Narrowing Down The Comparison To These Two Top Blockchains Polygon (Matic) and Binance Smart Chain (BSC).
If a gem is waiting to be discovered, a great duel based on performance against the most popular ones is perceived to gain the spotlight that Telos deserves.
I was extremely surprised that the previous post I have shared here in Publish0x have garnered extreme number of views which made it to the popular posts from the time it was shared. Something my posts seldom get nowadays unlike before. It was even able to gain a comment asking me to compare Telos to his favorite project. I will be more than glad to provide you my honest take based on my own analysis.
Here is the summary chart of the three Blockchains edge amongst each other:
Binance Smart Chain (BSC)
I love this technology that Binance provided as a solution for Ethereum's enormous gas fees just for a single transaction even greater than the amount to be transferred itself. With this, Binance introduced the Trust Wallet for its users to download and from there we were able to swap any kind of tokens we want with such ease. I usually use Pancakeswap to buy newly launched tokens. This kind of technology is extremely useful for any DeFi platform that will climb up to the ladders of the top cryptos in the Coinmarketcap in the future. The only problem I was having here and even until now is the speed and still giving its users high amount of gas fees though not that extreme compared to the Ethereum. The chain is supporting BEP20 Tokens to run in this ecosystem. If you accidentally sent an ERC20 Token to this chain, then say goodbye to your funds. We have to be extra careful because the BEP20 Token addresses are quite similar to the ERC20 Token addresses too. One thing just bothers me is that BSC is completely centralized and entirely under the control of Binance/ CZ. They have shut down withdrawals from the chain at times for several days. Ouch! Gas prices are also rising. Offers no protection from front-running.
Polygon is a decentralized blockchain which is satisfactorily fast as well but apparently this chain is allowing front-running. The network is offering Matic Plasma Chains. Operating on Ethereum layer 2 and predicates-based plasma implementation, Matic PoS Chain, EVM-compatible PoS-secured Ethereum sidechain which relies on Ethereum security for validator staking and checkpoints. Matic has now 80+ dApps and would add more. Just a side note, if Matic claims to have 7,200 TPS then why there have been congestions in their blockchain most of the time?
Both Matic and Telos have displayed a powerful price performance during the time when all other cryptocurrencies were in bloody red! This is what VORTECS has detected on both of these gems and were able to gain popularity from these triumphant phenomenon. Both chains also provide low gas fees and tremendous blockchain speed so both of these projects are great!
As for Telos, this is such a promising project. The future of Web 3.0!
It is such an honor to be compared to these powerful chains that belongs to the top of the list in terms of marketcap. It is good to be proud of the edge that we have compared to these top projects. From the previous blogs that I recently shared, they were all about Telos and just take a look at them to know what I am talking about.
As a Thank you for checking this blog out, I would like to share this opportunity to you, an avid reader of my posts here on publish0x, to get the chance bagging 500 TLOS (~$110) from our weekly give-away. Check this Twitter post out and just do VERY SIMPLE tasks:
To know more about Telos, check this Youtube video out as this covers a lot of things. If you will be kind enough to LIKE, subscribe and post a comment once it sparked your interest to support the chain. This video is from Aaron the Cowboy, interviewing Douglas - The Senior Architect of the Telos Whitepaper.
The Telos EVM Team will be having an AMA - "Ask-Me-Anything" today June 16, 2021 at exactly 1900 UTC.
Hope to see you there! Throw away questions you have in mind about The Telos EVM. It will be a zoom meeting and the link will be shared in the Telos Official Telegram Group chat for us to join.
You may join us to get updated with all the activities we share and be one of the amazing group members. Our Telegram Group already reached 6,000 members and we are all celebrating with you guys.
We also would like to let everyone know that Telos Blockchain is also environmental friendly technology as it consumes less energy compared to all other blockchains. I hope Elon Musk's researchers will be able to know these things about us as we extremely care for mother nature.
Requested by @Kryptford for me to compare HTR to Telos as a comment from my previous post:
Here is my answer:
Hathor (HTR) based on what I have seen on Coinmarketcap, is also one of the low cap gems. At this point it actually garnered momentum compared to Telos at this moment and is already been listed on some Tier-2 exchange aside from KuCoin which is being paired to USDT and BTC similar to Telos (TLOS).
With a 24-Volume of $1.6M wherein TLOS also reached beyond $1M as well though seldom happens, it only means that this project has already gained some investors eyes and will continue to stay like this for a long time. It is for sure under the radar of nearly 20k traders upon checking the watchlist too.
Hathor is also a blockchain. Great to know that it is also implementing green practices as it do mining. It is also said to be focusing on Scalability with 200 TPS having no masternodes or central coordinator. Thus, making it also decentralized. Just like The Telos Network, we all hope of getting these gems have their moments in the front page of the top cryptocurrencies. 200 TPS is far from the 10,000 TPS that Telos have. They still don't have any smart-contract yet but Telos already have lots and our dApps are already being highlighted in dAppRadar just recently. Maybe HTR's price is already double than TLOS but it actually doesn't match the power of what The Telos Network can bring to the world.
Thank you so much for asking me to compare these two projects. I hope this would now be my regular segment of taking some other members for me to discuss other projects too.
Things to ponder:
If this technology is such a killer that is also environmental-friendly, why is it still a gem in the sand taking too long to be found?
To know more about Telos as a token (TLOS) and as a blockchain (Telos Network) please check out my blogs here on Publish0x
I am Fycee, an APPICS dApp Senior Ambassador and one of the Telos Community Marketing Team. Not sharing a financial advice but let's always Do Your Own Research (DYOR)