ETH vs BSC: DeFi battle of Ease and Cheaper Transactions!
As a one time true Steem believer, i was thrilled to find this academy after many months of my inactiveness hence i deem it fit to drop this debate on ease of use, cheaper and faster transactions in the DeFi ecosystem between Ethereum and Binance Smart Chain.
The end game is "real Decentralized Finance" untouchable by the Centralized Financial system of the world, and the war is between second most popular crypto by usage and market capitalization is at loggerheads with the number one most used exchange in the world Binance and its Smart Chain. Its the battle of whim and grit, also the survival of the fittest, the most scalable, the cheapest and fastest transactions as well as interoperability. Its equivocally paramount to weigh the features when measuring the pros and cons of these two Technologies, even though their other better, faster, cheaper ones entering the loggerheads but yet to gain stardom and adoption like these two that is under spotlight in this article.
Anyone familiar with these two entities will easily chose a side if you want more value of what you are stacking putting the technology aside, however, the core value of decentralization is also a huge force to be reckoned with. Binance Smart Chains Decentralized Exchanges have been argued to be solely centralized as much of the tokens created on it gets a bulk of their liquidity from the centralized most popular top exchange in the world. By Volume been traded and Capital, Binance is equipped with the Cash Power(both fiat and Crypto) to topple Ethereum based DeFi DEX and its my simple explanations of one of the reasons why PancakeSwap overtook UniSwap in terms of market cap recently. Although other factors are involved, like most traders and crypto users would prefer ease of transactions and at a cheaper rate to Ethereum gargantuan gas(gwei) fees which is a big set back for Ethereum Based DeFi.
For example, would you rather spend 30 to 45cent to swap tokens worth $10 or you would stick to a swap that will cost you almost $6 to $8 to make the same value transaction. The former is what you pay on Binance Smart Chain DEXs comparer to the latter which is Ethereum DEXs. Furthermore, the speed of transactions is also a key factor when it comes to slippages, Ethereum is much more slower than BSC and that's what other game players like Tomochain, Callisto Blockchain, TRON, POA Network etc aims to capitalize on.
The Dexterities of these chains are not questioned, but to recapitulate, the shortcomings of any technology could be its undoing and that seems to be happening has many newer DeFi projects are embracing Binance Smart Chain over Ethereum Chain. TRON shares same uncertainty with BSC in terms of the core value of Decentralization which could be the undoing of Binance Smart Chain in a long run.
In any battle of dominance, there can never be a Non-Zerosum game. Losers will emerge and more losers will continue to pop up with time, there's never a winner. Winning is momentarily(maybe a couple of years) till something better and near-perfect comes along and crash the party for the winning team. In the end, total Decentralization wins and that is the end game in this endless tussle of whims. Would you be on the winning side when push comes to shuffle?