Why Binance Smart Chain and PancakeSwap remain an important part of DeFi

The blockchain analytics platform Nansen has analyzed user activity on Binance Smart Chain (BSC) and revealed the most interesting trends in a new research report.　　Created as a “parallel blockchain” to Binance Chain, BSC delivered programmability and smart contracts to developers interested in launching their tokens on the network, ushering hundreds of projects, such as PancakeSwap (CAKE), Venus (XVS), Auto (AUTO) and Beefy Finance (BIFI), to name a few.　　The competitive advantage of BSC　　BSC works on a Proof of Staked Authority (PoSA) consensus mechanism, where participants stake Binance Coin (BNB), the native coin of Binance Chain, to become validators.　　While compatible with the Ethereum Virtual Machine (EVM), the blockchain that “was created as a scalable infrastructure to handle a large number of low-cost DeFitransactions without compromising speed,” reaps the support from the vast variety of Ethereum tools and decentralized applications (dApps).　　As the report pointed out, “one competitive advantage of BSC over Ethereum (ETH) is that the gas price, or rather the cost necessary to perform a transaction on the network, is significantly cheaper.”　　At its peak, the number of transactions on BSC was about 10 times higher than on Ethereum, indicating an inverse relation of gas price and a number of transactions.　　Stablecoin adoption　　According to