Why Binance Smart Chain?
MomoProtocol is going to launch its token on BEP20, i.e Binance Smart Chain.
DeFi applications thrive on the Ethereum platform having their transactional volume to expand largely recently. To an estimate, the gas fees per transaction are normally up to $20 - $30 with many hundreds of $ gas fees payable per DeFi transaction.
Layer 2 are technology solutions the securities of which are inherited from Layer 1 for processing more transactions and reducing the costs. ETH 2.0 is the most yielding Layer 2 which opens new pathways for the DeFi applications. Anyhow, the ETH 2.0’s roadmap of Momo protocol is foreseen as successful one in the long run. Sufficing, the Binance Smart Chain shall be a rewarding Layer 2 solution at momo protocol after its launch.
With an average $0.1fee per transaction, the Layer 2 will be attracting enough farmers to the DeFi applications.