To start with, anyone who uses the Ethereum network uses it to pay for gas fees. Users of the Binance exchange can use the Binance Coin token to get additional discounts and rewards, which forces users to buy and hold Binance Coin.ĮTH has a number of use cases. New features are regularly added and traders are actively switching to Binance. ![]() Transactions with BNB have increased also rapidly due to the lower fees associated with its use compared to Ethereum which has similar use cases.īinance exchange is getting more popular by the day and it is the world’s most used crypto exchange platform. The BNB price has risen rather very fast and investors now consider it as an investment, even though it was initially launched only as a utility token. ETH has also recently gained popularity as a store of value as the price has been soaring, placing it in the same class as Bitcoin.īNB is also used for payment, it fuels the exchange platform and also as a store of value lately. It is also used to pay for gas fees on the network. This has taken a toll on users of the network. However with the growth of Ethereum, scalability has become an issue, so the fees have skyrocketed. This is far cheaper than sending fiat money across borders as the fees are lower. rPARHRODpQ- CryptoRank Platform ApUse casesĮTH can be used for many purposes, including payments. It reached a high of one million active unique addresses on April 21, compared to 700,000 on the same day. □ #BinanceSmartChain has become the most used blockchain in terms of active unique addresses. As at 8 April, BSC’s daily transactions was 4,995,155 which is roughly double that of Ethereum at 1,280,306. This flippening of Ethereum by BSC is mainly due to the fees on Ethereum that has made users explore cheaper blockchains for transactions.īSC has also surpassed Ethereum’s number of daily transactions. BSC has also surpassed Ethereum by number of daily transactions. This makes it the most used blockchain by this measure according to onchain data analytics firm Crypto Rank. While gas prices in the form of fees have been outrageous on Ethereum, it is said to be trending lower following the collaboration with Polygon to improve the network.īinance Smart Chain (BSC) on the other hand recently hit 1 million daily active users, surpassing Ethereum. The network currently processes over $30 billion in transactions per day, roughly double that of Bitcoin. As at 28 April, the number of active addresses on Ethereum hit a new all-time high of over 676,000. ![]() This makes it grow continuously to reach the current size of users. The Ethereum blockchain is one of the largest because it supports several different functions that Bitcoin for instance cannot. Like Ethereum, it also has a large community of everyday users and traders. It has a wallet known as Binance Smart Chain (BSC) wallet which is used primarily to interact with DeFi exchanges such as Uniswap, Sushiswap and the rest. This ecosystem together with the many other users of ETH form the community.īinance Chain has also waded into the DeFi ecosystem recently and has an active community of users in the space as well. All projects based on the Ethereum blockchain use ETH for several purposes and the growth of the DeFi ecosystem brought an unprecedented increase in the number of people using the network upon which the entire ecosystem is built. CommunityĮTH is the native cryptocurrency used to run the Ethereum network. We will look at the community, public chain, use cases and utility of the two coins. In this article, we will compare the use of Ethereum’s native coin ETH to that of Binance (BNB). One of such is Binance Chain, which has Binance Coin (BNB) as its native token. Major projects such as Tron were also initially launched on Ethereum because of its ability to support the creation of other networks.Īs time passed, other blockchains have emerged with their own tokens, which support similar functionalities as Ethereum. In fact, it is the blockchain upon which the majority of crypto tokens ( ERC-20) are created. Binance Coin (BNB) vs Ethereum (ETH): Which Blockchain is Better?Įthereum has been the top blockchain for smart contracts, dApps and DeFi.
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