Decentralized social media protocol Farcaster revealed on Wednesday that it is extending its support to BNB Chain (previously known as Binance Smart Chain). This addition aligns with the period when BNB is witnessing a rise in demand and has recently moved past XRP to become the third-largest cryptocurrency by market capitalization, as per the data provided by The Block.
Farcaster is a project that came into existence in 2020 by the initiative of ex-Coinbase executives Dan Romero and Varun Srinivasan. The platform is architectured to be in line with the principles of decentralization and open social applications. The protocol that was initially developed on Ethereum has been actively engaging with various ecosystems to extend its presence beyond one chain. Farcaster first partnered with Solana, and then with HyperEVM, the Layer 1 blockchain of the HyperLiquid decentralized exchange ecosystem.
The project intends to achieve a smooth transition of interoperability between the most significant blockchains, whose goal is to allow cross-chain swaps to be done in an instant without the need for bridging. In a post on X, Farcaster co-founder Romero summed up the vision for the near future: “Every asset and every chain that matters—BSC, HyperEVM, Solana, Base, ETH L1, etc.—instant cross-chain swaps, no bridging, and as close to zero trading fees as possible.”
Besides the Ethereum mainnet, the protocol is also available on several Layer 2s and sidechains such as Arbitrum, Base, Gnosis, OP Mainnet, Polygon, Unichain, and Zora.
The integration is a testament to Farcaster’s commitment to support networks that are in high-demand. BNB Chain, which is powered by Binance, has essentially evolved into one of the most popular ecosystems for EVM-compatible smart contracts and decentralized applications.
BNB’s price has been approximately 80% higher than it was three months ago. This price increase was brought about by the growing use of the network and the continuous token burns that lower the circulating supply. The demand surge has not only lifted BNB to a higher position in market rankings but has also solidified its role as a major player in the crypto economy.
Farcaster’s decision to extend its services when there is a growing competition among decentralized social platforms and blockchain ecosystems is very strategic. It is evident that developers are more concerned with issues of scalability, interoperability, and user adoption when they choose which chain to work on.
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