Is Binance Smart Chain Being Run 'Like the Project of a Stoned Teenager?' Two BSC Execs Answer - Ep.310

Unchained

Laura Shin

News, Tech News, Business News

4.6 • 1.3K Ratings

🗓️ 18 January 2022

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

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Summary

Binance Smart Chain is the third largest chain by TVL and its token, BNB, is the third-largest token by market capitalization. However, there are questions about hacks, centralization, lack of developer support, and sketch MEV transactions. On Unchained, Gwendolyn Regina, investment director of the Binance Smart Chain Growth Fund, and Samy Karim, ecosystem coordinator at Binance Smart Chain, give a candid interview discussing BSC, from its amazing growth in 2021 to some of the toughest questions surrounding the chain. Topics covered include: how and why BSC grew from 50,000 daily active users to about 7 million over the course of 2021 what differentiates Binance Chain and Binance Smart Chain why Binance Smart Chain decided to design its blockchain with only 21 validators how Gwen and Samy envision BSC fitting into a multichain future what plans BSC has to scale its throughput why blockchain gaming is so important to BSC and how it will use its $1 billion growth fund to grow the gaming aspect of the chain how BSC’s relationship between Binance and BNB works In the second half of the show, Sam and Gwendolyn respond to a few critiques, such as: is BSC really innovating, or is it just a copy and paste blockchain of Ethereum? why are there so many failed transactions on BSC? how is BSC addressing the numerous hacks on the blockchain? why has BSC’s share of total value locked among smart contract blockchains fallen from 20% in May to 6%? how is BSC attempting to help developers, who, according to some critical posts, are struggling to work with BSC? why does it appear that some validators are front running without risk? does BSC have a future if Ethereum scales? what does BSC have planned for 2022? Thank you to our sponsor! Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021 Beefy Finance: https://beefy.finance Alchemy Pay: https://alchemypay.org Episode Links Gwendolyn Regina Twitter: https://twitter.com/gwendolynregina?lang=en Website: https://www.gwendolynregina.com/ Samy Karim LinkedIn: https://www.linkedin.com/in/samsulkarim/ Twitter: https://twitter.com/cryp7omaxi Binance Smart Chain Website: https://www.binance.org/en Documentation: https://docs.binance.org/index.html Binance Validator Reqs: https://academy.binance.com/en/articles/a-quick-guide-to-bnb-staking-on-binance-smart-chain-bsc Whitepaper: https://dex-bin.bnbstatic.com/static/Whitepaper_%20Binance%20Smart%20Chain.pdf Binance 2021 Recap https://twitter.com/gwendolynregina/status/1476089910498971648 Misc Top BSC apps: https://dappradar.com/rankings/protocol/binance-smart-chain Criticisms “Stoned teenager:” https://github.com/binance-chain/bsc/issues/553 NullQubit: https://github.com/binance-chain/bsc/issues/658 Other Larry Cermak: https://twitter.com/lawmaster/status/1359426876440207361 Wilson Withiam: https://twitter.com/WilsonWithiam/status/1381420702918664194 Ryan Watkins: https://twitter.com/RyanWatkins_/status/1381421858675953665 BSC Research Nansen: https://www.nansen.ai/research/the-binance-smart-chain-scalability-in-action Bison Trails: https://bisontrails.co/guide-to-bsc/ Decrypt: https://decrypt.co/58654/how-binance-put-the-smarts-in-its-smart-chain https://decrypt.co/57420/binance-smart-chain-is-starting-to-rival-ethereum-heres-why Messari (Pro): https://messari.io/article/exploring-the-binance-smart-chain-ecosystem Galaxy Digital: https://docsend.com/view/tdgbf4sfmyd7sr3m Twitter questions I received about Binance Smart Chain https://twitter.com/laurashin/status/1480582386677133313 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hi, all. I just wanted to share with you a blurb that Ralph Powell, co-founder and CEO
0:05.4	of Real Vision, wrote about my book, The Cryptopians, which comes out February 22nd. He said,
0:11.7	Laura Shin brilliantly lays out the untold story of the rise of Ethereum amidst the crazy
0:17.3	times of the crypto boom of 2015 to 2017. A story of high drama played out in the big
0:23.4	stakes world of cryptocurrencies and cutting-edge technologies with a cast of characters worthy
0:28.7	of a thriller novel. The only difference is that this incredible tale is all true, and
0:34.3	the hero of the story, Ethereum, has gone on to even greater things. This impeccably researched
0:40.2	book is a must-read for those wanting to understand the complexities and realities
0:44.9	of creating one of the world's great technologies.
0:48.3	If you have not yet pre-ordered a copy of The Cryptopians, then don't forget to go to
0:54.4	Bitly slash Cryptopians, that's b-i-t dot l-y slash c-r-y p-t-o p-i-a-n-s, to pre-order
1:01.9	your copy today. Again, the link to pre-order is Bitly slash Cryptopians, and now on to
1:08.4	the show.
1:10.4	Hi, everyone. Welcome to Unchained, your no-hype resource for all things crypto. I'm your
1:18.0	host, Laura Shin, a journalist with over two decades of experience. I started covering
1:22.9	crypto six years ago, and as a senior editor at Forbes, was the first mainstream media
1:27.8	reporter to cover cryptocurrency full-time. This is the January 18, 2022 episode of Unchained.
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