Binance Smart Chain Advantages For Developers & BSC Historical Data Provision

Binance Smart Chain Advantages For Developers & BSC Historical Data Provision

Blockchain Knowledge

Crypto APIs Team

Jul 28, 2023 • 4 min

Binance Smart Chain (BSC) network is developed by Binance exchange in 2020, in a bid of introducing a more advanced blockchain protocol than Binance Chain - the Binance`s first protocol that the exchange created. As a more advanced protocol, the BSC network enables using smart contract based applications, greater transaction capacity and allows Ethereum-based applications to be executed, making it a Ethereum Virtual Machine (EVM) compatible.   

Similar to our previous blog post discussing the Tron blockchain, the Binance Smart Chain protocol is among the blockchains which are enjoying a very wide adoption and is among the most used protocols by software builders and start-ups.

BSC inception took place in times when the DeFi sector was in its very early days, slowly becoming a prominent and irreplaceable niche of the crypto ecosystem. As the interest in alternative decentralised finance solutions grew, so does the use cases of the blockchain protocol. Slowly, the Binance Smart Chain became a leading network enabling developers to create dApps, manage digital assets cross-chain and at the same time keep very low latency, but high capacity on transactions. 

Main Advantages Of BSC To Developers

The number of products and projects which were based on the BSC was growing at a very rapid pace after the introduction of the protocol, with the Ethereum blockchain losing momentum. This can be partially attributed to the numerous benefits that BSC provides to developers:

-Very low fees & high performance of the network - The BSC is a cost-effective solution with low fees when compared to other rivalling blockchains. It can also process large numbers of transactions per second, achieved through a delegated proof of stake (DPoS). 

-Large community and established ecosystem - being a product of Binance, developers have access to a large user base and a vibrant community. Also, Binance has been putting extra efforts in promoting their own blockchain to stimulate the creation of projects that will run on their network, accelerating the growth and adoption rate

-Cross-chain interoperability - The EVM compatibility that we mentioned above allows developers to easily connect/port applications running on ETH to Binance Smart Chain. In turn, the BSC adoption avoids scaling and fee issues which developers face with the Ethereum network. 

-Go-to-network for DeFi and DApp - Numerous decentralized applications, platforms, exchanges (DEX), farming pools and other types of projects are running on the BSC due to the opportunities that the network offers. This is also combined with the high volume of builders, creating their decentralized projects and products 

-Integration with Binance Chain - This allows transferring assets between the two chains in a seamless manner, providing higher degree of flexibility and convenience to both regular users and developers in terms of managing their assets.  

-Token Standards and Tools - BSC supports same token standards as ETH, which makes it easier for developers to work on both platforms. For instance, both ERC-20 and BEP-20 are supported. Also, various developer tools and documentation is available to software builders

-NFT support - BSC protocol was part of two trends - the DeFi trend, and the NFT trend, which allowed it to scale very quickly. Non-fungible tokens allow developers, artists and creators to explore the opportunities that this blockchain offers

BSC Historical

The provision of BSC historical data is part of our offerings, but please be aware that we can currently cast data for the following blocks:

-From 0 to 6899999: We are tracking data back from the creation of the genesis (first) block on the BSC, dating back from 29 August 2020. The 6899999 block was created on 26th April 2021. This means all data between 29 August 2020 and 26 April 2021 can be obtained by clients

-From 18680973 to the latest block created on chain: In terms of time period that we cover, all data after 14th June 2022 is accessible and can be provided to our clients 

Note that we are currently not providing BSC historical data which is contained in blocks between 6900000 and 186880972. This covers the period between 26th April 2021 and 14th June 2022. Our team is investing additional time and efforts to guarantee our clients that they will have access to this data as soon as possible.  

As with all other blockchains that we support, our platform users can obtain data for different token standards and all underlying assets, such as FTM, MATIC, AVAX and many others. 

We are ensuring access to data within 25ms as a response time, which we guarantee by indexed and synced database. You can review the entire set of data that can be provided along with an overview of our services in our technical documentation

In addition, real-time data is always available as part of our blockchain infrastructure suite offerings, if that is the type of data you require for your business.  If you are not sure how to get started, or how to get your BSC data, do not hesitate to contact our dedicated team, who will assist you in every step of your journey with us. 

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