MetaGold is a digital gold-backed token that runs on the Binance Smart Chain
(BSC). The Binance Smart Chain is a blockchain platform that is based on the
Ethereum network and is built to
provide high-performance, low-cost and secure smart contract execution. By
running on the Binance Smart Chain, MetaGold benefits from its high-speed,
low-cost transactions, and security
features.
One of the main advantages of running on the Binance Smart Chain is the fast
transaction speeds. Binance Smart Chain can process several transactions per
second, which means that MetaGold can
be transferred and traded much faster than other blockchain networks.
Another advantage is the low transaction costs, because the Binance Smart Chain
is built on a Proof of Staked Authority (PoSA) consensus mechanism, it doesn’t
require as much computational
power as other consensus mechanisms like Proof of Work(PoW) so the fees are low.
Binance Smart Chain is also designed with security in mind, and it has
implemented several measures to protect its network and its users. This includes
a robust smart contract security model
and a built-in oracle system, which allows for the integration of off-chain data
into smart contracts.
Additionally, by running on Binance Smart Chain, MetaGold can access to the
Binance ecosystem, and the large user base that Binance has, which allows for
higher liquidity and more
opportunities for trading.
In summary, by running on the Binance Smart Chain, MetaGold can benefit from its
high-performance, low-cost and secure smart contract execution. It also benefits
from Binance ecosystem, fast
transaction speeds, low transaction costs, and enhanced security features.