ANI |
Updated: Sep 29, 2022 10:55 IST
New Delhi [India], September 29 (ANI/ATK): New cryptocurrency, Moshnake (MSH), is exciting the blockchain community like its predecessors, Binance Coin (BNB) and PancakeSwap (CAKE), thanks to their underlying blockchain — the Binance Smart Chain.
Binance Smart Chain (BSC) is a blockchain network from Binance and runs parallel with Binance Chain. However, BSC, in contrast to Binance Chain, supports the Ethereum Virtual Machine (EVM) and smart contract capabilities.
Additionally, BSC boasts of one of the quickest blockchain transaction times and most affordable fee structures, which attracts DeFi and Dapps developers to the protocol.
Currently, several exciting projects are operating on Binance Smart Chain, but the cryptocurrency list below stands out.
Binance Coin — The Top Dog Of The Binance Smart Chain Network
Binance Coin (BNB) is the utility currency of the Binance Smart Chain network. It also doubles as the native cryptocurrency of Binance Exchange, one of the world’s largest crypto exchange platforms.
Due to its outstanding historical performance, it is one of the most widely used and valued cryptocurrencies on the cryptocurrency market. The project has recorded an ROI of over 200,000% within almost five years of existence.
According to Coinmarketcap, it already ranks in the top 10 crypto assets by market cap, and its close connection to the Binance Exchange platform increases its popularity and appeal.
But other factors reinforce the coin market’s conviction that there’s more in store from this cryptocurrency. First, use cases for BNB, such as transaction fees and staking on DeFi protocols, are constantly expanding thanks to Binance Smart Chain and Binance.
Furthermore, Binance regularly burns “surplus” BNB coins. Burning cryptocurrency removes tokens from circulation, hence lowering its total supply. The idea behind this strategy is to increase the token’s value.
These factors are predicted to drive up the price of Binance Coin (BNB) to reach USD 1000 by 2025.
PancakeSwap — BSC’s Super DEX
Without PancakeSwap (CAKE), no cryptocurrency list of the most popular and successful projects on BSC is complete.
PancakeSwap (CAKE) is the most popular decentralized exchange (DEX) on the Binance Smart Chain. But it has evolved into a blockchain sensation in recent years due to its enormous liquidity, sizable user base, and user-friendly features.
Users can securely trade/swap several BEP-20 token pairs without relying on centralized intermediaries or relinquishing control of their private keys. In addition, smart contracts are used to execute all trades automatically, eliminating counterparty risks.
Furthermore, PancakeSwap (CAKE) features a native utility coin called CAKE that serves multiple purposes in this crypto platform. Its primary functions are staking, yield farming, and proposing and voting on governance proposals via the platform’s community governance portal.
With over 4 million monthly users and millions of dollars in daily trade volume as of the time of writing, PancakeSwap (CAKE) has already surpassed expectations and is showing no signs of slowing down.
Moshnake — Adding Dynamism To The Legendary Snake Game
Moshnake (MSH) is a new play-to-earn crypto platform in the decentralized gaming universe. Leveraging the game-changing impact of blockchain technology on online gaming, Moshnake (MSH) has revived the snake game euphoria of years past, ensuring snake game lovers can play and earn.
Built on the Binance Smart Chain, Moshnake (MSH) developers will deliver a user-friendly ecosystem while allowing users to create and own NFTS. Additionally, Moshnake (MSH) will provide users with a quick, cheap, and eco-friendly platform.
Moshnake (MSH) will use two tokens for its operations — Venom (VEN), used for in-game purchases, and Moshnake Token (MSH), used for governance.
Bottom Line
Binance Smart Chain (BSC) provides faster and lower-cost transactions than most blockchains. This allows developers to easily switch from the Ethereum (ETH) blockchain to BSC.
Additionally, Binance has announced a USD 100 million developer fund to fund promising projects, aggressively supporting the creation of new DeFi apps on BSC. This is great news for new cryptocurrencies such as Moshnake (MSH).
To join the MSH presale, click the links below.
Website: https://moshnake.io
Telegram: https://t.me/MoshnakeOfficial
Twitter: https://twitter.com/moshnakeToken
This story has been provided by ATK. ANI will not be responsible in any way for the content in this article. (ANI/ATK)
