Binance Smart Chain vs. Ethereum (Comparison)

You may want to know about the Binance smart chain and the ethereum network and how they compare. This article will put you through all you need to know.

Binance Smart Chain (BSC) is a hard fork of the Go Ethereum (Geth) protocol, and as such, shares many similarities with the Ethereum blockchain. However, BSC developers have made significant changes in some key areas. The largest change is BSC’s consensus mechanism, which allows for cheaper and faster transactions.

Introduction

At first glance, Binance Smart Chain (BSC) and Ethereum look very similar. DApps and tokens built on BSC are compatible with the Ethereum Virtual Machine (EVM). You might have noticed that your public wallet addresses are the same on both blockchains. There are even cross-chain projects that operate on both networks. Nevertheless, there are some noticeable distinctions between the two chains. If you’re wondering which one to use, it’s best to know and understand the differences.

Blockchain traffic and DApp ecosystem

As of June 2021, Ethereum hosts more than 2800 DApps on the blockchain compared to roughly 810 on BSC. It’s a significant difference, but considering BSC’s young age, it shows a strong and growing ecosystem.

Active addresses are also an important on-chain metric to consider. Despite being a newer blockchain, BSC recorded a high of 2,105,367 addresses on June 7, 2021 – more than double Ethereum’s all-time high of 799,580 addresses on May 9, 2021.

So what’s the reason behind BSC’s sudden massive growth? A lot of it comes down to faster confirmation times and low fees. The BSC growth might also be related to the growing hype around NFTs and the compatibility with popular crypto wallets, such as Trust Wallet and MetaMask.

If we look at daily transactions, there’s an even larger difference between the two. On BSC, it’s quicker and more cost-efficient for users to move their funds and interact with smart contracts. You can see below BSC’s peak of around 12 million daily transactions and its current status at over four million.
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Binance Smart Chain vs. Ethereum (Comparison)

Posted by staff on July 19, 2021

Blockchain Ethereum


Binance Smart Chain vs. Ethereum (Comparison)

You may want to know about the Binance smart chain and the ethereum network and how they compare. This article will put you through all you need to know.

Binance Smart Chain (BSC) is a hard fork of the Go Ethereum (Geth) protocol, and as such, shares many similarities with the Ethereum blockchain. However, BSC developers have made significant changes in some key areas. The largest change is BSC’s consensus mechanism, which allows for cheaper and faster transactions.

Introduction

At first glance, Binance Smart Chain (BSC) and Ethereum look very similar. DApps and tokens built on BSC are compatible with the Ethereum Virtual Machine (EVM). You might have noticed that your public wallet addresses are the same on both blockchains. There are even cross-chain projects that operate on both networks. Nevertheless, there are some noticeable distinctions between the two chains. If you’re wondering which one to use, it’s best to know and understand the differences.

Blockchain traffic and DApp ecosystem

As of June 2021, Ethereum hosts more than 2800 DApps on the blockchain compared to roughly 810 on BSC. It’s a significant difference, but considering BSC’s young age, it shows a strong and growing ecosystem.

Active addresses are also an important on-chain metric to consider. Despite being a newer blockchain, BSC recorded a high of 2,105,367 addresses on June 7, 2021 – more than double Ethereum’s all-time high of 799,580 addresses on May 9, 2021.

So what’s the reason behind BSC’s sudden massive growth? A lot of it comes down to faster confirmation times and low fees. The BSC growth might also be related to the growing hype around NFTs and the compatibility with popular crypto wallets, such as Trust Wallet and MetaMask.

If we look at daily transactions, there’s an even larger difference between the two. On BSC, it’s quicker and more cost-efficient for users to move their funds and interact with smart contracts. You can see below BSC’s peak of around 12 million daily transactions and its current status at over four million.
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