CryptoClassic Launched on the Eco-Friendly Binance Smart Chain (BSC), Supports Governments’ Efforts on Climate Change

CryptoClassic, an ambitious payment-focused company championing confidentiality, anonymity, and liberty, launched on the eco-friendly Binance Smart Chain (BSC) before listing on five centralized cryptocurrency exchanges, including CoinTiger, as per the latest data on November 15.

The Strategic Decision to Launch on the BSC

The project, whose ideation phase started early 2021 before preparing launching operations in Q2 2021 and launched in Q3 2021, strategically chose the high throughput, Binance-backed BSC because of the ideals of the smart contracting platform. 

With the expansion of blockchain and the explosion of cryptocurrency-inspired projects launching to resolve current pain points, legacy ledgers are having a hard time adapting. 

Every day, on-chain transactions continue to rise as millions, if not tens of millions of transactions, are confirmed and added to immutable blocks, securing transactions. 

However, trading fees are painfully high in platforms like Bitcoin and Ethereum. 

Over the past two years, the user experience has been decimated in Ethereum because of unrealistically high Gas fees. 

In the pioneer smart contracting platform, ETH transfers can attract fees as high as $70, especially during congestion. 

On the other hand, deploying smart contracts or minting NFTs can lead to hundreds of dollars in ETH being charged by the network. 

Notably, Gas fees remain stubbornly high despite concerted efforts to promote the adoption of Layer-2 options such as Rollups and even activate EIP-1559.

Proof-of-Work Blockchains are Energy Inefficient, Indirectly Harming the Environment

Besides high trading fees due to scaling challenges, Proof-of-Work networks like Bitcoin and Ethereum have been blamed for being energy inefficient and wasteful. The high carbon footprint left for every transaction confirmed is alarming for environmentalists. 

Trackers show that the entire Bitcoin network uses 192.80 TWh, the equivalent of Thailand. At the same time, the carbon emitted from fuel sources to sustain the platform, keeping it immutable and operational, is the equivalent of 91.58 Mt of Co2, the size dispensed by Chile.

The energy wastefulness of Bitcoin is due to the deployment of miners who depend on energy sources to power their hungry gear—which is frustratingly rare and, when available, sells for thousands of dollars. 

The same trend can be observed in all other proof-of-work networks dependent on miners. Unique, the BSC adopted a different approach anchoring their primary objectives to ensure environment preservation and boost governments’ climate conservation efforts while remaining scalable, decentralized, and most critically, interoperable.

CryptoClassic will Bring Together BSC Protocols, CRC Token Listed in 5 Cryptocurrency Exchanges

With a good base layer that’s adaptable and environmentally friendly, CryptoClassic is now working on a platform that’s seeking to meet, among other objectives, develop a secure, easy-to-use global payment system. 

Because of the distribution of the BSC, the CryptoClassic platform is also distributed. This greatly helps the team build a portal that integrates other disparate BSC protocols. 

At the same time, their decision to build a reliable and safe blockchain infrastructure to set the standard of communication goes a long way in streamlining. 

The goal, especially to bring together BSC protocols, is well-thought-out considering the number of dApps deployed every day on the scalable, energy-efficient base layer. 

Additionally, by looking to advocate for privacy and anonymity, CryptoClassic is reminding the cryptocurrency community why blockchain-based solutions exist in the first place. 

As per the objective of the creator of Bitcoin, the goal was to create a power-diffusing, decentralized, and automated payment layer driven by the community. 

Similar to Bitcoin, CryptoClassic also plans to power a platform that will be useful in creating and executing complex financial transactions.

Reflecting its value proposition, less than a month after launching, the CryptoClassic’s native token, CRC, is now available for trading in five centralized exchanges, including CoinTiger—which has over $13 billion on average daily trading volumes—and PancakeSwap—the largest DEX on the BSC.

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