exchanging, and the home of the BNB token. On Binance Chain, you can:

• Send and receive BNB
• Issue new tokens
• Send, receive, burn/mint, and freeze/unfreeze tokens
• Propose to create trading pairs between two different tokens
• Send orders to buy or sell assets through trading pairs created on the chain

Binance Chain is great for users looking to speed up their trading. However, it isn’t EVM-compatible and doesn’t support smart contracts, which is by design. To allow for smart contract creation, the Binance team also created Binance Smart Chain (BSC), a network that uses a Proof of Staked Authority (PoSA) consensus algorithm and that is EVM-compatible, enabling smart contract developers to build programmable dApps that natively integrate with the Binance Chain.

This dual chain architecture allows fast transactions on the exchange side, while still enabling smart contracts. The Binance team actually coined the term “CeDeFi”, or “Centralized Decentralized Finance”, to describe this hybrid approach, which makes the trade-off of using less decentralized architecture for additional transaction throughput, while still ensuring developers can deploy applications in a permissionless manner and use the same composable tools from Ethereum, such as Solidity and Chainlink Price Feeds.

The Binance Smart Chain Chainlink Price Feeds are available on Binance mainnet and can be used to build applications on BSC that require decentralized, tamper-proof data inputs. In this technical tutorial, we’ll walk you through how to work with Binance Smart Chain, the BNB token, and Chainlink oracles so you can quickly get started building externally connected smart contracts on BSC, even if you have no experience with Ethereum.

Building With BSC

Tools we’ll use

Since BSC is EVM-compatible, we can use the same tools from our Solidity environment, such as Truffle, Hardhat, MetaMask and more. In this tutorial, we’ll use Brownie, a Python smart contract development framework, to work with BSC, since Brownie has a powerful forking feature that we can use natively, as the Binance testnet currently doesn’t support the price feeds.

If you’re interested in running a Truffle or Hardhat program with Binance Smart Chain instead of Brownie, look into ganache-cli’s forking feature or skip ahead to where we talk about forking—we will mention how to run this with ganache. Forking with ganache-cli is what Brownie does on the backend when running our tests.

Requirements

• python3
• nodejs
• ganache-cli
• brownie

To check your Python version, in your terminal type:

For nodejs, type:

You can download python and nodejs here. Node comes pre-installed with npm . Then, make sure your have ganache-cli installed with:

Then finally, install brownie with

And now we are all set up!

Getting Started

Now that we have everything set up, go ahead and unbox the chainlink-mix for brownie. This is a boilerplate template for working with Chainlink smart contracts. If you want to learn more about it, you can learn how to deploy smart contracts of any blockchain with python in our blog here.

For working with mainnet or testnet Binance Smart Chain, you normally need the BNB token, similar to working with ETH on the Ethereum blockchain. When you deploy smart contracts, you’ll need to deploy them with BNB.

We are going to do everything 100% locally, so we don’t need any testnet ETH, LINK, or BNB to get started.

First, let’s bake the Brownie mix:

And we are in our project. If we run ls we can see what’s in our directory.

• build : This is where the project keeps track of your deployed smart contracts and compiled contracts
• contracts : The source code of your contracts, typically written in Solidity or Vyper
• interfaces : A layout of interfaces you’ll need to work with deployed contracts. Every interaction with a contract needs an ABI and an address. Interfaces are great ways to get a contract’s ABI
• scripts : Scripts we create to automate processes of working with our contracts
• tests : Tests
• brownie-config.yaml : This is where we have all the information for Brownie to understand how to work with our smart contract. What blockchain do we want to deploy to? Are there any special parameters we want to set? All these are set in the config file.

requirements.txt , README.md , LICENSE , and .gitignore can be ignored for now. You’ll find out what they are for as you practice.

We will be deploying PriceFeed.sol to our local environment that will be forked from the Binance main chain.

Adding a Forking Network

In order to work with the Binance Chain, we need a Remote Procedure Call (RPC) URL or host . This is a URL that we will make API calls to in order to connect with the Binance Smart Chain. If interested, you can also run your own Binance Smart Chain node and connect to that.

We can find the RPC URLs for Binance in their documentation. We will also need the ChainID. For now, let’s use these:

And last, we will need the Price Feed address of whichever Chainlink Price Feed we want to work with. The brownie chainlink-mix comes pre-installed with the Binance ETH/USD Price Feed, but if you want a list of all the Chainlink Price Feeds on Binance, you can always check the Binance or Chainlink documentation for more. If you look in the brownie-config.yaml file, you’ll see a section under networks called binance-fork . This has all the variables we need to work with a fork of Binance.

Now, we want to tell Brownie to use Binance to connect to, but we want to fork it. Forking a chain means taking a copy of that chain and running it locally, this way we don’t have to pay any gas and can iterate quickly with testing. It also means that once the forked chain is down, everything is deleted! We can add a fork of Binance to the Brownie network with the following command:

This will run a local ganache-cli chain on our localhost at port 8545. It will use https://bsc-dataseed1.binance.org as its source to fork when we deploy. If done correctly, you’ll see something like:

You can check all the networks by running brownie networks list .

Deploying Your Contract

Now that everything is set up, we can deploy and read from our contract on our local ganache forked chain. In the scripts folder there is a script called deploy_price_consumer_v3.py. We can run this with:

And you’ll see an output like:

1. Forked the Binance Chain and ran it locally
2. Deployed a smart contract to it
3. And read the price of ETH from it

Congratulations! You’re on your way to claiming some Binance bounties!

Going Further

Now that you know how to deploy smart contracts with Binance Smart Chain, you can go deeper into BSC, or even work with Matic, xDai, or other side chains and layer 2s. If you prefer Hardhat and Truffle, see if you can take the ganache-cli command over there and run some local tests. There are many hackathons coming up, so be sure to enter for a chance to work with other talented people in the space, win some prizes, and make your mark as a smart contract developer.

If you want to keep expanding the capabilities of your smart contracts, visit the Chainlink developer documentation and join the technical discussion in Discord. If you build something great with Binance Smart Chain, Brownie, Truffle, Hardhat, or any other Chainlink integration, be sure to tag us with @chainlink so we can check out all the cool work you do!

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