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MythBusting: SmartBCH will never be slower than Ethereum

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Avatar for PVMihalache
Written by   757
1 week ago

#MythBusting is always fun, especially when the majority of FUD-fighters have nothing to back-up fake news and apocalyptical scenarios. I always opted to educate people about blockchain technology instead of telling them that that "the other option" is bad. The best way to convince people to use something is to show them why "this option" is better.

It's time to "fight" for better and faster blockchain experience! It's time to open the eyes and see that 2022 will be the year of fast, cheap and reliable blockchains. This is why I invite you under the @SmartBCH banner, and into the Bitcoin Cash family.

@SmartBCH is the fast and cheap option for DeFi and NFT projects, a gem chain that will breakdown the current balance of usage. It's time to be more like Billy and learn about money and the importance of @SmartBCH

With all respect for Ethereum, and the ground-breaking activity, the chain is now a shipwreck! Slow transactions, clogged chain and above everything ... absolutely ridiculous gas fees.

This is a totally different discussion then the one when I challenge BTC and ETH fans to buy a cup of coffee with their crypto, and I will buy one with BCH. This is a totally different discussion as this is challenging the heart of decentralized finance and the Non-Fungible Tokens sector.

NFTs are the future of blockchain technology, as a solution for voting, governance, proof of ownership, proof of attendance, film and music industry, architecture, finance, and many more. Few days ago I tried to claim a free NFT on the Ethereum blockchain and the fee was $228.13 for the normal transaction, that may take even few hours. The price for a "speed-up" was $458.

Meanwhile, on SmartBCH I spend pennies to mint LAW Punks NFTs and to use them in decentralized finance staking. Who says that SmartBCH is slower then Ethereum has no clue about it, as the transaction settled in less than 30 second. Fee wise, I had to pay 0.000802 BCH to settle the transaction, which was $0.44 at the time of writing. Why should someone pay 518 times more for a transaction and wait hundred times more for it to settle?

 SmartBCH cannot be slower than Ethereum, because ETH gwei has become economically not viable due to PoW consensus and due to the over usage of the network. Ethereum DeFi and yield farming stopped to be fun ages ago, as the transactions gradually become more expensive then the actual gains, and as speed issues started to raise concerns and regrets. They promised quick transactions and low fees ... and this is what they are offering!

Decentralized finance requires staking, un-staking, providing liquidity, claiming the rewards and so on, in a cycle that is meant to bring profit and benefits. Can you earn money if you have to pay $1,280.28 for the transaction to settle? Can you earn money if you will have to wait for hours, or even days, for a transaction to happen?

@SmartBCH eliminates the high fee and speed issues and all the roads towards the future of blockchain are leading to Bitcoin Cash. The SmartBCH ecosystem is still young, and the Universe keeps expanding with every new SEP-20 token.

The time consuming ping-pong games against BTC and ETH must dim, and the SmartBCH chain must lead the new wave of DeFi and NFT platforms. It has the innovative ideas and unparalleled speed as unique selling points. Some will say that Binance Smart-Chain offers the same thing, but what about decentralization and privacy? BSC will never be decentralized and fully private as long as CZ has godlike power and the authority to turn of the whole Binance money-making machine.

 @SmartBCH is the game changer, the gem that can match the demand of a sector that is currently struggling due to expensive fees, clogged networks and slow transactions. It can be THE NEXT BIG DEFI PLATFORM!

I used SmartBCH since the beginning and my SEP-20 portfolio keeps increasing daily. I've done 119 on-chain transactions and none of them failed. None of them took more then 30 seconds to settle, with some of them being successful instantly after pressing the confirmation button.

The average speed for a transaction is set close to 10 seconds with a 100% percentage of success. My ETH DeFi journey can be summed up in 149 transaction, with about 10 of them failing. Those 10 failed transactions were paid and because of the network issues, the fee was lost and I had to repeat the claim again, paying twice for a service that was supposed to work with no issues.

If you exclude the speed issues, we still have to consider the absurd fees. ETH DeFi is as expensive as eating a gold-flaked stake served by Salt Bae! I paid 0.349 ETH for my transactions, $456.56 at the time they settled. Today's value tripled, meaning that my gwei fees at valued at $1,502.61 - an absolute waste of money.

My personal SmartBCH transactions fees went from $0.09 to $0.54 - the highest. With an average of $0.16 per transaction, I will have to do 9,391 transactions to reach the amount of USD spent on Ethereum

This myth is busted ... as SmartBCH cannot be slower then Ethereum. The whole mechanism that powers SmartBCH is created to help the average DeFi enthusiast, not to make him struggle and wait for "cheaper staking days". Whenever someone will tell me that ETH is still cool, I will tell them about the time I had to wait 2 days (yes ... 48 hours) for an Uniswap transaction to settle.

If you want more facts about stand-still transactions, please note that the Polygon transfers to Ethereum may take seven days if using the Plasma Bridge.

This is a transaction that happened in 2021 not in the Flintstones era. This is because of the extra layer of security... but still ... a whole week for a simple transfer?

We live in the of instant transfers, space travel, nanobots and advanced blockchain and Plasma Bridge still takes seven days to complete a transaction! I find this really disturbing and totally inefficient.

According to Defi Llama, the total TVL locked in @SmartBCH reached $30 million, with a 12.57% increase in the last day. The four DEXs keep increasing the locked value and new "players" are joining SmartBCH projects

Set up SmartBCH on Metamask by follow this steps, and start your journey into the fastest and the most affordable place for DeFi!

  • Settings > Networks > Add Network than Network Name: SmartBCH

  • RPC URL: https://smartbch.fountainhead.cash/mainnet or https://smartbch.greyh.at

  • Chain ID: 10000 with Currency Symbol: BCH

  • Block Explorer URL: https://www.smartscan.cash

SmartBCH:

0x4f49D938c3Ad2437c52eb314F9bD7Bdb7FA58Da9

SLP:

simpleledger:qra4glrxamyajh5qm7jr0ez6qrq4utffzvralqu7xh

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Avatar for PVMihalache
Written by   757
1 week ago
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Comments

I'm always looking for cheap transaction gas fees and SmartBCH has all my attention! With its current gas fees ETH is for fews and surely not for people "working" with low amounts of money... Maybe this will change with ETH 2.0, who knows?, but meanwhile we can support and join other chains who offer more speed and acceptable gas fees! Thanks for this article: I always like when people tell exactly how much transactions cost!

$ 0.00
4 days ago

Transaction fees are not secrets

$ 0.00
4 days ago

True, but reading about them directly in articles saves you some time, at least for me!

$ 0.00
4 days ago

That's true .... thanks for the positive feedback

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4 days ago

Goodness, ETH gas fee is a killer 🤣 while in SmartBCH - cents, cents, cents 😎😎

$ 0.00
1 week ago

I was already surprised that you had not participated. But I remember you told me one day that you preferred to do it when the deadline arrived. Good luck!

$ 0.05
1 week ago

Usually yes ... I post closer to deadline but not because it's a plan... just because I always have other stuff that takes priority. Closer to deadlines I just focus on it to make it happen

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1 week ago

SmartBCH as Bitcoin Cash are censored and isolated by the crypto media that only hype Solana and other failure networks. The community is growing, though, which matters most.

$ 0.05
1 week ago

Once SmartBCH will bloom, more will want to ape into it and will tell us things like "You are so lucky you went into SmartBCH so early, I wish someone told me about it months ago" :))

$ 0.05
1 week ago

Whosoever says SmartBCH is slower than Ethereum hasn't tried SmartBCH or whosoever says Ethereum is better knows nothing about defi. The transaction fee on Ethereum alone is a turn off for me. 2022 will be a great year for SmartBCH.

$ 0.05
1 week ago

And we are here nice and early

$ 0.00
1 week ago