Bison Trails, a blockchain and cryptocurrency enterprise infrastructure provider, has extended support to Binance Smart Chain developers, a move the company claims will contribute to the health and security of the rapidly growing DeFi sector.
Developers on Binance Smart Chain, also known as BSC, will gain access to validor node infrastructure via Bison Trails, allowing them to run nodes and contribute to the network’s security. Bison Trails, in particular, is providing BSC with Query & Transact infrastructure, allowing developers to build applications more easily.
The partnership with BSC is focused on the expansion of DeFi and the Chain’s strategic decision to make decentralized finance more affordable by increasing gas block limits and shortening block times. Since its inception nearly a year ago, BSC has attracted over 180 projects. According to industry data, BSC daily transactions peaked at more than 13.1 million on July 29 but have since dropped precipitously.
Bison Trails now supports over 30 protocols, thanks to several key partnerships announced over the last year. Crypto.com and the Provenance Blockchain Foundation are two of the company’s most recent collaborations.
While DeFi adoption on BSC has increased significantly, so have protocol hacks. A series of exploits targeting the liquidity platform Spartan Protocol resulted in a $30 million loss in May of this year. Of course, DeFi theft isn’t limited to BSCs; Poly Network was recently exploited for $600 million, with the attacker reportedly intending to return the funds. DAO Maker, a crowdfunding platform, was also attacked earlier this month, resulting in a $7 million loss. In July, THORChain was the target of a coordinated theft of approximately $8 million.
Nonetheless, DeFi remains one of crypto’s most promising growth stories. Total value locked in the industry is quickly approaching record highs, a testament to the market reversal currently underway after months of negative price action.