{"id":567637,"date":"2021-07-01T18:00:53","date_gmt":"2021-07-01T15:00:53","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=567637"},"modified":"2021-07-01T18:00:53","modified_gmt":"2021-07-01T15:00:53","slug":"bsc-polygon-eclipse-ethereum-in-daily-transactions-due-to-lower-fees","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/bsc-polygon-eclipse-ethereum-in-daily-transactions-due-to-lower-fees\/","title":{"rendered":"BSC, Polygon Eclipse Ethereum in Daily Transactions Due to Lower Fees"},"content":{"rendered":"<ul>\n<li><strong>Binance Smart Chain and Polygon networks are continually eclipsing Ethereum in daily transaction count<\/strong><\/li>\n<li><strong>In mid-May, BSC had a peak daily transaction count of 12 million, Polygon had 9 million whereas Ethereum had roughly 1.75 million<\/strong><\/li>\n<li><strong>The majority of the daily transactions on these networks are happening through Dapps<\/strong><\/li>\n<li><strong>Binance Smart Chain and Polygon have experienced a remarkable increment of new Dapps in the DeFi category due to lower fees<\/strong><\/li>\n<\/ul>\n<p>The daily transaction count on the Binance Smart Chain and Polygon networks has constantly outpaced those of <a href=\"https:\/\/en.ethereumworldnews.com\/category\/news\/latest-ethereum-eth-news\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Ethereum<\/a> in the second quarter of 2021.<\/p>\n<p>This is according to <a href=\"https:\/\/dappradar.com\/blog\/daily-bsc-polygon-transactions-outpacing-ethereum\" target=\"_blank\" rel=\"noopener nofollow\" data-schema-attribute=\"\">a report<\/a> shared by the team at DaapRadar who also pointed out that at the pinnacle of transactional activity on all networks in mid-May, the <a href=\"https:\/\/en.ethereumworldnews.com\/category\/news\/binance-bnb-news\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Binance<\/a> Smart Chain handled a peak value of almost 12 million a day. During the same time period, <a href=\"https:\/\/en.ethereumworldnews.com\/okcoin-integrates-polygon-matic-reducing-eth-fees-for-defi-users\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Polygon<\/a> handled around 9 million daily transactions with Ethereum handling 1.75 million.<\/p>\n<p>The report went on to share the following three charts demonstrating the increased transactional activity on the BSC and Polygon when compared to Ethereum.<\/p>\n<figure id=\"attachment_567638\" aria-describedby=\"caption-attachment-567638\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/07\/BSC-MATIC-ETH-Daily-transaction-count.png\"><img class=\"wp-image-567638 size-large\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/07\/BSC-MATIC-ETH-Daily-transaction-count-1024x320.png\" alt=\"\" width=\"1024\" height=\"320\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/07\/BSC-MATIC-ETH-Daily-transaction-count-1024x320.png 1024w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/07\/BSC-MATIC-ETH-Daily-transaction-count-300x94.png 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/07\/BSC-MATIC-ETH-Daily-transaction-count-770x241.png 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/07\/BSC-MATIC-ETH-Daily-transaction-count-500x156.png 500w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/07\/BSC-MATIC-ETH-Daily-transaction-count-240x75.png 240w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/07\/BSC-MATIC-ETH-Daily-transaction-count-717x224.png 717w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/07\/BSC-MATIC-ETH-Daily-transaction-count.png 1088w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" title=\"\"><\/a><figcaption id=\"caption-attachment-567638\" class=\"wp-caption-text\">Source, DappRadar.com<\/figcaption><\/figure>\n<h2>DeFi Responsible for the High Daily Transaction Count on BSC and Polygon Due to Lower Fees<\/h2>\n<p>The report went on to explain that the relatively high amount of daily transactions on the Binance Smart Chain (BSC) and Polygon (MATIC) was primarily due to the popularity of the various DeFi applications on both networks.<\/p>\n<p>In particular, both the Binance Smart Chain and Polygon have seen a tremendous increment of DeFi Dapps in the last month <a href=\"https:\/\/en.ethereumworldnews.com\/polygon-retains-defi-users-despite-lower-fees-on-ethereum-report\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">due to lower fees<\/a> as explained below.<\/p>\n<blockquote><p>DappRadar now tracks 881 BSC dapps, 661 of them sit in the DeFi and Exchange category. On Polygon the story is similar. Of a total of 204 dapps tracked, 131 are in the DeFi and Exchange category.<\/p>\n<p>Both networks have made it abundantly clear what their ambition is in the short term. Ethereum meanwhile has welcomed just 1 new dapp in the last 30 days \u2013 albeit a DeFi app.<\/p>\n<p>But the trend is clear. Developers are favoring alternative networks for one main reason. To give users slick and cheap user experiences.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Binance Smart Chain and Polygon networks are continually eclipsing Ethereum in daily transaction count In mid-May, BSC had a peak daily transaction count of 12 million, Polygon had 9 million whereas Ethereum had roughly 1.75 million The majority of the daily transactions on these networks are happening through Dapps Binance Smart Chain and Polygon have experienced a remarkable increment of new Dapps in the DeFi category due to lower fees The daily transaction count on the Binance Smart Chain and [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":567643,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[108073,823],"tags":[108123,108237,1322,108305],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/567637"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=567637"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/567637\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/567643"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=567637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=567637"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=567637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}