Is Polygon network going to be an alternative to BSC network? - page 2.

TastyChillySauce00

legendary

Activity: 3010

Merit: 1028

Leading Crypto Sports Betting & Casino Platform

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

So for which benefit, all these projects are being launched on Polygon network instead of BSC?

It's not all but some projects. I must remind you that if scalability was not only the consideration before try to launch your project on a protocol. The scalability that owned by polygon doesn't have big gap with BSC but people must also think about how much the demand that gained by the platform like BSC. This will be helping a new platform to grow even more. Remember that if a protocol has more users and then it may give more hype compared with a protocol that has less users compared with another one. BSC has better popularity among the crypto users. that makes the new project are still interesting to launch their platform on the BSC.
They were thinking polygon as an alternative to the BSC and ethereum but i must be honest about this if polygon didn't have a lot of demand like BSC. this can be seen from the TVL on plygon and BSC defi platforms.
BSC has more TVL compared with polygon defi. that means if BSC has more popularity that can give hype for a new project compared with polygon. Both were second layer solution for ethereum.

Shallow

sr. member

Activity: 938

Merit: 255

SmartFi - EARN, LEND & TRADE

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 answer to your question is very simple; the same reason why a lot of projects are leveraging BSC network because of high gas fees in Ethereum, is the same reason a lot projects are leveraging Polygon network now because of the increasing transaction fee of BSC network. BSC network gas fee is gradually increasing and congestion gradually coming up as well, and since Polygon offers a more cheaper transactions fee with better speed and currently no congestion, a lot of projects are moving to it. And as time goes on, a tougher competition will grow up between BSC and Polygon, at the same time, if Polygon team gets all their works and features right, the same attention and growth which BSC network witnessed and enjoyed months ago might take place within Polygon (but this is just my speculation as other blockchain networks are not relenting like Fantom).
Lastly, most projects are also migrating to different blockchains without any tangible reason other than to pump their token price.

mdzahed134

sr. member

Activity: 2226

Merit: 259

Buzz App - Spin wheel, farm rewards

Polygon network is 2 layer of solution for Ethereum it’s a main benefits which project will launched in the network. Specifically Bsc and polygon network is lower transaction fee network as well as high speed of transaction. Many new projects in migrated in those network instead of eth expensive network fee.

ryzaadit

legendary

Activity: 2660

Merit: 1261

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.

cabron

hero member

Activity: 2800

Merit: 595

https://www.betcoin.ag

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.

nicolas1979

sr. member

Activity: 826

Merit: 252

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

So for which benefit, all these projects are being launched on Polygon network instead of BSC?

A new project collaboration with the owner of the smart contract that makes a project developed in a specific smart contract. It's not just talking about transaction fees and speed of transactions in seconds. If the BSC network is more dominantly used, I think the transaction speed will also decrease. Likewise with Polygon. It is possible that the project developer is also working with the Matic developer. When it comes to transaction speed, the Ethereum network is also very fast, unless we change the gas settings on the Ethereum network. But regarding the high transaction fees because the price of Ethereum is also very high at the moment.

Rana590

sr. member

Activity: 1750

Merit: 267

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.

Cornia

full member

Activity: 1526

Merit: 110

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?

Topic: Is Polygon network going to be an alternative to BSC network? - page 2. (Read 226 times)