Binance Smart Chain (BSC) is a blockchain network built for running smart contract-based applications. BSC runs in parallel with Binance’s native Binance Chain (BC), which allows users to get the best of both worlds: the high transaction capacity of BC and the smart contract functionality of BSC.

Furthermore, Binance Smart Chain also implements the Ethereum Virtual Machine (EVM), which allows it to run Ethereum-based applications like MetaMask.

The aim of the platform is to enable developers to build decentralized applications (DApps) and help users manage their digital assets cross-chain with low latency and large capacity. The BSC community made the network even more appealing to new users as a cost-effective and stable alternative, by lowering its gas fee from 15 Gwei to 10 Gwei.

Paralink Network has built the integration of the Paralink node with BSC. Users can run the node and start using Paralink Network oracle contracts and discover the functionality of PQL and its ease of use.

Going forward

We believe BSC is one of the most suitable technology stacks for the  DeFi landscape. Its low transaction costs combined with higher throughput make it an excellent choice for oracle solutions to provide real time and cost accessible data. DeFi applications depend on such data as it empowers financial derivatives, insurance contracts, gambling applications and much more. We are very excited to contribute to the ecosystem with our easy to use oracle solution. Our oracle contracts use BSC’s native token (BNB) for fees, which will make the adoption easy for everyone building their DeFi project on BSC.

In light of this announcement we are preparing a Paralink Network BSC partnership program which will help projects running on BSC to deploy Paralink Network oracle contracts by offering them technical support throughout the implementation process. The details of the program will be announced shortly.

Paralink Network offers a multi-chain oracle platform for DeFi and other blockchain applications. Applications that require the highest degree of security can use Paralink’s on-chain consensus algorithm, running on Polkadot Substrate. Paralink’s flexible node design allows developers to query for real-world events, sports, weather, random numbers and more. Developers can create custom queries using Paralink Query Language and connect smart contracts with traditional APIs within minutes.



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