The Ethereum VS Binance Smart Chain battle has been going on for a while now, with BSC challenging the Ethereum. In the last days I have put out two separate posts for the both chain:
Let’s put the data side by side and compare how these two are doing.
We will be looking at data for:
- Unique addresses/wallets
- Number of daily transactions
- Fees
- Number of daily verified contracts
The data is extracted from https://bscscan.com/, for the period September 1, 2020 – March 20, 2021.
The Binance Smart Chain [BSC] started with operation at the end of August 2020 and because of this we are looking at the period above for comparison.
Number of Unique Addresses
Here is the chart for the number of Unique addresses on ETH VS BSC.
Overall Ethereum is still in the lead here, although BSC has increased the numbers of addresses at an amazing rate.
On September 1st 2020, when BSC was just starting, ETH had 112M wallets.
On March 20, 2021, BSC has 60M wallets and ETH around 144M. Will be interesting to see how things progress in the near future.
In terms of active wallets ETH has around 500k per day, while BSC don’t have an exact number for it, but they should be somewhere around the 100k mark now. So, a 5 to 1 ratio here for ETH.
Number of Daily Transactions
Here is the chart for the number of daily transactions on ETH VS BSC.
In terms of daily transactions BSC has now overtaken ETH!
BSC is around 3M daily transactions while eth is holding steady at 1.3M daily transactions. It sems that at the current stage this is about the maximum that ETH can process. The ones who pay the most have their transactions processed.
Fees
The chart for the fees looks like this.
These are the total daily fees in $ value with the price of the tokens for each day.
BSC is trying to promote itself as the cheap and faster version of ETH and the chat above seems to confirm that.
In the last period ETH is somewhere around 20M dollars in fees per day, while BSC is around 1M. Note that the ETH fees are split between all the ETH miners, while the BSC fees are split just between the 20 BSC validators/bloc producers, because BSC is a proof of stake blockchain.
On one occasion ETH had 55M USD in fees per day!
In terms of fees per transactions they depend on the level of the activity on the network, but overall on ETH they are in the range of 10$ for simple transfer and up to 50$ (sometimes more 100$) for a smart contract operation. On BSC these fees are in the range of 0.1$ to 1$.
Number of Daily Verified Contracts
Here is the chart for daily verified contracts.
The number of verified contracts indicates of the level of dapps development on the chains. BSC has an incredible growth here, reaching almost 800 verified smart contracts per day, while ETH is in a declining trend, with the numbers of verified smart contracts at around 150 per day.
This is an interesting data, and it may shows that in the last period there is more development happening on BSC then ETH.
Finally on the above four metrics things stands like this:
- Unique addresses/wallets – Winner ETH
- Number of daily transactions – Winner BSC
- Fees – Winner BSC
- Number of daily verified contracts – Winner BSC
A 3 to 1 for BSC here.
I’ll add one more point to ETH for decentralization! A 3:2, final result.
All the best
@dalz
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Exelente post, muy instructivo, gracias por compartir.
Thanks!
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Comparison of Ethereum Binance
I liken her to a talented boy player like Messi
And another player as hard as Ronaldo
In the end, both are good
But for me Binance, like Ronaldo, grew up late but made its way
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Messi vs Ronaldo.... both are good tho
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Man, why does it feel like BSC has been around for a lot longer than that? That is a really sexy flat line on the Fees chart! There is definitely a lot to like about BSC!
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Yea, so much things happening on BSC, and its quite new :)
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Yeah, it is hard to believe it has only been around for like six months or whatever it is!
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this post compares the two block chains that are quite dear to me. I think that with the passage of time the Binance Smart Chain will acquire more and more slices of the market both towards Bitcoin and towards ethereum
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@dalz great!!!!thanks for this wonderful info....
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Thanks!
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BSC is fast catching up with ETH. Some folks will never make the switch to BSC because it is 'centralized' but as long as ETH fees remain ridiculously high, i think a good many will.
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Yea fees are big bummer!
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i have only recently started using BSC with the CUB pools (DEC / BUSD). It's how it should be. cheap, fast and easy. Decentralization - your turn now
Haha... yea well put!
Will get there :)
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