Blockchain technology has advanced rapidly since the emergence of Bitcoin in 2008. Currently, there are various blockchain networks, each with its own advantages and characteristics.
This article compares and analyzes five major blockchain networks (Bitcoin, Ethereum, Tron, Avalanche, Polygon) as of February 2024.
1. Bitcoin:
- First blockchain network
- Focuses on value storage and P2P transactions
- High security and decentralization level
- Slow transaction speed and high fees
2. Ethereum:
- Smart contract platform enables various DApp development
- Active developer community and diverse DApp ecosystem
- ETH 2.0 upgrade in progress to address scalability issues
3. Tron:
- Focuses on content and entertainment industry
- High processing speed and low fees
- Concerns about centralization and technical controversy
4. Avalanche:
- Achieves scalability through subnet structure
- Fast transaction speed and low fees
- Interoperability with various blockchains
- Relatively new platform
5. Polygon:
- Ethereum scaling solution offering compatibility
- Fast transaction speed and low fees
- Efforts to build the Polygon ecosystem
There are many different kinds of networks. In order to make the practical use of cryptocurrency more convenient, it is necessary to directly exchange several coins using different networks.
The company created to solve this problem is Uniswap.
Uniswap is a decentralized exchange (DEX) protocol built on the Ethereum blockchain. Users can directly exchange ERC-20 tokens without the need for a centralized intermediary. It’s still in its infancy, but these moves will further advance the future of cryptocurrencies.