|

Breaking | Crypto News

Binance Searches For New Ways to Make BNB Chain Faster and Cheaper

Author

Jonathan Gibson

Tags

Reading time

2 mins
Last update

Author

Jonathan Gibson

Tags

Reading time

2 mins
Last update

Author

Jonathan Gibson

Tags

Reading time

2 mins
Last update

binance BNB Chain Binance DCA

Join our growing community


The Binance Smart Chain (BNB Chain) should become faster and cheaper according to its Directo of Ecosystem Growth Zoe Wei. During a recent conversation, he mentioned that he is optimistic about scaling solutions for this blockchain network. BNB Chain is among the largest blockchain networks in the world and it is trying to adapt to changing times in the crypto ecosystem. 

BNB Chain Searching for New Scaling Solutions

Scaling issues are very common among the largest blockchain networks in the market. Bitcoin (BTC), Ethereum (ETH) and BNB Chain have been affected by scaling problems. This situation has pushed investors to search for alternative blockchain ecosystems. However, Zoe Wei, the director of Ecosystem Growth of BNB Chain, remains optimistic about the future of this network. 

Binance is working right now on multiple Layer-2 scaling solutions that could help BNB Chain become better and more efficient over time. Wei explained that these Layer-2 solutions are not cheaper but they are also faster. 

On that matter, he said:

“The main reason we’re looking at various scaling solutions for BNB Chain is that we aren’t the cheapest blockchain out here. Also, we want to be much faster, because web2 systems are still faster than us. So that’s why all L1s including BNB Chain, need scaling solutions.”

BNB Chain needs to compete with other blockchain networks such as Ethereum or Tron (TRX), which have been in the market for multiple years. New blockchain networks are also being developed, but Binance needs to keep ahead of competitors. 

Over the last few years, there have been multiple developments in the Binance ecosystem. Binance started as a cryptocurrency exchange and it is now one of the largest interconnected networks in the cryptocurrency market.