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Binance Smart Chain is growing, but is it really competition for Ethereum
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The DeFi world is pretty much ruled by Ethereum. We all know that. And yet, Binance has managed to climb the ranks and consolidate its second position in the space. Over the past few months, Binance Smart Chain has gained in terms of TVL and protocol.
However, looks like it is now also gaining the interest of developers and investors more than ever.
A recent report from Moralis found that since July 2020, well before it even launched, the development teams on the chain have been doubling every month. In fact, currently, the figure stands at almost 8000 teams.
Development teams on BSC | Source: Moralis – Binance
Since August alone, the count of development teams has risen by over 300%.
Plus, this interest in BSC does not appear to be waning
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