Another feat for the Binance Smart Chan (BSC) as the network hit 100 million unique addresses. Although, the network’s gaze is set on over 1 billion unique addresses. Coincidentally, the BSC network achieved this feat after the meet-up at Dubai and a further investment of $1 billion for the development of projects on the network.
The Binance CEO, Chengpeng Zhao, surprisingly showed up for the recent meet-up in Dubai. This is the first meet-up the Binance boss would attend since the Covid-19 lockdown. In the meet-up, the CEO addressed the recent criticism against the network for “shifting towards more Centralization Finance.” CZ clarified that making a move towards Centralized Finance doesn’t change the company vision of DeFi being the future of finance but it is a technique to get more countries to adopt cryptocurrencies.
The BSC network recently invested $1 billion more in the development of projects. The fund is aimed to speed up the adoption of digital assets and blockchain technology worldwide. Also, with the funds, the community aims to increase the reach of the BSC network to further 1 billion users. A breakdown of how the funds will be used, 10% of the incentive goes to developers and investors on the network and liquidity incentive programs, respectively; 30% of the fund is aimed at increasing builder programs on the network, and 50% of the fund is for incubation and investment programs.
With the new assurance by the BSC network CEO that the network doesn’t plan to go back on its original plan for complete decentralization, we can expect more growth on the network. Although the BSC network is not where it wishes to be in terms of unique addresses, the next years look very promising.