The Multichain Future of Mars4: MATIC vs BSC
We are reaching our destination, Mars4, a Metaverse of 3D virtual Mars. The big news is coming our way: we are moving forward with our platform and ready for innovations. Read further to find out more.
Mars4 is a building vast, complex and dynamic Metaverse with a high quality P2E game and it’s own self contained economy based on NFTs. For this, Ethereum Layer 1 is simply not scalable so we are exploring all options including alternative Layer 1s and Layer 2 Rollups.
Simply said, we are moving towards becoming a multichain project. That means that we will be using a different technology for our Mars in the future. We have two great candidates that we might be using alongside Ethereum: MATIC (also known as Polygon) and Binance Smart Chain (BSC).
Let’s start with Ethereum and how it works. Ethereum is a blockchain technology best known for its cryptocurrency, Ether, and network security. But it is not only that: compared to the most known cryptocurrency, Bitcoin, it is also a platform on which developers can create decentralized applications, or in short, dApps. This is how our Mars came to life too!
Ethereum is great, right? We agree, that is why we have built our fantastic Mars on it. Or should we say realistic because it is geographically exact as the Mars out there? Nonetheless, the times are changing fast, and we must adapt to ensure the best user experience possible. We owe it to you!
Why Ethereum does not satisfy our needs? While low throughput of Ethereum is frustrating, the elephant in the room is of course Ethereum gas fees. That happens because you are bidding against all the people who also want to make a transaction. Sadly, since Ethereum allows only 30 transactions per second, it increases the gas fee. Vitalik himself agrees that applications on the Ethereum network cannot scale, and that the future of Ethereum is via Layer 2 scaling solutions called rollups.
MATIC and BSC were built as solutions for these problems. Both platforms are used to develop and create dApps and digital assets. Not only that, but they also both help to scale the dApps. The big question is, which is better?
BSC was founded in 2020 and gained popularity due to lower gas fees, faster speeds. It operates similarly to Ethereum. Both platforms smart contracts are fully compatible. What are those smart contracts you might ask? Simply, smart contracts are programs that are built inside of a blockchain and run certain actions when predetermined conditions are met. Since the smart contracts of both platforms are compatible, you could say that in a way, BSC is a faster and cheaper version of Ethereum.
The big concern about BSC is centralisation. In a blockchain, for every action you make, you need someone to validate it. BSC biggest drawback is that this platform only has 21 active validators at any given time. Sadly, it makes BSC more centralized than most platforms out there.
MATIC is like BSC in many ways. MATIC has quite a few advantages over its parent chain Ethereum. As BSC, MATIC also offers better speeds and lower gas fees compared to Ethereum. Its mechanism is a bit different: MATIC is a so-called 2-layer Ethereum. What does it mean? It is a secondary framework and a protocol built on Ethereum. In simple words, you get the best Ethereum offers but with an upgrade.
Keep in mind that Ethereum 2.0 is coming out in 2022 and all the 2-layer solutions might become abundant. Therefore, we need a solution that will allow us to position ourselves between 2-layer and 1-layer platforms. MATIC integration allows exactly that. This way we could get the best of two worlds. We could provide the best service now and in the future.
As an honourable mention, we would like to present Metis. It is also a 2-layer solution to Ethereum problems mentioned before.
In this article, we presented two solutions to Ethereum’s high price and low-speed problem. One of them is BSC which allows us to get better speeds and minimize gas fees. Another one is the MATIC 2-layer solution which solves the same issues as BSC. While they differ in technology, they both are great ways to enhance our customer experience.