Topic: referred token (Read 809 times)

Using ERC-20 can still be profitable as long as you are dealing with larger amounts of tokens to trade. That way, you will earn more than on what you will pay for the fee and I don't think the fees nowadays is the same to last time where it is very expensive.

ERC-20 have its own breakthrough before but even up to now, there are solid projects which are only available on this network. They choose it compared to other cheaper chains because it was the original and it's more secure. There are also lots of scam projects before on ERC-20 but right now, scammers choose BEP-20 as they know that many retail investors are choosing this chain due to its cheap fees.

I think everyone will try to do something that is clearly profitable, not the other way around which is actually detrimental, including in token transactions which are like you said. ERC20 has not been able to make a breakthrough to be able to reduce costs.
even though everyone will always try to be able to avoid high costs.
so it's no wonder that everyone is trying to avoid any transactions using ERC20, in fact it's true that nowadays many new projects always make transactions using BEP20.
but when it comes to tokens, it's not really that different, in fact, if we compare it, maybe the BEP20 token is more likely to lead to SCAM.
In principle, everything can be ascertained that there are advantages and disadvantages, all that remains is to determine what is needed according to the circumstances when making a transaction.

if only the project inside the BSC blockchain just as good as ethereum blockchain that'd be great but alas there's just nothing much in BSC, the fact that it has low gas fee only convenient for something like stablecoin since there are no other real significant project in the blockchain.

Bottomline is, whatever network a project will choose, the success depends on the project itself.
If it has no use case, the lifespan will be short no matter what network it has been deployed at.
But if the foundation is rock solid and will find a massive use case in the market, it will grow regardless of the network.
BSC may be cheaper but ETH is still the popular one. Either way, as long as your project is useful, people will use your token if it is profitable and useful for them.

The gas fee for Ethereum is only cost 2.8$ or 69 gwei which already cheap considering how expensive it was when the Ethereum network still use PoW as their protocol. Many new big project still building on Ethereum and just do a crosschaim version on BSC since Ethereum blockchain is still the number source of liquidity for dapps project.

BSC is only good because it has cheaper fee but it's centralized feature makes this blockchain very dangerous when they are under attack. Ethereum network is still the best especially that there's a lot of side chain building to resolve scalability issue.

I don't want to differentiate both of blockchain, because both of popular if i have to prefer one then i will pick Ethereum network token, it's high security blockchain, but i think people avoid it for high cost, in terms of low fees BEP20 is the best.

Seriously? Are we still having this discussion as to which is better between BEP20 and ERC20?
Well, both are good in their own way. For the fact that projects are still willing to adapt either one of the two goes to show that they have something unique about them.
It depends on what you want, whether low transaction fee or security.

Personally i avoid erc20 now because they have larger gas fees. Besides many good projects new or old who are now following bep20 network due to which many investors are now adopting bep20 network. Moreover, they may follow a new system to reduce the gass fees of erc20 network.

I personally don't like ERC20 token because ERC20 has high gas fee so I prefer BEP20 because we all know that BEP20 gas fee is much lower than ERC20.  BEP20 is very convenient to transact due to low gas fee and that's why I prefer BEP20 network transact.

thats true honestly, only bridged tokens that are available in multichain are worth to have in Binance Smart Chain, the other? not so much, considering the fact that this chain have already been heavily populated with
some shit coin and this trend goes on until today, I think BSC only peaked when metaverse and some blockchain games still exists, where they need cheaper fee than ethereum and also faster.
but nowadays it seems just there's nothing worth notably mentioning coming from BSC which only means that maybe there are less and less people deploying smart contract in their blockchain.
if ethereum could eventually solve its scalability problems then I guess BSC will be even more forgotten.

Because all the whales are on eth and no one wants to see anything build on BSC. People see that ETH is going to be the future so they put their projects where the users are going to be. We are just waiting it for to scale so we can benefit more of that. And after that, there's no use for BSC and even rug pulls move back to eth.

Basically only tokens in BSC worth using are usdt and busd. Placeholder or wrapped tokens that are bridged to BNB (And perhaps the native coin BNB if you are into that sort of thing)

Personally i prefer the erc 20 tokens they are many more and offer many more possibilities of use such as stake, liquidity and many different earning possibilities, the bnb 20 tokens are still few but we will see their development in the future

Regarding my trading experienced, ERC20 most recommended than BEP20, many BEP20 coins listed only dapp exchange like APESWAP or PANCAKESWAP but many ERC20 network coins success listed on CEX Exchange. But not always ERC20 coins are profitable and some time BEP20 coin can exist for long time depend how progress from the owner make their coins listing on the top exchange. Both network exactly are profitable for investing but be careful with shit coin.

But have the weakness with ERC20 network because sending to other wallet require long confirmation and higher fees transaction than coins with BEP20 network.

ERC20 win on community also developer much familiar already with ERC20.
but i prefer BEP20  cause a fee much smaller.

Both standards are the same. What's different is the blockchain network they're deployed into. BEP20 tokens enjoy lower gas fees and faster confirmation times because they're built on a scalable blockchain network. With ERC20 tokens, that's not the case. However, ERC20 tokens are widely accepted across a number of merchants, services, and smart contracts.

I'd prefer ERC20 tokens because they're built on a decentralized blockchain network. They have a greater chance of survival than BEP20 tokens. Binance is too tied to BSC, so investing into BEP20 tokens would be only a gamble. It's a risk that's not worth taking, especially when the BSC blockchain is extremely centralized. Ultimately, the market will decide which kinds of tokens stay afloat and which will become history. As long as you don't invest more than what you can't afford to lose, there should be nothing to worry about. Just my thoughts

Both BEP20 and ERC20 are widely used token standards on different blockchain networks. The choice between the two depends on various factors and your specific requirements. Here are some considerations:

Network: BEP20 tokens are built on the Binance Smart Chain (BSC), while ERC20 tokens are built on the Ethereum network. If you have a preference for one network over the other, that can influence your decision.

Ecosystem and Adoption: Ethereum has a more established ecosystem, larger developer community, and wider adoption, which can provide more opportunities for integration and usage. However, Binance Smart Chain has been gaining popularity due to lower transaction fees and faster confirmations.

Interoperability: ERC20 tokens are generally more widely supported by wallets, exchanges, and decentralized applications (dApps) due to the maturity and popularity of the Ethereum network. BEP20 tokens are primarily used within the Binance Smart Chain ecosystem, although efforts are being made to increase interoperability.

Transaction Fees: Binance Smart Chain generally offers lower transaction fees compared to the Ethereum network. If cost efficiency is a priority for your project, BEP20 tokens might be more suitable.

Security: Both networks have their security mechanisms and track records. Ethereum has been around longer and has undergone more scrutiny, but Binance Smart Chain also implements security measures.

Ultimately, the choice between BEP20 and ERC20 depends on your specific project needs, network preferences, ecosystem support, transaction cost considerations, and the target audience or community you wish to engage with. It's advisable to thoroughly evaluate these factors and consult with experts or developers familiar with both standards to make an informed decision.

BEP20 is my choice, because BEP20 has a gas fees are much cheaper than ERC20 and the transaction speed is also very fast, beside that now many token can be purchased on ERC20 or BEP20 (cross chain) and of course I prefer to buy token on BEP20, because BEP20 is a decent network for now (has a low fees and fast transactions).

My Opinion, There is no definitive answer which is universally better, as both standards have their strengths and weaknesses. If you prioritize lower fees and faster transactions, the BEP20 standard on Binance Smart Chain may be more suitable for you. On the other hand, if you value a well-established ecosystem, higher adoption, and liquidity, the ERC20 standard on the Ethereum blockchain may be a better choice.

I find your opinion heavily reliant on the community support and token usage, which might be myopic. Its like judging an artist solely by their followers, rather than their talent. The high transaction fees on ERC20, although discouraging, are a direct consequence of Ethereum's popularity and network congestion, which ironically underlines its success.

BEP20, while indeed enjoying a surge in adoption due to lower fees, still has a long way to go in proving itself as resilient and secure as ERC20. If cost were the sole determinant, then why isn't every user flocking to Binance Smart Chain? It's because they understand the trade-off between cost and security.

Furthermore, determining the quality of a blockchain protocol by the tokens issued on it is like judging a parent by their child's actions. Each token should be evaluated on its individual merit. The protocol is simply the canvas; the art is in the tokenomics and utility.

IMO, ERC20 has more quality coins, community and users than BEP20. However, due to its very high fee, BEP20 has other advantages that make it almost the same or the same as the current ERC20. If the ERC20 fees were lower, I'm pretty sure people would choose to go with ERC20 and BEP20 wouldn't have the chance it has now to be in the same position, it's just, that's not the reality.
In addition, to determine whether it is good or not, we need to refer to the tokens that we use or invest. currently quite a lot of tokens use these 2 chains as their basis.