Morning
Tron based decentralized blockchain protocol, Centric announced migration to Binance Smart Chain. Platform's two tokens Centric Cash (CNS) and Centric Rise (CNR) will move to the BEP-20 token standard.
Centric’s CEO, Joel Clelland said:
We’ve been watching the BSC community develop, and we are impressed. BSC’s reputation aligns well with how we see Centric and will allow us to scale.
Recent Defi expansion on BSC is the main reason, as the protocol is looking to tap into booming Defi space. Moreover the rising transaction cost on Tron in comparison to BSC has also been touted as an impetus behind the move.
BSC has been a huge success so far, putting aside the recent hacks and rug pulls. Daily no transactions on BSC is already 6X times than on Ethereum. Plus the transaction cost is fractional when compared to Ethereum network gas fees.
However, there have been apprehensions about BSC being centralized and less secure as it utilizes 21 daily selected validators in contrast to huge validators on Ethereum. Regardless of the concerns, plethora of new platforms have been emerging on nascent blockchain and even migration is taking place from other blockchains. Last week, DeFi Oracle Umbrella Network announced migration from Ethereum to BSC to cut down operational cost.
Fingers Crossed!!!
