Topic: A lot of the Really Popular Fast and Cheap Blockchain are Centralized (Read 104 times)

Unfortunately like terra they are less popular. We use decentralized networks more often because they are easier to use such as ethereum and BNB. Ethereum is too expensive we only use bsc(bnb) at the moment. I hope that by 2022 there will be many successful network projects so that we don't have to worry about high transaction costs because there are many alternatives.

Transaction fee on Bitcoin Network is not expensive so why do you not choose it?

Bitcoin network is a biggest so it also is a safest network for transactions among others. You can see estimations for 51% attack cost and How many confirmations are equivalent* to 6 Bitcoin confirmations to see the strength and safety of Bitcoin network.

https://www.crypto51.app/
https://howmanyconfs.com/

In addition, if you use other networks and buy, invest in useless tokens, you will not only lose money for transaction fees but also your capital.

Well, decentralization has its cost for sure, but not for the aggressive Eth fees!
Investors want decentralized solutions, but don't like spending high fees just to make simple transactions.

That's why Avax is gaining popularity for its balanced decentralization and transaction cost.

Other than Avax, I see Tron TRC20 blockchain is cheaper, faster, and more decentralized than other solutions in the market. But, adoption is key for the life of any project. With new Defi projects entering the market, like the Ferox/frx one, using TRC20 is healthy for the Tron ecosystem and the project itself.

So, there is still great potential in Avax, TRC20, and other more decentralized technologies.

AVAX and Solona get the attention of market trends this year. several projects are already developing and using their blockchain network.
even Solona became very popular with the launch of their new projects which always get big investments. Solona builds its ecosystem very well. but AVAX I don't think it's bad. he is also fast and cheap. but for adoption, Solona is still more popular.

I have to say people still prefer to pay a shit ton of money on gas fees just to play some games, and do not prefer the altcoins at other networks. I mean don't get me wrong, there are some projects in other coins and people do use them, it is just clear to me that people are not giving up on ETH either. So, these days ETH is still getting so much volume and so many people still using it and it is still something that we should not be focusing as "ETH getting less popular because it has gas fee", it is more like "ETH is getting similar attention but people ALSO looks at other networks" right now.

Once again, this doesn't mean other networks are not getting attention, they are getting a lot of attention but it looks like that attention doesn't come from people who gave up on ETH, it just comes from in addition to ETH projects and along with it.

^ Cheaper than Ethereum. Faster than Ethereum under those fees. Most decentralized blockchain until today. If you haven't figured it out yet, that's the current transaction fees over the Bitcoin network.

source: https://mempool.space/

Or dealing with NFT P2E games. It's just reality that most people nowadays prefer practicality and convenience over ideals.

I agree decentralization is very difficult to handle as this alternative of Ethereum started to pop these days.
I saw on Twitter before a discussion about, "It is much better to solve scalability than decentralization", it hits hard me. Because as we all know, Ethereum is currently top 1 for smart contracts platform and a lot of people are complaining because of expensive transaction fees.

For me, this alternative of Ethereum is helping Ethereum temporarily to not clog too much the network but overall, the fee is high if you are just a normal user.

The thing is that it is much easier to launch any centralized projects than decentralized. Every project should develop so as to be successful, but changing in decentralized projects are possible only if the majority of community members approve of changes. Also if we talk about bridges for example, there must be relayers, who confirm that this person has a required sum of tokens and wrap their token, but this system is centralized and it is very difficult to make it more decentralized.

I think that as a whole, the crypto movement has definitely moved away from the purist decentralization narrative towards a more practical thing - which is honestly not necessarily a bad thing.

But it is still important to recognize what we're compromising for each project involved.

I think that AVAX is another project that has a good degree of decentralization compared to Solana that everyone could take a look into.

I guess you're reffering to the second layer solution for ethereum blockchain but some may have thousands of validator just like solana and avalanche. that's a non sense thing to call both as  centralized blockchain and you must know that if these blockchains are also in the top rank of CMC. Decentralization was not everything and sometimes the user needs only a cheap and fast transaction from the blockchain. Decentralization was a good thing but what about when a decentralized blockchain cost you more than $300 for a single transaction and will you still use it to send your transaction? That's a non sense thing to be used and by the way so many people can't afford it.

I agree with you in the point that to broadcast a transaction, decentralization isn't a big concern for almost all the users. And if the Eth network issue persists, this is the cost of decentralization safety.
Users frequently use centralized platforms for trade and fast swap/transfer before using the main Eth network for deposits/withdrawals.

The networks mentioned in OP are quiet good and i think it's the occasion to let others know about them, however i doubt that they can replace Ethereum as some of them already running at the top of Ethereum itself.

Bitcoin is actually probably most price-to-decentralization efficient coin out there right now.

SOL, XRP, BNB etc. are quite centralized for sure and have a single point of failure.

But that's just the reality of things right now. If you want fast transactions you need to pay a higher fee, whether monetary or lower decentralization. But most of the time, the decentralization aspect is honestly not a huge concern.

I think most people dont mind the trade-off when they can get almost free gas fees ETH gas is ridiculously high especially when you are dealing with altcoins in uniswap or a farm  Basically the average individual will be taking losses when it comes to ETH gas fees compared to his gains and lets not forget that sometimes you dont make gains only losses BSC is a popular example of cheap chain done right 1bucks is enough for you anytime

Unfortunately there is pretty much always going to be a tradeoff between centralization and transaction speed...

Until someone comes up with a one-size-fits-all blockchain solution, that is.

Right now, ETH is arguably one of the most decentralized platforms out there for DeFi but it has super high fees. Which is why I think that people are actually starting to neglect BTC given the fact that BTC has the biggest market cap and super low fees, and is the most decentralized by a wide margin.

A lot of Ethereum blockchain users are migrating onto new blockchains in hopes of finding faster, cheaper and more scalable networks. There is no doubt that Eth fees are insanely high, and the cost of making transactions on Eth only gets more expensive as time goes by. Additionally, transactions on Eth can take a lot of time to complete sometimes, and network scalability issues can at times outright cancel people’s transactions.

Considering the many issues Eth is facing right now it's understandable why many people would want to migrate their liquidity from Eth onto other blockchains, but don’t lose track of Eth’s biggest strength, it's decentralization. If you are really considering moving some of your liquidity onto other faster and cheaper blockchains just make sure it's decentralized, because there are quite a few centralized networks out there. Many of these centralized networks out there are extremely fast, charge little to no transaction fees, and have insane scalability, but they tend to lack the most important component of a blockchain, and that is decentralization.

A few really good, fast, cheap and scalable blockchains I would recommend are Terra, Persistence and Cosmos. These blockchains have a good amount of validators, and the tokens are distributed in a manner that should be expected of a proper decentralized blockchain.

There are just the blockchains that I personally find are fast, cheap & scalable, and yet still manage to maintain a good degree of decentralization. If you guys like to use any other fast and cheap blockchains that maintain a relatively good degree of decentralization then please share them here.