

In Comparison: The Internet Computer vs. Other Blockchains



The Internet Computer comparatively outperforms all other major blockchain networks, fitting its potential to reinvent the internet.
Internet Computer Compared to Other Blockchains
The Internet Computer is here to usher in a new blockchain revolution. As the world moves to bring more of our lives on chain, the scalability, speed, and security of each blockchain are crucial to its potential adoption in the mainstream.
So far, Ethereum has reigned supreme across the blockchain in terms of popularity. As the original smart contract deployer, Ethereum ushered in the world of Web3 recognizable today.
But there is another step coming. One which has the power to grow the world of Web3 at a level unattainable by any other blockchain at this time. The level will be reached by the Internet Computer.
Here we take a look at the Internet Computer in comparison to other major blockchain networks in Web3 to see why it has the potential to usher in this new revolution.
Consensus Mechanism
The blockchain industry has operated mainly between two basic consensus systems so far: proof-of-work and proof-of-stake. Apart from Bitcoin, nearly all major networks now operate with a proof-of-stake model. The Internet Computer system has its own Chain Key innovation to perform blockchain processes without limits.
- Ethereum: proof-of-stake (PoS) consensus protocol
- BNB Chain: proof-of-staked-authority (PoSA)
- Solana: proof-of-history (PoH) and proof-of-stake (PoS) mechanism
- Avalanche: proof-of-stake (PoS) consensus protocol
- Internet Computer: Chain key technology, threshold relay
Validator Count
Validator count is a key metric for measuring the relative centralization and scalability of a blockchain.
- Ethereum: very decentralized, has over 500,000 validators
- BNB Chain: very centralized, has around 40 validators
- Solana: moderately decentralized, has over 2,200 validators
- Avalanche: moderately decentralized, has over 1,200 validators
- Internet Computer: moderately decentralized, unlimited nodes capabilities, has over 1, 200 validators
Storage Data Cost
The data storage capability of the ICP system also helps it stand out. The network stores
All other chains resort to data API packagers like Bitquery to manipulate the data and then usually store the data on conglomerate Web2 providers like Amazon and Google. The ICP way of storing data is more ecological as well as smarter economics because it stores the data entirely on chain without the need for any third-party providers.
- Ethereum: $79 million estimated annually via third party
- BNB Chain: price unknown
- Solana: $110k per gigabyte estimated annually via third party
- Avalanche: price unknown
- Internet Computer: $5 annually, completely on chain
Scalability
So far, the blockchains of the world have been surprisingly limited in ability. For the world of mass adoption to arrive, chains like Ethereum and BNB Chain, which are the most active and voluminous chains in the world, must improve throughput capabilities to accommodate more transactions. The ICP does not have that problem and uses exponentially growing subnets of nodes to allow indefinite scalability.
- Ethereum: Improving scalability
- BNB Chain: Moderate scalability
- Solana: Unreliable network and scalability
- Avalanche: Varied scalability
- Internet Computer: Unlimited scalability
Blockchain Speed
Every blockchain has different speeds and capabilities. Unlike with scalability, the metrics are measurable and comparable. Metris like block size, block time, average transaction size, and transactions-per-second (TPS) can be used to compare the processing speed of a blockchain. Using its innovative Chain Key feature, the Internet Computer is by far the fastest blockchain processor.
- Ethereum: 100,000 TPS for ETH 2.0 / 14 minutes finality
- BNB Chain: 300 TPS / about 1-minute finality
- Solana: 50,000-65,000 TPS / between 13-46 seconds finality
- Avalanche: 4,500 TPS (per subnet) / about 2-3 seconds finality
- Internet Computer: No limit / near instant (user’s web speed)
Transaction Fees
The fees to facilitate transactions are a key metric for users. If the fee is too big, it does not always merit the transaction for some users. The opportunity costs are too high. But as chain scale and grow, the fees can come down. ICP, with all its advanced tech, understandably had one of the fastest speeds.
- Ethereum: a few dollars in $ETH
- BNB Chain: under $1 in $BNB, average $0.18
- Solana: fractions of pennies in $SOL, average $0.00025
- Avalanche: pennies, around $0.03 in $AVAX
- Internet Computer: fractions of pennies, around $0.0005 in $ICP
Conclusion
The Internet Computer outperforms all blockchain networks in nearly every metric. The burgeoning ICP ecosystem has enormous potential to outgrow the other networks due to its innovative, advanced technology. The future of Web3 has a chance to be defined by the Internet Computer because of the unique abilities that set it apart from the rest of the networks. It’s truly a next-level upgrade for blockchain technology.
Note: Much thanks to the Nov. 5 post by Abel Odoh at Infinity Swap which was a major resource for this article.
What is the Internet Computer:
Internet Computer (ICP) is a set of protocols that allow independent data centers around the world to band together and offer a decentralized alternative to the current centralized internet cloud providers. The Internet Computer is a World Computer blockchain that can host and run mass-market social networks, online games, video streaming services, or enterprise systems entirely on the blockchain itself — eliminating the need for centralized IT and cloud services. The native ICP token is used for governance (holders can vote on the future of the network), to reward network participants for good behavior, and is used to pay fees for making transactions.
Where to find the Internet Computer:
Website | Twitter | Medium | Discord |
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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The Memecoin Hype: How Social Media Drives Frenzies and Price Surges

Uncovering the rise of memecoins, their reliance on social media platforms like Reddit and TikTok, and the cautionary factors investors need to consider.
TL;DR:
- Memecoins, cryptocurrencies based on memes, have gained massive attention and generated price surges.
- Social media platforms like Reddit and TikTok are crucial in promoting memecoins and creating frenzies.
- FOMO drives retail investors to rush into memecoins, but they often lack fundamental value and carry high risks.
- While price surges can occur, memecoins are volatile, and investors should approach them with caution, conducting thorough research and diversifying their portfolios.
Memecoins have taken the world by storm, drawing massive attention and generating unprecedented price surges. What sets them apart from traditional cryptocurrencies is their reliance on social media platforms for promotion and the subsequent frenzies they create.
This article explores the memecoin hype and how social media plays a pivotal role in driving these frenzies and price surges.
The Rise of Memecoins
Memecoins, as the name suggests, are cryptocurrencies primarily based on memes or internet culture. They typically gain popularity through viral internet trends and memes, which are shared and spread rapidly across various social media platforms.
One of the earliest and most well-known memecoins is Dogecoin, which started as a joke in 2013 but has since gained a dedicated following and achieved substantial market capitalization.
The Power of Social Media
Social media platforms like Reddit, Facebook, Twitter, and TikTok have been breeding grounds for memecoin hype. These platforms allow users to share ideas, content, and investment tips with a vast audience. When a memecoin catches the attention of influential individuals or gains traction within online communities, it can rapidly snowball into a social media frenzy.
The influence of social media platforms on memecoins cannot be understated. They create an environment where trends can be born and spread rapidly, leading to a surge in demand and subsequent price appreciation.
The Frenzy Begins
When a memecoin gains traction on social media, it often leads to a frenzy among retail investors. FOMO, or the Fear Of Missing Out, kicks in as individuals witness others making substantial gains quickly. As a result, people rush to buy into the memecoin, hoping to ride the wave of hype and turn a quick profit.
This behaviour is not without risks. Memecoins often lack fundamental value and are driven solely by speculative demand. Investors can easily get caught up in the excitement, disregarding traditional investment principles and the potential risks. In contrast, some individuals manage to make significant profits.
Price Surges and Volatility
The frenzies created by social media can lead to massive price surges for memecoins. These price spikes are often irrational and detached from any underlying fundamentals. The combination of high demand, limited supply, and speculative trading can create a perfect storm that drives prices to unprecedented levels.
However, the volatility of memecoins is a double-edged sword. While some investors benefit from the price surges, others suffer significant losses when the bubble eventually bursts. Moreover, the market corrections following such surges can be swift and severe, leaving investors scrambling to exit their positions.
Investing in Memecoins: Proceed with Caution
For those considering investing in memecoins, it's crucial to approach the market with caution and a healthy dose of skepticism. While some individuals have made significant profits during the hype, it's essential to understand the risks and speculative nature of these assets.
Here are a few factors to consider before diving into memecoins:
1. Do Your Research: Before investing in any cryptocurrency, including memecoins, thoroughly research the project, its underlying technology, and the team behind it. Understand the tokenomics and assess the potential long-term value.
2. Be Mindful of Hype: Don't let FOMO drive your investment decisions. Just because a memecoin is gaining attention on social media doesn't guarantee its long-term success or value. Separate genuine potential from mere hype.
3. Diversify Your Portfolio: Investing solely in memecoins is highly risky. Instead, diversify your investment portfolio by including established cryptocurrencies with solid fundamentals and other traditional assets.
4. Set Realistic Expectations: Memecoins can experience extreme volatility, so it's essential to set realistic expectations and not invest more than you can afford to lose. Avoid investing your life savings or funds meant for essential expenses.
5. Stay Informed: Keep up with the latest news, market trends, and regulatory developments. Then, stay vigilant and be prepared to adapt your investment strategy accordingly.
Conclusion
The memecoin hype driven by social media has undeniably captured the attention of the cryptocurrency world. These assets, often born out of internet culture and viral trends, have witnessed meteoric price rises, creating excitement and concerns. However, while the social media-driven frenzy can offer opportunities for profits, it also carries significant risks and ethical implications.
Investors must exercise caution, conduct thorough research, and approach memecoins with a level-headed mindset. The memecoin phenomenon serves as a reminder that, in the rapidly evolving landscape of cryptocurrencies, critical thinking and due diligence are paramount to navigating the market's ever-changing tides.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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