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Guarda team prepares articles on the most relevant data for crypto newcomers as well as advanced users.
Thanks to a capacity to transfer value across borders at a shorter time period and at a lower cost compared to legacy systems, smart contract blockchains have long been considered to be a disruptive technology for the financial industry. However, most modern blockchain networks are overburdened and have high fees, limiting their opportunities. Fortunately, several high-efficiency platforms have emerged in recent years to tap into this potential to shake up the financial world.
Algorand is designed to bridge the gap between traditional finance and blockchain technology and facilitate the future of finance. It is creating next-generation financial protocols and products focusing on scalability, decentralization, and speed. Algorand is solving problems that other competing blockchains are facing. So, let’s dive into the details.
Binance Smart Chain (BSC) is a blockchain that runs in parallel with the Binance Chain. Unlike Binance Chain, BSC has smart contract functionality and compatibility with the Ethereum Virtual Machine (EVM). Binance Smart Chain is based on a system with up to 21 Proof-of-Stake-Authority (PoSA) consensus validators, that requires minimal block validation time and offers much lower fees.