Is Polygon network going to be an alternative to BSC network?

AmoreJaz

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Quote from: el kaka22 on January 20, 2023, 11:18:02 AM

Matic is basically closer to ETH instead. It won't be an alternative to BSC but it could be basically just a smaller version of ETH to help it out. Think about it this way, I have seen a game that uses Matic, in the sense that you would be buying and selling ETH there, and you would be buying game NFT's there, but it will be in ETH but at Matic network. This could also be bridged to ETH eventually if you grow big enough.

So it is like Dollars and cents, in the sense that if you want to spend less, there is no reason to spend high gas fee on ETH so you use Matic, but when it grows big enough, it becomes a lot more reasonable to use ETH, this will probably go on for a while.

i believe that's the use case of MATIC for quite a while. serving users who want to pay low fees. but looking at BSC and MATIC, i see them as just top alternative networks today. if you want to incur lower fees, check if the token or coin can be transferred via these networks. a lot of exchanges are now offering different networks. as a trader just take advantage of their existence.

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Quote from: zasad@ on January 20, 2023, 07:51:21 AM

If the price of Polygon falls below 50 cents, I will buy this token. I am not interested in the BNB token, I do not trade on the Binance exchange and do not participate in their launchpads. Practice shows that any exchange will go bankrupt, so I see no reason to buy a BNB token.

It's very unlikely MATIC will dip all the way to $0.50, especially when mainstream adoption is increasing by the day. The only way such thing could happen is if Bitcoin continues to decline in price. If BTC goes below $15k, then MATIC could easily go to 50 cents. No matter how much MATIC is worth in the future, it will always be a better alternative than BNB because of its decentralized and censorship-resistant design.

The latter (BNB) could easily fail if Binance goes all the way down the drain. After all, it's an exchange token. You can see why FTT went all the way down to the ground because of the FTX collapse. It's likely a new fork will emerge that would help BNB rise from the ground. The crypto world is widely unpredictable, so anything could happen in the future. Just my opinion

el kaka22

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Matic is basically closer to ETH instead. It won't be an alternative to BSC but it could be basically just a smaller version of ETH to help it out. Think about it this way, I have seen a game that uses Matic, in the sense that you would be buying and selling ETH there, and you would be buying game NFT's there, but it will be in ETH but at Matic network. This could also be bridged to ETH eventually if you grow big enough.

So it is like Dollars and cents, in the sense that if you want to spend less, there is no reason to spend high gas fee on ETH so you use Matic, but when it grows big enough, it becomes a lot more reasonable to use ETH, this will probably go on for a while.

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Quote from: Abiky on January 20, 2023, 05:57:42 AM

Quote from: zasad@ on January 19, 2023, 09:54:07 AM

Polygon looks more decentralized than Binance Smart Chain. Polygon cannot compete with Ethereum because it is part of its ecosystem. The more success Polygon has, the more success Ethereum has. Binance Smart Chain is a fully centralized blockchain with 21 centralized validators.

Even though Binance Smart Chain is centralized, it's still a better option than Solana. The latter is not only more centralized than both Polygon and BSC, but also flawed by design. Considering that BNB (the native token of BSC) has the backing of the world's biggest crypto exchange (Binance), you can rest assured it won't be going away anytime soon. It will keep growing until it becomes a "force to reckon with".

But if I had to choose between BSC and Polygon, I'd choose the latter due to its decentralized design. It's just as good as Ethereum with a few improvements for scalability. Fees are cheap, while transactions are blazing-fast. The recent hard fork will make Polygon even better in the long run. Who knows if both MATIC and BNB lasts for generations? Just my opinion

If the price of Polygon falls below 50 cents, I will buy this token. I am not interested in the BNB token, I do not trade on the Binance exchange and do not participate in their launchpads. Practice shows that any exchange will go bankrupt, so I see no reason to buy a BNB token.

Abiky

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Quote from: zasad@ on January 19, 2023, 09:54:07 AM

Polygon looks more decentralized than Binance Smart Chain. Polygon cannot compete with Ethereum because it is part of its ecosystem. The more success Polygon has, the more success Ethereum has. Binance Smart Chain is a fully centralized blockchain with 21 centralized validators.

Even though Binance Smart Chain is centralized, it's still a better option than Solana. The latter is not only more centralized than both Polygon and BSC, but also flawed by design. Considering that BNB (the native token of BSC) has the backing of the world's biggest crypto exchange (Binance), you can rest assured it won't be going away anytime soon. It will keep growing until it becomes a "force to reckon with".

But if I had to choose between BSC and Polygon, I'd choose the latter due to its decentralized design. It's just as good as Ethereum with a few improvements for scalability. Fees are cheap, while transactions are blazing-fast. The recent hard fork will make Polygon even better in the long run. Who knows if both MATIC and BNB lasts for generations? Just my opinion

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Quote from: Kemarit on January 18, 2023, 11:16:31 PM

though, I think ETH still leads any other L1 smart contract and dapps, although their is BSC highly touted as a big risk and competition for ETH, so far it's ETH that's in the first place. The only reason that the projects did stay away from ETH network is the network fee, but since it moved to PoS, then perhaps this issues have been alleviated already.

But as a developer, it's good to have this kind of alternatives so that they can rightly choose which one fits their needs.

So it's a win win for them and for us crypto enthusiast.

I agree that those two are the only ones, ETH is the greatest layer one there could ever be, it's just too good to give up and it's definitely decentralized and now has staking and it also provides smart contract to many tokens at the same time. The chances of something passing ETH on all of those at the same time is slim to none.

BSC is doing very well, and maybe USDT will pass it but it's not going to be profitable, so BNB will keep on being third behind ETH, there is a chance Matic could be liked more than it is liked now, but not more than BNB nor would be used more than BSC at any moment soon. Something huge has to change for both of them to make that switch.

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Quote from: SquirrelJulietGarden on January 18, 2023, 10:21:26 PM

Polygon has many problems and with many weaknesses. Their developer teams must do load of things to improve their blockchains before actually are able to compete with Ethereum or Binance Smart Chain.

Don't believe in their promise, let's see how they release products, upgrades to improve Polygon.

Polygon looks more decentralized than Binance Smart Chain. Polygon cannot compete with Ethereum because it is part of its ecosystem. The more success Polygon has, the more success Ethereum has. Binance Smart Chain is a fully centralized blockchain with 21 centralized validators.

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Quote from: Jackl87 on January 18, 2023, 12:12:48 PM

Quote from: Cornia on September 21, 2021, 01:15:11 PM

The demand for BSC network has increased due to increase in gas fee of Ethereum network. Most of the Altcoin projects are now using the BSC network. Even some Ethereum network's Altcoin project is switching to BSC / Polygon network.
But now it is seen that some Altcoin project is being launched in Polygon network. We know that gas fee of BSC network is very low and transaction speed is high. So for which benefit, all these projects are being launched on Polygon network instead of BSC?

Well i think nowadays we have so many L1-projects or L2-projects that are all offering smart contract functionality that we really have a big choice now, which network we want to use. Back in the day there only was Ethereum which offered smart contracts and that was a huge game changer for the whole crypto space because smart contracts were necessary for all the stuff that we are having today with NFT's, tokens and of course Defi with it's yield farms and so on.
Obviously ETH had huge problems during high traffic phases which made it almost unusable for small investors like me because a transaction often did cost more fee than the value of the transaction itself was.
Polygon and BSC are both having relatively low transaction fees so there is no big difference in that regard. It all comes down to which chain has the bigger adoption.

But still though, I think ETH still leads any other L1 smart contract and dapps, although their is BSC highly touted as a big risk and competition for ETH, so far it's ETH that's in the first place. The only reason that the projects did stay away from ETH network is the network fee, but since it moved to PoS, then perhaps this issues have been alleviated already.

But as a developer, it's good to have this kind of alternatives so that they can rightly choose which one fits their needs.

So it's a win win for them and for us crypto enthusiast.

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Quote from: Cornia on September 21, 2021, 01:15:11 PM

The demand for BSC network has increased due to increase in gas fee of Ethereum network. Most of the Altcoin projects are now using the BSC network. Even some Ethereum network's Altcoin project is switching to BSC / Polygon network.

Ethereum is a first altcoin project with smart contract. It is a pioneer for smart contract and successfully built a very strong and big ecosystem. If Bitcoin is a biggest cryptocurrency and has biggest communities, Ethereum is a biggest altcoin and has biggest altcoin communities.

Binance Smart Chain is a copy of Ethereum network and it succeeds so far. After the success of BSC, many teams created their own chains from layer 1 to layer 2 solutions and try to make noise that they are Ethereum killers, BSC killers. They failed at beginning by doing that if you are smart and clever enough to realize a fact.

If they are really strong teams, can make innovative products, they don't have to make noise to self-called themselves as killers of other projects.

Quote

But now it is seen that some Altcoin project is being launched in Polygon network. We know that gas fee of BSC network is very low and transaction speed is high. So for which benefit, all these projects are being launched on Polygon network instead of BSC?

Polygon has many problems and with many weaknesses. Their developer teams must do load of things to improve their blockchains before actually are able to compete with Ethereum or Binance Smart Chain.

Don't believe in their promise, let's see how they release products, upgrades to improve Polygon.

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Quote from: Cornia on September 21, 2021, 01:15:11 PM

The demand for BSC network has increased due to increase in gas fee of Ethereum network. Most of the Altcoin projects are now using the BSC network. Even some Ethereum network's Altcoin project is switching to BSC / Polygon network.
But now it is seen that some Altcoin project is being launched in Polygon network. We know that gas fee of BSC network is very low and transaction speed is high. So for which benefit, all these projects are being launched on Polygon network instead of BSC?

Well i think nowadays we have so many L1-projects or L2-projects that are all offering smart contract functionality that we really have a big choice now, which network we want to use. Back in the day there only was Ethereum which offered smart contracts and that was a huge game changer for the whole crypto space because smart contracts were necessary for all the stuff that we are having today with NFT's, tokens and of course Defi with it's yield farms and so on.
Obviously ETH had huge problems during high traffic phases which made it almost unusable for small investors like me because a transaction often did cost more fee than the value of the transaction itself was.
Polygon and BSC are both having relatively low transaction fees so there is no big difference in that regard. It all comes down to which chain has the bigger adoption.

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Quote from: Cornia on September 21, 2021, 01:15:11 PM

The demand for BSC network has increased due to increase in gas fee of Ethereum network. Most of the Altcoin projects are now using the BSC network. Even some Ethereum network's Altcoin project is switching to BSC / Polygon network.
But now it is seen that some Altcoin project is being launched in Polygon network. We know that gas fee of BSC network is very low and transaction speed is high. So for which benefit, all these projects are being launched on Polygon network instead of BSC?

I think both have the same speed in transactions, both polygons and Bsc. but both have their advantages.
polygon is a platform that has been very developed and has a very good network so that many users of the platform benefit from using it, and many projects are also launched using the Polygon platform. from there we can conclude that polygon is a type of blockchain that can provide great benefits for its users. besides that Bsc is the same way, where this platform continues to be favored by many companies for the development of their projects. therefore I think these two networks are very good alternatives for crypto users to benefit from transactions.

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Quote from: SlimShadyMmp on September 21, 2021, 05:39:10 PM

Personally I think is just another alternative to bsc just like solana or avax but been layer two so its still eth and you can bridge more seamlessly but basically what people are saying about blocks and co is just plain talk with nothing to backup so maybe just use the one you feel most comfortable and also some nft game use either bsc or polygon so it might depend on your app

Actually the Polygon network is not an alternative to BSC, but because the Polygon network is cheaper and friendlier than using BSC.
Recently, many new coins have started to emerge using the Polygon network, even though these coins don't have many enthusiasts, unlike the new coins that use the BSC or Solana networks.
But actually coins that use the Polygon network are also not too bad and seem to be able to survive and compete with other coins, especially on the network, which will provide slightly cheaper fees.

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https://cryptonews.com/news/brazils-nubank-remains-bullish-crypto-with-new-token-listings.htm
Brazil’s Nubank Remains Bullish on Crypto with New Token Listings
The Brazilian neobank Nubank’s decision to list polygon (MATIC) and uniswap (UNI) on its banking app has been met with enthusiasm from the crypto community.
Nubank first began its crypto pivot in mid-2022, when it announced it would buy bitcoin (BTC) using its balance sheet. The company claimed it would invest 1% of its portfolio in bitcoin via its holding company.

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Quote from: Cornia on September 21, 2021, 01:15:11 PM

The demand for BSC network has increased due to increase in gas fee of Ethereum network. Most of the Altcoin projects are now using the BSC network. Even some Ethereum network's Altcoin project is switching to BSC / Polygon network.
But now it is seen that some Altcoin project is being launched in Polygon network. We know that gas fee of BSC network is very low and transaction speed is high. So for which benefit, all these projects are being launched on Polygon network instead of BSC?

Good question to think about.

Here's a few rundown points why Polygon may be considered better than BSC:

1. Better performer and does not compromise on security
2. Fully decentralized (BSC is centralized)

For a full read, and perspective on the difference between the two blockchains and how Polygon is a clear winner use this article.

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Quote from: Rana590 on September 21, 2021, 02:54:12 PM

Quote from: Cornia on September 21, 2021, 01:15:11 PM

The demand for BSC network has increased due to increase in gas fee of Ethereum network. Most of the Altcoin projects are now using the BSC network. Even some Ethereum network's Altcoin project is switching to BSC / Polygon network.
But now it is seen that some Altcoin project is being launched in Polygon network. We know that gas fee of BSC network is very low and transaction speed is high. So for which benefit, all these projects are being launched on Polygon network instead of BSC?

In this current stage, polygon network is blowing so quickly and doing really well. If there is no benefits in a network, no project will launch there. Polygon is providing best deals for launching project in this network. I hope it will be a great era on blockchain network.

I also like how the network is developing, especially its stable work, and I have never experienced any problems with the network matic.
Will this be a replacement for the BSC? It is likely, because it looks more convenient and secure from the point of view of smart contracts.

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Quote from: Cornia on September 21, 2021, 01:15:11 PM

The demand for BSC network has increased due to increase in gas fee of Ethereum network. Most of the Altcoin projects are now using the BSC network. Even some Ethereum network's Altcoin project is switching to BSC / Polygon network.
But now it is seen that some Altcoin project is being launched in Polygon network. We know that gas fee of BSC network is very low and transaction speed is high. So for which benefit, all these projects are being launched on Polygon network instead of BSC?

The bridge from Ethereum to Polygon is better and can transfer more tokens. Fees on Polygon are lower and transactions are faster. Some people don't like Binance and CZ and would like a neutral blockchain to interact with. There are options other than Polygon though, like Fantom and NEAR protocol. Ref Finance is a really good AMM on NEAR protocol and the fees and speed are even better than Polygon and it's easier to use. The bridge to NEAR, rainbow bridge is the first 100% trustless bridge in crypto.

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Quote from: Cornia on September 21, 2021, 01:15:11 PM

The demand for BSC network has increased due to increase in gas fee of Ethereum network. Most of the Altcoin projects are now using the BSC network. Even some Ethereum network's Altcoin project is switching to BSC / Polygon network.
But now it is seen that some Altcoin project is being launched in Polygon network. We know that gas fee of BSC network is very low and transaction speed is high. So for which benefit, all these projects are being launched on Polygon network instead of BSC?

Actually I have met a lot of projects that launched both on Polygon and Binance Smart Chain, this way they get more users. By the way, if we compare Polygon and BSC, fees on Polygon are less than one cent, as opposed to BSC where one transaction can cost around $1. Polygon is a layer 2 solution for Ethereum and BSC is an independent blockchain, so maybe projects see this fact as an advantage, and choose Polygon then.

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Quote from: SlimShadyMmp on September 21, 2021, 05:39:10 PM

Personally I think is just another alternative to bsc just like solana or avax but been layer two so its still eth and you can bridge more seamlessly but basically what people are saying about blocks and co is just plain talk with nothing to backup so maybe just use the one you feel most comfortable and also some nft game use either bsc or polygon so it might depend on your app

right now, we need to see more tangible projects utilizing this network. i think, it is too early to claim that polygon as an alternative to bsc. bsc gained popularity owed to eth's high gas fees. now, several networks are trying to compete with eth, and polygon and bsc are among them. but in terms of popularity, bsc is still much ahead of polygon. let us see 6 months from now and beyond if something in the market changes. what if eth network reduced significantly their gas fees? that is for us to see...

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Quote from: ryzaadit on September 21, 2021, 03:12:28 PM

Yes, from my perspective

Most of dAPP game has been moving to "Polygon", I read about the case problem of BSC there has some pending block while to many transaction on PCS. I'm using Polygon network to playing a game and kinda like it more less fee rather than BSC.

its be one of benefit using polygon , beside gaming i am also see prediction market that used his platform .

Quote from: cabron on September 21, 2021, 03:07:24 PM

Allowing token migration is how networks compete today. Its close to synthetic assets because of token bridges its becoming easier for platforms to grow such as BSC and Polygon. SOL is also jumping into this competition of platforms with the tinest gas fee so whichever you use, make sure you can easily move in and out by checking pools.

now developers team have alot alternative in which platform they will use with each of them propose the best feature. gas fee be most reasonable reason at this moment why alot project moved to those chain.

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Personally I think is just another alternative to bsc just like solana or avax but been layer two so its still eth and you can bridge more seamlessly but basically what people are saying about blocks and co is just plain talk with nothing to backup so maybe just use the one you feel most comfortable and also some nft game use either bsc or polygon so it might depend on your app

Topic: Is Polygon network going to be an alternative to BSC network? (Read 226 times)