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Will Binance Smart Chain Be Able to Handle 20 Million Transactions Daily? CZ Answers


u.today 31 July 2021 16:04, UTC
Reading time: ~2 m

Binance Smart Chain, a smart contract platform by the world's leading crypto exchange, Binance (BNB), witnesses an unparalleled upsurge in the number of transactions.

20 million+ transactions for BSC

According to the celebratory tweet by CEO and co-founder of Binance (BNB) Changpeng "CZ" Zhao, Binance Smart Chain yesterday processed eight times more transactions than Ethereum (ETH).

#BinanceSmartChain handled 10M+ transactions yesterday.#Ethereum handled 1.2M.

— CZ 🔶 Binance (@cz_binance) July 31, 2021

He announced that BSC processed more than 10 million transactions while Ethereum (ETH) handled only 1.2 million.

The Binance Smart Chain (BSC) transaction count spiked more than three times in two weeks. On July 29, it touched the eye-watering level of 13.17 million, per BSCscan explorer.

Asked about BSC's ability to process 20 million transactions, CZ hinted at close stress tests:

Not an expert. But I think we will find out soon enough.

Is GameFi responsible for the new record?

It looks like Binance's CZ found the most unusual way to congratulate Ethereum (ETH) on the sixth anniversary of its mainnet.
Binance Smart Chain is far from being the only network that has witnessed an upsurge in transactional activity in the last few days.

As covered by U.Today, the Tron (TRX) daily transaction count peaked at 9,278,050 txs two days ago.

The increase of activity across the fastest-growing smart contracts platforms—BSC and Polygon (MATIC)—should most likely be attributed to the developing euphoria around "gamified DeFis," the "Play-and-Earn" environments.

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