On September 25, 2020, Zora, Binance Taiwan community lead, hosted a live conversation with Eric, CTO and Co-founder of Math Wallet. During the livestream, Eric shared insights on the current DeFi blockchain ecosystem and discussed existing pain points in DeFi.
Regarding DeFi pain points, Eric highlighted performance as a significant issue. Performance limitations directly affect the overall network value, and improving performance can attract more users to DeFi. Secondly, there remains a conflict between public chain governance and the chain itself—when smart contracts encounter issues, it's difficult to upgrade the entire contract via the chain, potentially leading to deadlock situations. These current challenges in DeFi are both obstacles and opportunities.
As an early partner project on BNB Smart Chain, Eric pointed out key differences between BNB Smart Chain and Ethereum. First, BNB Smart Chain offers lower costs, and low gas fees allow users to capture more value from yield farming tokens. Second, BNB Smart Chain’s performance reaches over ten times that of Ethereum, providing a much smoother user experience. Many assets on Binance Chain can be bridged to BNB Smart Chain via Math Wallet, enabling interoperability between the two chains.
To discover more exciting stories, follow the official account @Qukuai101 to watch the full video replay. The views expressed by the guest do not represent the stance of Binance's "Qukuai101" program and should not be taken as investment advice. Please exercise caution.
