How does the Samecoin Ecosystem function in Binance Smart Chain?

Binance Smart Chain (BSC) is a blockchain developed to handle high-performance decentralized applications (DApps). The blockchain was designed to accommodate cross-chain transactions that have since revolutionized the application of blockchain technology.

The Samecoin team have identified the benefits of Binance Smart Chain and developed a platform — the Samecoin ecosystem, that can fully function in the Binance Smart Chain. BSC had curved itself as a scalable solution that outperforms the likes of Ethereum blockchain that almost crashed when the Crytpokitties craze was at its peak.

The Samecoin ecosystem is carefully designed to take full advantage of the Binance Smart Chain’s scalability while also offering a unique product to the crypto world. Well, what exactly is the Samecoin protocol that makes up the core of Samecoin Ecosystem?

The Samecoin protocol and its ecosystem

Samecoin Finance (The Core)

Samecoin Infrastructure (The Application)

Samecoin Governance

The Samecoin Protocol and how it makes the ecosystem functions

  • Mints Samecoin and its stablecoins
  • Rewards users for Staking and Minting with Samecoin
  • Governance is done through vSamecoin
  • Performs deflationary procedures by burning Samecoin.
  • Burns SameUSD (SUSD) and other Samecoin’s stablecoins within the ecosystem to maintain a stable reserve.

Making Samecoin function in the Binance Smart Chain

To interact with Binance Smart Chain (BSC) dApps from the Samecoin ecosystem, you’ll need a SamePay wallet since it is compatible with the Binance Smart Chain that supports the BEP-20 token standard. You are free to use any BEP-20 friendly wallet.

Because BSC is EVM-compatible, it supports a broader range of Ethereum tools and DApps. This makes it easy for developers, including Samecoin’s to port their projects over from Ethereum. The fact that Samecoin and its family of stablecoin are available on BSC, makes them cheaper and faster to use, owing to the properties of BSC.

Conclusion