IMPLEMENTATION OF NFT ON BINANCE SMART CHAIN (BSC) AND ETHEREUM WITH TOKEN FOR IMPROVED SPEED TRANSACTIONS AND CYBERSECURITY FOR BLOCKCHAIN

Abstract

The article analyzes the security aspects of two leading blockchain platforms, Binance Smart Chain (BSC) and Ethereum. Special attention is given to the overview of standard transactions using an NFT smart contract as an example. The implementation of a basic NFT marketplace on Binance Smart Chain (BSC) and Ethereum is examined, with the addition of a token designed to enhance transaction processing speed. The study identifies the key advantages and disadvantages of each platform in terms of information security and capabilities. The article includes tables comparing the main characteristics, such as transaction speed, transaction costs, scalability, consensus technology, popularity, and cross-chain support for a basic NFT marketplace, both without additional tokens and with a token for improved speed. Additionally, the main cybersecurity techniques that can be adapted depending on the specifics of the blockchain platform, goals, and infrastructure have been analyzed. The application of multiple layers of security is critical for protecting assets and ensuring user trust