A detailed comparison between two blockchain platforms of my choice: Binance [BNB] and Ethereum [ETH] || Steemit Crypto Academy | Season 2: Blockchain and Platforms by @alphafx

Before I continue, I want to state it clear that all blockchains are good and no one overrides the other but then, people prefer one over the other for a few reasons and I will be doing a very detailed comparison between two blockchain platforms. Thanks to @alphafx, I will be sharing a detailed comparison between two blockchain platforms Ethereum (Ether) and Binance (BNB).

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Ethereum

Ethereum founded by Vitalik Buterin in 2014 was the altcoin that started smart contracts and Defi with Ether being the coin for the ecosystem. Ethereum is regarded as the world's second cryptocurrency and blockchain platform and I will say this is a result of price. It coin "Ether" can be used to send, and receive funds as well as convert to other types of cryptocurrency. Its blockchain initiated the Initial Coin Offering (ICO), creating an avenue for startup cryptocurrency projects to raise funds. The ICO boom happened in 2017-18 and Etherem was the blockchain to look at. Since it started smart contract, having Dapps isn't going to be a problem. Ranging from games, finance, and so on, Ethereum has thousands of Dapps and its Dapps increased with Defi exchanges being built on the blockchain.

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There are 115,457,398 ETH in circulation as of the time of writing and Ether is being mined to a yearly cap of 18 million ETH. Ethereum tokens exists in ERC-20, and ERC-777 tokens. Ethereum uses proof if work and sharded Proof-of-Stake consensus (introduced recently). With Ethereum, miners and stakers get reward from the newly mined ETH.

Fees is one problem to the Ethereum blockchain. Ethereum charge users gas fee for transactions to be executed. This gas fees are determined by the miners and recently, gas fees are on the increase. Ethereum is the king of Dapps currently although it does not have a lot Defi application like Binance which is believed to be as a result of high gas fee on Ethereum.

Binance

Binance, founded by Changpeng Zhao in 2017, was founded as a centralized exchange and has its community coin as BNB but over the years, Binance has had more to do in the decentralized space compared to the centralized space. Binance can be regarded as a centralized ecosystem and a decentralized ecosystem.

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The Binance ecosystem as well as moved to Defi and NTFS just like there is Uniswap, so is there a Defi exchange on Binance known as pancake swap. Binance has had a lot of platforms thanks to its innovation and speed. Entering the Defi and NTF zone has also boost its value. Binance exists in Binance Smart chain (BSC). Binamce uses Proof-of-Staked-Authority where people who stake are rewarded for staking their coin when they validate a transaction.

Binance do not charge up to $0.15 as transaction making it very easy for users to use the Binamce chain and allows developers to create Dapps on it.

Binance currently has a used case of facing Defi Dapps such as exchanges and other financial related decentralized applications.

Conclusion

Both platforms have become a hot spot for developers who want to create Dapps. Although one has better advantages over the other which are speed and fees yet, they are impressive blockchain platforms which will hold large stakes in the future of decentralized dapps.