Binance Smart Chain (BSC)
The Blockchain Of Choice
Last updated
The Blockchain Of Choice
Last updated
One of the most heavily researched and workshopped aspects of unRevealed is it's cryptocurrency backbone. Deciding on which blockchain to use is an important factor when considering the use and future of the unRevealed ecosystem.
Our three primary targets were the Ethereum Network, the Binance Smart Chain, and the Polygon Network.
When factoring in the most important aspects of the tokens within our project we've decided to launch unRevealed on the Binance Smart Chain.
We want to encourage transactions within the game, between players, in the marketplace, and on swaps. Doing so requires a lot of gas. And transaction gas fees are inherently cost prohibitive the higher they are.
While there is an incredible future ahead for multiple blockchains like Ethereum, Polygon (and so many more) as well as L2 and ZK rollups, any sort of prohibitive transaction fees were an important deciding factor in choosing our native blockchain. While the popularity of the Ethereum blockchain is attractive, it's token transaction fees are simply unsustainable for a new project to utilize without heavily leaning funding away from gamers.
Token gas fees are incredibly important to us as we want to encourage our players to interact with each other in-game. Examples of gas fees are below:
Ethereum (Jan 3, 2022)
Polygon (Jan 3, 2022)
Binance Smart Chain (Jan 3, 2022)
Ethereum's gas fees are simply too high for unRevealed to maintain a sustainable in-game economy. Players would find in-game transactions to be entirely cost-prohibitive.
While Polygon clearly has incredibly low gas fees relative to many other chains, it's instability in maintaining these fees and further instability in the network itself have provided some questionable use-case scenarios that could endanger the unRevealed platform.
One of the other major deciding blockchain factors is the network's volume and sustainability. It's an exciting time for many Layer 1 and Layer 2 options. However, along with that excitement comes a great amount of risk for dApp projects. Because of the amount of options users have, volume is being split between numerous outlets. unRevealed needs to position itself for exposure to as large as an audience as possible.
While the Ethereum network dominates the trade volume, our choice became quite clear when seeking out other options. Ethereum may be an outlet for unRevealed as a more established community and userbase when Layer 2/ZK options become more user friendly and accessible - but until then its volume can't outweigh the cost-prohibitive nature of transactions.
Transaction fees from top chains and projects are as follows: (as of Jan 3, 2022)
Obviously Ethereum absolutely dominates the volume of transaction fees. However, it's a bit misleading when it comes to transactions actually conducted.
The Binance Smart Chain is in second place with incredibly low transactions fees followed by other options like Avalanche, Solana, Polygon, etc.
The activity of the BSC compared to both the Ethereum and Polygon networks make it particularly attractive.
BSC sees roughly 5x the daily transactions than Ethereum does. Additionally, as of Jan 3rd 2022, the BSC number two gas consumer is a crypto game. While on the Ethereum network, the top gas guzzlers are NFT marketplaces and bridges.
The Binance Smart Chain is the perfect fit for unRevealed. It handles consistent low transaction fees, high speed, security, high volume, and the potential for future bridging.
