Polygon Layer 2 outperforms Ethereum and Binance in DeFi transactions and commissions

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Avatar for Luis2020Diaz
1 year ago
Topics: Cryptocurrency

Polygon layer 2 has shown great potential with decentralized finance projects in a short time, this has allowed attract many users who see in their network an option to cost problems in terms of commissions and the delay that exists in the Ethereum transactions and in some cases on Binance Smart Chain.

Polygon vs Ethereum

Polygon wants to build a multi-capable infrastructure that allows all secondary networks to have Ethereum compatibility and can interact on its network. Polygon can run more than 65,000 transactions per second, while Ethereum can only perform 15 transactions per second.

Polygon vs Binance Smart Chain

Polygon has shown rapid growth when it comes to Binance Smart Chain (BSC). Although the BSC network does not have problems as strong as the Ethereum network in terms of high charges for shipping fees or delays in transactions, Polygon has demonstrated growth in transactions and liquidity for its main DEX.

It took BSC 12 days to go from 500,000 to 1 million transactions per day, while Polygon only 1 day to reach that figure. From 1 million to 2 million daily transactions, it took BSC one day less to reach this figure (10) against (11) of Polygon, but when we see how quickly this project has progressed compared to Ethereum and Binance Smart Chain, it's really amazing, not to mention the increase in user volume it has had.

You can answer this question in the comments: Do you think Polygon can attract even more Ethereum and BSC users until they can solve problems related to the commission rate and speed of their transactions?

Can another project come later that can surpass Polygon, Ethereum and BSC together?

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Avatar for Luis2020Diaz
1 year ago
Topics: Cryptocurrency