Matic Network Vs Binance smart chain: Who wins?

By MadMaxx | Psycho Crypto | 27 Apr 2021


Hi everyone. Welcome to another article. 

In this article, I'll go over what the Matic network is, and what BSC is, and which is better.

We'll go over their pros and cons and drawbacks just to see which one is the best. Then we'll pick a winner.

By the way, if you like the post, kindly leave a thumbs up at the end. It's *super* encouraging. 🙃

Now let's get started!

What is Matic Network?

Put simply, Matic Network is a layer on top of Ethereum. It is like an extra blockchain operating beside the Ethereum blockchain. It's main aim is to provide faster transactions and cheaper fees. The way it does this is pretty complex and even I don't fully understand it yet. You can of course read their docs if you need a detailed understanding.

What is important here is that through all this, Matic network remains decentralised and keeps the decentralisation of the Ethereum chain. You can't roll back the chain or do anything fishy.

 

What is Binance Smart Chain?

Binance smart chain, or BSC as it's usually called is also a form of Ethereum. It's kind of a "fork" of Ethereum, but with layer 2 tech implemented directly into the chain, rather than on the side. This allows for natively faster transactions and much cheaper transactions as well.

However, Binance didn't keep the decentralisation of Ethereum. In fact, BSC is a very centralised blockchain. The Binance team has full control over the gas prices (which they recently reduced), the transactions and can roll back the chain should they wish to. 

 

How is Matic better than BSC?

Matic has a few key areas where it beats out BSC.

  • It's faster: Actually, it's MUCH faster than BSC. If you use both side by side, you'd understand it. Matic is a few seconds faster than BSC, which is saying a lot considering how fast BSC is.
  • It's cheaper: Believe it or not, it's much cheaper to use Matic than to use BSC. Matic fees are almost non existent, whereas you can *kind of* still see them on BSC. Actually, Matic fees are so low that they stop being a deciding factor in transactions, which is saying quite a lot.
  • Fully decentralised: Matic also keeps the complete decentralisation of the Ethereum blockchain. There's no rolling back chains or reversing transactions. It's completely decentralised.

 


How is BSC better than Matic?

  • More support: Regardless of the fact that it's completely centralised, the Binance ecosystem has a robust and extremely skilled team that can handle issues as fast as possible. This will be very important if any issues come in down the line.

That's apparently the only thing I can see that BSC beats Matic at.

What are your thoughts? Which is better? Let me know down below!

Thanks for reading!

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MadMaxx
MadMaxx

In the eternal quest for crypto fulfilment. I'm an obese frog on the internet, what I say most definitely isn't financial advice.


Psycho Crypto
Psycho Crypto

Fun experiments with crypto!

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