Reasons Why You Should Be Excited To See STARS On Binance Smart Chain
The STARS token and Mogul are now officially available on Binance Smart Chain (BSC). This post will explain why and guide you through the advantages of interoperability on Binance Smart Chain.
What is Binance Smart Chain?
Binance Smart Chain is the company’s most fashionable and well-known asset nowadays.
BSC and Ethereum differ in that BSC employs a consensus mechanism known as Proof of Staked Authority. I won’t go into detail about it here. All you need to know is that it enables quicker transaction speeds and lower transaction costs than most other blockchain consensus techniques. This can be a significant benefit for small users!
Binance Smart Chain has seen exponential increase in on-chain usage and daily address growth since Mogul debuted in February 2021 — almost 250k addresses every day!
This is very amazing when compared to Ethereum, which has been the gold standard as a smart contract platform for many years. Despite the fact that Ethereum has grown in the same time frame, their daily average is closer to 150k wallets.
Binance Smart Chain and Mogul: A Star-Studded Partnership
Consider the major benefits the migration brings to Mogul now that you know what Binance Smart Chain is and how quickly it has grown since Mogul’s inception.
Marketing
With the crypto market having matured significantly over the last decade or so, marketing and brand awareness are becoming increasingly essential in the crypto world.
As a result of this tendency, crypto initiatives based on popular culture are becoming increasingly popular. Crypto has proven to be beneficial in a variety of fields, including athletics, music, art, and, most recently, movies. That’s why NFTs have exploded in popularity in the last year.
This demand has had an unfavorable effect on crypto users. Because of escalating smart contract fees, the cost of trading tokens between projects on the Ethereum blockchain is increasing. The platform Binance Smart Chain has substantially reduced costs, but the advantage of using it isn’t only about saving money.
BSC is linked to Binance, a name that many seasoned cryptocurrency users are familiar with and trust. BSC not only makes obtaining STARS tokens cheaper and faster, but it also lets holders to connect with the Binance ecosystem.
Growing number of Mogul members are migrating to BSC in pursuit of reduced costs and faster transaction times.
That is why landing on the Binance Smart Chain is Mogul’s top objective.
Speed and Efficiency
A block on the BSC blockchain may be validated in under three seconds. This is due to the proof-of-stake consensus process discussed in the previous sections. In comparison, one block on the Ethereum blockchain might take up to 13 seconds to validate.
If you’re not sure what block time means, consider that BSC can handle over 50 transactions per second compared to Ethereum’s 15 transactions per second. It’s a significant change!
This makes it more easier for STARS token holder, to do transactions on BSC!
Low Transaction Fees
Because the crypto market is in a downturn at the time of writing, there aren’t as many transactions being completed on the Ethereum blockchain as there were six months ago. On the Ethereum blockchain, you may now conduct a transaction for four or five dollars. That may not seem like much, but a transaction on BSC costs approximately 15 cents on average.
Ethereum block users have been spending more than $100 for a single transaction on decentralized exchanges like UniSwap in recent months.
Access to Decentralized Applications on BSC
With STARS live on BSC, the Mogul community will have access to a diverse set of decentralized apps (DApps) with a variety of features, perks, and benefits.
There are now 991 distinct DApps accessible in BSC. This means you may take advantage of a variety of additional possibilities while keeping transaction expenses to a minimum. The fact that Binance has so many DApps with so much promise and efficiency just adds to the STARS token’s long-term use.
Here’s to lower fees, quicker speeds, and the Mogul ecosystem’s continuing development!
About Mogul Productions
Mogul is a decentralized film financing platform that brings
creators, fans, and film financiers together; allowing everyone to play a part in the next big blockbuster.
For More Information about Mogul Productions:
Website: https://www.mogulproductions.com/
Telegram Group: https://t.me/mogulproductions
Twitter: https://twitter.com/@mogulofficial_
Reddit: https://www.reddit.com/r/mogulproductions/
Medium: https://medium.com/mogulproductions
