Topic: Polkadot or Binance Smart Chain? - page 4. (Read 1040 times)

Both are showing huge promising and a lot of hype around both for now, Polkadot is not ready and have no smart contract on it but good tech with hugely talented developers behind it, Binance has a very strong community already and this is helping it out, hardly will you find one person in Crypto that does not have a Binance account, this is a big thing to have. I will not bet against any because of the concern of centralization in Binance chain

BSC for now since Binance is getting mainstream everyday although it's centralized but some people already use it as their blockchain, as for polkadot I'm looking forward for this project for a long term since both of them being an alternative from ETH, Tron and etc.

Honestly this will never have one true answer, impossible to decide something like this. Why? Because people who like polkadot, or even own polkadot, and do not have any bnb will say that dot is much better and it has started barely recently and already above bnb and so forth and will defend dot like it is the best currency that has ever existed in history of crypto currencies.

If you asked people who own bnb, or own any defi that bnb is tied with, and do not own any dot (I am one of these people) they will say that dot is overhyped, it doesn't have a reason to be this high, and it will eventually go lower and lower when the hype is over whereas bnb is backed by binance and keeps promoting and getting better with launchpad support. So, whoever you ask will give you a different answer, it is not going to be easy to decide which one is truly better.

Let's turn our attention to a working product. I personally am not a supporter of centralized systems, but I am a supporter of working systems. Therefore, I can confidently say that I would choose Binance even despite the centralization.

Right now Polkadot/Polkastarter is a hot cake, every projects that use this platform are always in good hands and fundraising always ends up in a big success, no wonder many new projects are rushing to Polkadot right now, can't be compared to binance smartchain sorry

I've known about binance smartchain like forever, I was excited when it was first announced but it failed to live up to my expectations, developers on the other hand failed to adopt this binance smartchain for unknown reasons but Polkadot, sigh! It gained developers heart already and be prepared many more projects are going for Polkadot

Binance smart chain is a good competitor to polkadot, and it is strong because binance customer base is very large, binance just need to launch hood and hype ICO at his launch pad and only accept BNB will make BNB price sky rocketing like today because of safepal ICO and Litentry mining

Well ... one of the key factors that distinguish a successful investor from an investor who loses everything is money management and diversification. Putting all your money into small-caps expose your wallet to high risk. Risk of loosing everything. Well diversified crypto wallet is like x% in stable coins, x% out of this in stable coin pools for passive income, x% in BTC, X% in big cap undervalued, deflationary coins with good APY from coin use cases - like BNB was before recent pump, x% in small caps for moonshots. That way, no mater what, you are always with money and ready for another investment.

I don't really like either at their cap.
Lots of projects out there that are capable of similar things or have almost identical usecases but for the real life changing opportunities you want small caps.

Blocknet and Bitbay are actually superior technically they are just unknown.

Where are the technical experts with the easy to digest graphical charts and comparisons.

I want potential 500x not 5x returns. I missed bitcoin in 2010.

You want solid robust tech microcaps that can do what these top 10 - 25 can do and better in some cases.

Polkadot is in number 6 and BSC is in number 7 right now. Both are competing with each other and ETH network high gas fees creates an opportunity for these project to attract new projects to migrate with their system. I prefer polkadot more than the BSC network because of its higher scalability and para chain features. Even binance donates money for the future development of polkadot.

Both projects are good. But the question is: Will they last for long? In a highly-competitive world, you're going to need to stay ahead of the game by providing attractive features without compromising security/reliability/decentralization. Despite both Polkadot and Binance Smart Chain's efforts, none have been able to overcome Ethereum's level of mainstream adoption. It's not about low fees and faster transaction confirmation times, but rather how solid a cryptocurrency's foundation is. Ethereum is built on solid foundations with an ample support of developers, businesses, and individuals alike. Competing chains can't rival Ethereum as they lack mainstream support. The majority of dApps and tokens are built on the Ethereum platform, making it the leader of the smart contracts space.

As far as both chains are concerned (Polkadot and BSC), I'd say they're very much alike. Both have different approaches to scalability, but they achieve nearly the same purpose (which is faster transactions at a fraction of the cost). Binance Smart Chain could become even better than Polkadot in the long run, as Binance has all of the resources required to make it happen (after all, it's the world's biggest crypto exchange). Yet, people will determine which one gains traction and which one goes down the drain. If both survive, then they'll remain as an alternative for those looking to escape from ETH's high fees and slow transaction confirmation times. But both chains won't be able to replace ETH because of the reasons mentioned earlier. It's not about which project is best, but rather which projects can work together in order to make crypto land a better place. Just my opinion

Of course, the polkadot has been showing itself very well lately - people have long wanted a new, technological and working platform! But still, it has not yet been tested by time as binance, which has shown the most stable work over the years, and their token is only growing in price and breaking through a new ATH level!

Exactly. Centralization greatly defeats the purpose of crypto/Blockchain tech. While most people will fall for the scheme, some people are starting to gain knowledge on the subject. Believe me, no one will like dealing with something that's outside of their own control. It's like dealing with banks all over again. Binance Smart Chain may have attractive features, but it's largely controlled by Binance. The company makes you believe that their own blockchain is decentralized with its false propaganda. But those who dig deeper, will find that the majority of the network's nodes are controlled by Binance itself. As long as centralization persists, the "BNB" token will be subject to single points of failure. Imagine if someday Binance shut down its operations? Then Binance Smart Chain will fade into oblivion, leaving investors in the dust.

As far as I know, this is not an issue with Polkadot due to its decentralized nature. Of course, Ethereum is much more decentralized than the aforementioned blockchain networks. But I believe that DOT has higher potential than BNB because of the way it's designed. With decentralization, the project could become highly resistant against censorship. No company or government has the final say over the network's behavior or prominence in the mainstream world. I'd imagine most people will prefer Polkadot over Binance Smart Chain anytime because of this. As far as technical aspects are concerned, I think that both chains are "neck and neck". DOT and BNB are able to provide extremely low fees and blazing-fast transactions, making them a better alternative to ETH for "De-Fi". Yet, developers' interest in building new dApps on Ethereum hasn't declined. If this keeps up, neither DOT or BNB will be able to overcome ETH in the future. Just my opinion

Many projects already have similar functions and capabilities as Ethereum, some even have much more than Ethereum blockchain.

But Ethereum is a very popular project at the moment, it will be very difficult to take and break and overtake it.

POLKA is practically equivalent to ethereum. The ethereum allies are additionally supporting polka right now.The POLKA environment is getting greater from time to the time. That is the reason a few people called that polka can be a genuine contender for ethereum. POLKA and BSC have similar opportunity to draw in the organizations.

Once something is centralized , then the community wouldn’t show much interest in it and I guess that’s what is happening with the Binance Smart Chain, a lot of developers would prefer the alternative that is decentralized as they would like a platform that’s going to give them the full freedom to be able to run their projects the way they want it without any form of restrictions at all.Then as for Polkadot, this is not the first time I’m seeing people hype a new project as an Ethereum killer, I am not going to believe any of that until I see it come true. In most cases Devs are still going to consider Ethereum.

Polkadot may be much more extensive in the future than this project from Binance.

But, to get the maximum profit, you need to invest your own funds in both projects, very often, by investing money in projects from Binance, you can get some buns, coins that will be worth.

That's certainly true, mate. It's all about adoption instead of technological superiority. A cryptocurrency can have as many shiny features as developers want to, but without adoption, it won't go anywhere. Binance's blockchain network has a slight advantage over Polkadot as the company has all the funding needed to keep the project going for years to come. Being the world's biggest cryptocurrency exchange brings its benefits. Polkadot's place on the market might not last for long if hype goes all the way down the drain. Decentralized application (dApp) developers will be the ones who'll decide which platform to use for their own creations. The only downside about Binance Smart Chain is its utterly-centralized nature. Yet, it's growing at a steady rate as new dApps are built on the platform.

Nonetheless, I think both BNB and DOT are "neck and neck" when it comes to providing fast, scalable smart contracts for the world. Technically-speaking, both of these chains are far superior than ETH itself. But it's yet the time where ETH alternatives haven't proven themselves to be a real contender against Ethereum. As long as ETH remains as the "King of Smart Contracts", these aforementioned chains will only become a niche in the long run. At least, they're open source allowing existing projects to copy competitors' features in order to make the blockchain/crypto land a better place. Just my thoughts

for me , BSC is a clone from eth network which mission to reduce a high fees on eth , and of course with variant popular tokens/coins also include on smart chain, the best funcion from bsc for me , like i try to send btc to someone over there, rather than give high fees on btc chain, i prefer use bsc with btc pegged token, well , of course its seems centralized.
about polkadot , well , its a something new innovation for me, so polkadot seems better to choice, a new thing not always bad right ?

Polkadot Good, but I have more faith in Binance smart chains. The reason is that binance has more of an influence. their platform is more independent, They have DEX, and are supported by big companies making it better. For now DOT does rank better on market cap, but despite all that their demand is still low.