The protocol Binance Smart Chain is one of the most exciting spaces for staking and other such projects, and Liminal is one of the proud supporters of Binance Smart Chain.
Binance Smart Chain or BSC is an innovative solution for introducing interoperability and programmability on Binance Chain. It uses a system of 21 validators leveraging the Proof of Staked Authority or PoSA consensus, thereby enabling lower fees and reduced block times.
In a short span of 11 months, Liminal’s users have processed over 20 million dollars using the Binance Smart Chain network.
Liminal currently supports 14 chains and 1800+ tokens. You can view the complete list along with the roadmap here.
Wallet Characteristics of Binance Smart Chain
Blockchain-specific wallet characteristics in BNB Smart Chain
For EVM chains like Binance Smart Chain, multisignature wallets were not available at the protocol level. The developers decided to use smart contracts for this use case. DeFi applications are widely used in EVM chains, primarily to earn, yield, swap tokens, lend and borrow.
Liminal infrastructure in BNB Smart Chain
At Liminal, cold multisig wallets are built on top of Gnosis Safe and MPC wallets are used for hot deposit wallets with the ability to generate multiple addresses for receiving user deposits. Refill wallets are used to automate refilling withdrawal wallets, and an algorithm is built into the infrastructure to enable up to 15% gas fee saving and transaction confirmation guarantee. Liminal provides for DeFi integration through WalletConnect/MMI-based integrations.
How can institutions access Binance Smart Chain on Liminal?
- Institutions will have access to Liminal’s secure storage and trading ecosystem with immediate effect.
- Liminal added the BSC token to the 1800+ tokens of digital assets supported across Liminal’s infrastructure.
It’s that easy to transact BSC on Liminal Network.
How can staking institutions access BNB Smart Chain on Liminal?
- Liminal dashboard via WalletConnect
- Liminal DeFi API
“Binance Smart Chain was one of the most requested protocols by our clients. Adding it to the platform was a no-brainer. “
About Binance Smart Chain
Binance Chain, which was renamed BNB Beacon Chain in 2022), was launched by Binance in April 2019. Its primary focus is to facilitate fast, decentralized (or non-custodial) trading. Perhaps unsurprisingly, the biggest decentralized application (or DApp) on it is Binance DEX, one of the friendliest decentralized exchanges out there. You can use it via a web interface at binance.org or through its native integration with Trust Wallet.
Due to limitations inherent to blockchain systems, however, the chain doesn’t have much flexibility — smart contracts in a system optimized for fast trading could significantly congest the network. Remember CryptoKitties? At the height of its popularity, it brought the Ethereum blockchain to a standstill.
Scalability remains one of the most challenging hurdles to blockchain development. And that’s where Binance Smart Chain comes in.
Resources: You can find their resources below:
– Technology Platform
Liminal is an enterprise-grade platform that offers a robust infrastructure for securing digital assets. Liminal enables crypto-native companies to securely scale their digital asset operations through automated, plug-and-play wallet infrastructure.
Our security-first approach allows projects to define customized policies and assign roles to users based on their responsibilities. Liminal’s zero key leakage tolerance approach helps companies eliminate the risks associated with digital asset transfers, such as cyber-attacks, internal collusion, and human error.
Liminal’s operations excellence framework provides efficient fee management, transaction confirmation guarantees, seamless onboarding, and other wallet operations. Our unified interface ensures the same wallet management experience for multiple blockchains. Our proprietary regulatory readiness program, which includes AML checks, travel rules, and CCSS-compliant platforms, helps projects fast-track their compliance journey.
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