“Binance Smart Chain is becoming an important hub for developers looking to build applications, as demonstrated by the number of DeFi and NFT projects launched on the platform,” said Aaron Henshaw, head of engineering at Coinbase Cloud.
Bison Trails, an enterprise infrastructure provider for the blockchain and cryptocurrency industry, has extended support to developers of Binance Smart Chain — a move the company says will contribute to the health and security of the rapidly growing DeFi sector.
Through Bison Trails, developers on Binance Smart Chain, also known as BSC, will have access to validor node infrastructure, which allows them to run nodes and contribute to the security of the network. Specifically, Bison Trails is providing BSC with Query & Transact infrastructure, which allows developers to build applications more easily.
The partnership with BSC centers around the growth of DeFi and the Chain’s strategic decision to make decentralized finance more affordable through higher gas block limits and accelerated block times. Since launching almost one year ago, BSC has attracted over 180 projects to the platform. BSC daily transactions reached a record high of over 13.1 million on July 29 but have since fallen sharply, according to industry data.
Bison Trails now supports over 30 protocols, having announced several key partnerships over the past year. As Cointelegraph reported, some of the company’s most recent partnerships include Crypto.com and Provenance Blockchain Foundation.
Related: The perfect storm: DeFi hacks will advance the crypto sector moving forward
While DeFi adoption has grown significantly on BSC, so too have protocol hacks. In May of this year, a series of exploits targeting liquidity platform Spartan Protocol resulted in the loss of $30 million. Of course, DeFi plunder isn’t solely a BSC problem; Poly Network was recently exploited for $600 million, although the attacker reportedly intends to return the funds. Crowdfunding platform DAO Maker was also subjected to an attack earlier this month, resulting in the loss of $7 million. In July, THORChain was the target of attackers in the coordinated theft of roughly $8 million.
Nevertheless, DeFi continues to be one of crypto’s biggest growth stories. Total value locked in the industry is fast approaching record highs again, which is a testament to the market reversal currently underway following months of negative price action.
Related: Crypto market cap returns to $2T for the first time since May
