Building A Rowket On Binance Smart Chain
This article was originally published on The Daily Chain, 14th April 2021
Binance Smart Chain is Booming.
Proof of Staked Authority gives BSC, the Binance fork of Ethereum, a higher throughput than its progenitor, with transactions a fraction of the cost in dollar terms.
“As we’ve mentioned, BSC has extremely low fees. In BSC, 1 gwei is 10–9 or 0.000000001 BNB.”
Notoriously high fees on Ethereum are stifling innovation and encouraging some developers to launch projects on BSC. Simple tasks like minting NFTs are now so expensive that ETH is losing market share to its competitors, of which Binance’s offering is arguably the most threatening.
DappRadar, a website which tracks popular dapps on multiple smart contract platforms, shows statistics that reveal the significant growth of BSC in users and volume. This trend correlates with the rise of Pancake Swap, BSC’s cheaper alternative to Uniswap.
Whatever Binance Smart Chain might lack in decentralization it makes up for with affordability. Regarding the user experience there is no competition — Binance Smart Chain wins.
So it is within this thriving new ecosystem we find many new startups, some of them with surprising features.
Rowket (KET) aims to become the go-to NFT platform on BSC. This is a big ask, but if this little startup can capture even a small fraction of the NFT market on BSC it will be considered a success.
After the release of the market the roadmap promises an artist incubator, NFTs farming, and NFTs lending.
Citing the Rowket website, “NFT20 and NFTx protocols are used to bring fungibility to non-fungible tokens. It enables the pooling of NFT assets, which are then represented by newly-minted BEP20 tokens.”
Rowket’s lead developer is Lucas, a pseudonymous programmer who doxxed to Downsin, a high-profile figure in the BSC community.
“I’ve started getting into coding and software when I was a kid, mainly through hacking a few things,” recalled Lucas in a recent AMA. “Later I worked as a software engineer and developed software for clients like Allianz, among other large clients. And I studied economics and computer science.. but college is a scam.
“I’ve been heavily interested in blockchain and cryptocurrency since 2017 though and I’ve worked on a few blockchain projects and later went on to create Lightning. I’m kinda unironically in it for the tech, haha.”
Project lead KryptoKnight told The Daily Chain that Rowket recently “stealth launched with 10 BNB liquidity”.
The most original concept under development at Rowket is the artist incubator.
“Think of incubator like a music label for digital artists. We will doxx them, pick their best arts and bring them to the spotlight,” explained the Rowket lead, who has been actively involved in crypto since 2017.
Rowket Market is a good example of how projects with very limited resources can get started. Binance Smart Chain and Pancake Swap provide a great on-ramp for developers to deploy smart contracts at little cost, and for communities to use and explore them with little hindrance.
If you’re an aspiring artist you can apply for the Rowket incubator today! See the website for details.