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The cryptocurrency sector has been growing at an extremely fast rate and the entire crypto infrastructure is based on blockchains. Every cryptocurrency that is currently revolving in the crypto-verse is flowing through the blockchain networks. However, not every blockchain is able to offer the same kind of utility, benefits, and services.
Ever since the advent of the crypto-verse back in 2009, many blockchains have been lost. However, among all the blockchains, there are two blockchains that are considered the best. These blockchains include the Ethereum blockchain and the second one is the Binance Smart Chain.
Ido Fishman, who is known for having a great amount of knowledge in the crypto-blockchain sector has decided to talk about the duo today. Ido Fishman has laid out the functions and the benefits of these blockchains that are considered better than any other blockchain network in the sector.
He has defined the differences between the couple so let’s see what you would see different among these assets.
When the Ethereum blockchain was launched more than half a decade ago, it was considered the best creation in the entire crypto-verse. The blockchain was extremely fast but with time, like its reputation, adoption, and trading volume grew, its scalability became a problem.
Ido Fishman, who is known for having a great amount of knowledge in the crypto-blockchain sector has decided to talk about the duo today. Ido Fishman has laid out the functions and the benefits of these blockchains that are considered better than any other blockchain network in the sector.
When the Ethereum blockchain was launched more than half a decade ago, it was considered the best creation in the entire crypto-verse. The blockchain was extremely fast but with time, like its reputation, adoption, and trading volume grew, its scalability became a problem.
When it comes to transaction costs, you would see that the Ethereum blockchain can turn out to be very cruel to the users. If a user wishes to make a transaction through the Ethereum blockchain, they will need to pay a handsome processing fee. Whereas, the transaction fee on the Binance Smart Chain is extremely low.
To be precise, a transaction processed through the Ethereum blockchain may cost close to or over $20. On the other hand, transactions processed through the Binance Smart Chain would only cost somewhere between $0.02 and $0.10.
Despite Binance Smart Chain winning the competition in terms of scalability and transaction fees, the Ethereum blockchain still has a high tendency of being adopted by crypto users.
This is because while the Binance Smart Chain is mainly centralized, the Ethereum blockchain is fully decentralized in nature. Therefore, the decision is up to the discretion and preference of the users whether they want a centralized blockchain or a decentralized one.
If you want useful information and the latest news surrounding the blockchains from Ido Fishman, keep coming back for more.
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