Ethereum, Binance (BSC), Tron, and Polygon are the leading blockchains in decentralized applications (dApps). Ethereum is the oldest of these four blockchains, having been founded in 2013. It has enjoyed the privilege of seniority, currently hosting more than 2800 dApps. Tron and polygon were founded in 2017. The former has managed to host about 1500 dApps while the latter has fallen behind with about 700-hosted dApps. Binance Smart Chain, on the other hand, was founded in 2020, making it the newest blockchain among the four. However, BSC has grown rapidly, having crossed the 800-dApp mark in 2021. The blockchain project has a strong financial backup. It recently received a $1billion cash injection to further the growth of the network.

All these blockchains have similarities and differences in features, which make them appeal to their users. Let us look at how they compare:

Ethereum

Ethereum blockchain network is a community-run technology that powers Ether and many decentralized applications (dApps). The do-it-yourself network enables developers to build and publish smart contracts and dApps. Smart contracts enable users to transact with each other without a trusted central authority. The smart contract-based transaction records are immutable, secure, and verifiable. Ether (ETH) is the network’s ecosystem that powers all local transactions. Ethereum distinguishes itself from Bitcoin blockchain as a programmable network serving as a home for many applications, financial services, and games.

Benefits of Ethereum

Ethereum offers a highly flexible platform for building decentralized applications through Solidity scripting language and Ethereum Virtual Machine (EVM).

Ethereum also has a mature protocol with established best practices and a rich ecosystem of developer tooling. The network also enables an easy-user experience for Ethereum applications users. For example, MetaMask, Rainbow, and Argent offer intuitive interfaces to interact with the Ethereum blockchain and its smart contracts.

Ethereum also has a larger user base making it a primary home for dApps such as DeFi and NFTs.

Ethereum 2.0, which is currently under development, will make the network more scalable with higher transaction throughput. It will also use proof-of-stake, which is more eco-friendly.

Binance Smart Chain (BSC)

Binance Smart Chain (BSC) is a relatively new smart contract blockchain introduced in August 2020. The decentralized network was created as a parallel blockchain to Binance Chain and was launched four months earlier to facilitate decentralized trading. BSC uses EVM to boost contract functionality and compatibility. Its native token is BNB, which has risen to the top three positions in the crypto ranking. BSC is a fast and secure blockchain that focuses majorly on its native dApp, Binance DEX. However, just like Ethereum, it enables developers to build applications. BSC’s most requested feature is programmable extendibility — smart contracts and virtual machine functions.

Benefits of Binance Chain

BSC has a high smart contract functionality and compatibility with the EVM, which helps in maintaining consensus across the blockchain with an easy user interface for average users.

BSC also has a high throughput, up to 11.8 million in a day. It helps achieve the balance between usability and flexibility.

BSC has a large and growing community of developers and users, which is an advantage to new users. BNB, the native coin, is also one of the leading three digital assets by market cap.

BSC also boasts low fees compared to the high gas fee in the Ethereum blockchain ecosystem.

The use of EVM also means that it is ethereum compatible. Developers can build or migrate dApps, tools, and other ethereum ecosystem components to the BSC network, without any challenge, to enjoy faster speed and low fees.

Polygon Network

Polygon is a decentralized network that started as a Binance Launchpad project called Matic, in April 2019. It offers a protocol for creating blockchain networks that are compatible with Ethereum. Polygon serves as a sidechain to Ethereum or a parallel chain connected to Ethereum. It enables faster speed and low costs to users. Polygon Networks enables developers to launch Ethereum-compatible scaling solutions and independent blockchains that form part of a network of interconnected blockchains. Polygon is currently used by many popular DeFi applications such as Sushi, Aacve, and Curve. It also supports native applications such as Slingshot and QuickSwap. The Network’s native coin is called Matic. Matic has many use cases including staking to earn rewards while securing the network

Benefits of Polygon Network

Polygon Network offers high throughput estimated at 65,000 transactions per second. The network also offers faster transactions, with a maximum of 2 seconds block confirmation period.

The transaction costs in Polygon are also low compared to Ethereum gas fees, making it suitable for DeFi applications.

Polygon also has a lot of use-cases, and it is also scalable to accommodate increasing user volume.

Tron

Tron is a blockchain-based decentralized network that majorly focuses on hosting entertainment applications. Tron has its native token, called Tronix (TRX). The network uses blockchain features and peer-to-peer network technology to eliminate intermediaries and enable content creators to interact with consumers directly when selling their works. Developers use a Solidity programming language to create apps and host them in the Tron platform. The network uses some of the basic building blocks of the Ethereum platform such as dApps, smart contracts, and tokens.

Benefits of Tron

Tron supports faster transaction speed compared to Ethereum. Therefore, it is suitable for the developers, of gaming and other entertainment applications.

Tron also offers a cheaper option compared to Ethereum, which is known for its high gas cost. Therefore, it lowers the barrier to entry for the upcoming developers and average users.

Tron is also more reliable and scalable, hence can accommodate the growing number of applications while maintaining high transaction speed.

The network also focuses on the entertainment industry by empowering creators such as game developers and artists. The industry requires decentralization thus the network offers true value to the members of the industry.

Pocket Finance DeFi (pocketfi.io) , Leveraging the Top Blockchains

Every network discussed above has its strengths. Ethereum is one of the largest ecosystems with a high liquidity token. Its user base makes it attractive to many application developers. On the Other hand, Binance, Tron, and Polygon networks offer faster transactions on more scalable networks. An application that users only one blockchain will miss the unique benefits that the other networks have. Pocket Finance (Pocketfi) suit, however, is unique in that it leverages all these four networks hence reaping the benefits of each one of them. Thus, Pocket DeFi enjoys high scalability, token liquidity, transaction speed, and a large user base.

Pocket Wallet is a multi-chain DeFi suit that offers users a wide range of applications including a wallet that enable receiving, storing, sending, and swapping cryptocurrencies. It will also offer other investment and other financial opportunities such as staking, farming, prediction games, and vault. The suit will also have an NFT marketplace where users will mint, sell, and buy NFTs.

Besides offering the applications, the DeFi suit also aims at offering the best user experience to its users.