Audit Date: 27 September 2022
ECOSYSTEM SCORE
27 September 2022
73
ALERTS
Sep 23, 2022

Scheduled Maintenance for API and Website: that will take approximately 3 hours. Some services might not be available during the maintenance.

Sep 08, 2022

Binance will perform wallet maintenance for 4 hours

Sep 01, 2022

Wallet maintainance has been completed on 31Aug

Aug 30, 2022

Binance wallet maintenance for three hours on 31 Aug

Aug 04, 2022

Wallet Maintenance for Multiple Networks

Jul 28, 2022

Binance outages reported in the last 24 hours on 25th july

REVIEW NOTES
Jul 06, 2022

Ecosystem Score is decreased due to unavailability of Grant Program.

Jun 30, 2022

Documentation Score has decreasd due to unavailability of Skeleton Code

Jun 30, 2022

Performance score is decreased due to error in Uptime.

Jun 24, 2022

Third Party Sevices Score increased as Cloud Provider is added.

Jun 22, 2022

Documentaion Score decreased due to unavailability of Skeleton Code.

Jun 22, 2022

Ecosystem Score has increased due to availability of Protocol Support

PERFORMANCE
Empty container
100
NODES

21 nodes

WRITE SPEED

1 ms

READ SPEED

345 ms

GAS FEES

4,557,600 gwei

UP TIME

100%

PERFORMANCE MATRIX VALUE MONITORED AT
Read Speed 345 ms
Gas Fee 4,557,600 gwei
Write Speed 1 ms
Uptime Percentage 100%
Node Count 21 nodes
Reddit Total Members Online 2,100 members
Reddit Total Members 876,000 members
Discord Total Subscribers Online 1,129 subscribers
Discord Total Subscribers 50,641 subscribers
Telegram Err 9 err
Telegram Ppm 44 ppm
Telegram Views Per Post 2,904 views
Telegram Total Subscribers Online 8,611 subscribers
Telegram Total Subscribers 154,154 subscribers
FOUNDATION TOOLS
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66
ESSENTIAL TOOLS
PROGRAMMING LANGUAGE SUPPORT
SDKs
DOCUMENTATION
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75
API DOCUMENTATION

Exists

100
NODE SETUP

Exists

100
SKELETON CODE

Doesn't Exists

VALIDATOR NODES

Exists

100
GRANT PROGRAM
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0
AVAILABLE GRANT

N/A

ADD-ONS
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81
THIRD PARTY SERVICES
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100
PROTOCOL SUPPORT
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40
ADOPTION
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100
DEVELOPERS

33

REPOSITORIES

24

COMMUNITY
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100

Overview

Binance is one of the most popular cryptocurrency exchange companies which later in 2019 announced the launch of its mainnet known as the Binance chain. It then went ahead to regulate the swap of its native token BNB or the Binance coin which was earlier regulated on the Ethereum blockchain.

Binance also has its own decentralized exchange platform for the Binance token. With its own DEX platform and mainnet, Binance has an ecosystem to issue new cryptocurrencies and various other initial coin offering tokens. It helps the ICOs, other new projects and tokens to increase their demand and value. This cryptocurrency exchange company has its native chain on which the users can issue, operate and trade with its native BNB token.

About BNB Chain

Binance Chain or the BNB Chain is one of the most efficient cryptocurrency exchange blockchains which is focused to deliver its fundamental infrastructure specifically for worldwide public adoption. It is a decentralized platform that is a community dedicated at its core and has a permissionless environment.

Binance Smart Chain and the Binance Chain have joined hands as BNB Chain since mid-February 2022. While token BNB(which was earlier known as the Binance Coin) has also been renamed as the 'Build and Build'. The Binance ecosystem has been completely renamed to develop an evolved ecosystem to promote the concept of MetaFi.

BNB Chain architecture

The BNB Chain is divided into three core parts:

  1. BNB Beacon Chain
  2. BNB Chain Governance for Staking and Voting
  3. BNB Smart Chain (BSC)
  4. EVM compatible chain with consensus layers and with the hubs to multiple chains
  5. BNB Token
  6. 'Build and Build' token also functions as a governance token

BNB Chain consensus algorithm

BNB Chain implements a consensus engine named Parlia developed on a network of a total of 21 validators which is quite similar to Ethereum’s Clique Proof-of-Authority consensus algorithm. This chain also functions based on the Delegated Proof-of-Stake(DPoS) consensus algorithm. It has the Epoch blocks for which the consensus engine will update the validatorSet from the BSCValidatorSet contract in proper time periods.

BNB Chain also has the Snapshot which functions as an assistant object to store all the validators and the current signers of all blocks. The Parlia consensus engine of the BNB Chain has some of the most distinctive attributes such as:

  1. Light client security
  2. Invokes system contracts for system transactions
  3. Enforces backoff before sealing the blocks

Key features of the BNB Chain

  1. Combined consensus mechanism of DPoS and the PoS
  2. EVM-compatible platform
  3. Smart-contract supported chain
  4. Cross-chain transfer and communication protocol
  5. Powerful dual-chain architecture for seamless dApp development
  6. Instant block finality

Founder of BNB Chain

Changpeng Zhao

Popular use cases of the BNB Chain

  1. Pancake Swap (Exchange IDO)
  2. Venus (Lending platform)
  3. Biswap (Exchange MVB)
  4. Ren (Cross-chain platform)