What is your favorite blockchain?

[KryptoBull]

Blockchain technology was probably born with Bitcoin in 2009 thanks to the proposal of Satoshi Nakamoto. After 15 years, the features and capabilities of blockchain have been developed and added a lot. Not only Proof-of-Work (POW), we have Proof-Of-Stake (POS), Delegated Proof-of-Stake (DPOS), Proof-of-Authority (POA), Proof-of-History (POH), Practical Byzantine Fault Tolerance (PPFT), Proof of Burn (PoB), Proof of Capacity (POC), Proof of Elapsed Time (POET)... ^{[1, 2]}. I have experienced some blockchains as a user, to be honest, I am not capable enough to understand the technological aspect of these consensus protocols. What I can evaluate is only the speed (tps) and transaction fee (USD), and these two parameters are also related to each other: the faster the blockchain, the lower the fee, and vice versa.

I have been participating in the market since 2017, and I have used blockchains such as Litecoin, Dogecoin, Ethereum, Waves, EOS, Solana, Avalanche, and most often BNB chain. I recently experienced the Bitcoin blockchain through the Electrum wallet application. Although it is not as cheap as other blockchains, the feeling of interacting with the Bitcoin blockchain is really different, especially when I found a way to reduce the transaction fee to the lowest level of ~ 1.5 USD when the Inscription trend was still very hot ^[3].

Although I really love the Bitcoin blockchain, I can't deny that I'm not happy with having to wait a long time and pay very high transaction fees compared to other blockchains. The same thing happened when I used Ethereum and paid a transaction fee of up to 20 USD in 2021. With EOS or Solana, transactions are almost instantaneous and transaction fees are only under 1 cent ^[4].

Of course, I do not deny the advantages of decentralization or the stability of other blockchains, even transaction fees kept at around 1-10 USD are considered necessary to help miners survive and continue to protect the network, and at the same time make it difficult for efforts to attack the network. I also understand the impossibility of the blockchain Trilemma ^[5], but from a user's perspective, I really like the Solana blockchain because it has a large ecosystem, has enough Dapps for user needs, high speed and very low fees. Luckily I haven't had any problems with Solana outages, maybe because I'm not a regular user on the Solana network, I only swap tokens when I really need to.

This is not investment advice for SOL or Solana tokens, I'm just sharing my own feelings when using the most popular blockchains. I myself only hold a few dozen USD in ETH, BNB and SOL to pay for transaction fees on DEXs, not as a long-term investment like BTC. I guess I was wrong not to accumulate and hold more ETH and SOL during the last crypto winter

I would like to know your views on blockchains in the market:

• What is your favorite blockchain and why: speed, transaction fees, profits?
• How often do you use that blockchain and for what purpose?
• Do you hold and consider the native token of that blockchain as a long-term investment?

References:
[1] Analysis of the main consensus protocols of blockchain
[2] Consensus Algorithms in Blockchain
[3] Bitcoin Average Transaction Fee
[4] Solscan: Fee tracker
[5] The Security Trilemma and the Future of Bitcoin
Note:

• My opinion was posted first in that topic, on Bitcointalk
• I leave the source link to avoid plagiarism accusation.
• I excluded/ included minor things from an original thread ^{if necessary}.

[hugeblack]

SOL or Solana is a centralized blockchain and has stopped working several times. If you ask investors why they use Solana, the answer will be because of the increased price and not the low fees.

Therefore, in terms of low fees, there are hundreds of blockchains that have low fees, yet their price did not react positively, and even SOL began to transform from a project that attracted hundreds of tokens into a DUMP dump coin.

Everyone here prefers profit, and if it is possible to make a profit from Bitcoin, it is certainly the best. There are second-tier solutions for daily transactions, or using some blockchains with low fees such as LTC. In short, every blockchain has something special, but Bitcoin is the only one that has continuous development.

[ABCbits]

SOL or Solana is a centralized blockchain and has stopped working several times. If you ask investors why they use Solana, the answer will be because of the increased price and not the low fees.

Therefore, in terms of low fees, there are hundreds of blockchains that have low fees, yet their price did not react positively, and even SOL began to transform from a project that attracted hundreds of tokens into a DUMP dump coin.

It's also worth to mention some blockchain have low fees because there aren't many transaction created. Low fees also doesn't matter much when there aren't many exchange, service or merchant that coin.

[bitmover]

I am impressed  , how come someone choose transaction speed or costs

Visa is here for decades, with low fee and instant transactions.

Cryptocurrency is not about speed or costs,  but freedom.

[MrSpasybo]

Of course, I do not deny the advantages of decentralization or the stability of other blockchains, even transaction fees kept at around 1-10 USD are considered necessary to help miners survive and continue to protect the network, and at the same time make it difficult for efforts to attack the network. I also understand the impossibility of the blockchain Trilemma ^[5], but from a user's perspective, I really like the Solana blockchain because it has a large ecosystem, has enough Dapps for user needs, high speed and very low fees. Luckily I haven't had any problems with Solana outages, maybe because I'm not a regular user on the Solana network, I only swap tokens when I really need to.
I would like to know your views on blockchains in the market:

• What is your favorite blockchain and why: speed, transaction fees, profits?
• How often do you use that blockchain and for what purpose?
• Do you hold and consider the native token of that blockchain as a long-term investment?

Blockchain aims to be decentralized and secure, but other factors are also necessary to retain users. Besides Bitcoin being the first blockchain and BTC being the king of the market, the remaining blockchains all have to compete with each other in terms of speed, transaction fees and user friendliness.

1. If I had to choose, I would choose EOS: high speed, low fees and friendly because it has a short and easy to remember account name, has 2 keys: owner and active, can update the key when necessary. These are things that have been on EOS since its early days in 2018, and are still being learned by other blockchains.

2. I only occasionally use the EOS blockchain, mainly to fund public goods projects on Pomelo and receive rewards from EOS Bees.

3. Even though I love the EOS blockchain, I do not appreciate the price increase potential of the EOS token. It was not able to create a new ATH in bullrun 2021, and currently the EOS token is pushed aside to focus on narrative RAM. I don't hold EOS as an investment, I just use it to pay transaction fee on EOS blockchain.

[Gurujebs]

I am impressed  , how come someone choose transaction speed or costs

Visa is here for decades, with low fee and instant transactions.

Cryptocurrency is not about speed or costs,  but freedom.

Ideally, that's what crypto is all about, that's what you believe in but what about the rest of the people? They are not here for speed nor the costs because many of them were paying $100 bucks to get their BRC20 across Bitcoin network, they were only after how to get many profits as possible in this place. That's why you see them jumping from one coins to another to get something at the end of the day. If crypto has been about freedom and we 100% cherish it, people will not even fear when bad news is spread about Bitcoin or crypto in general but the money wouldn't let them.

[KryptoBull]

I am impressed  , how come someone choose transaction speed or costs

Visa is here for decades, with low fee and instant transactions.

Cryptocurrency is not about speed or costs,  but freedom.

Visa is just a service, it does not have its own token with impressive growth potential or brings direct profits to investors, so Visa was not chosen.

When entering the market, many investors only care about profits: if possible, they will always choose blockchain that is fast, has cheap fees and has many opportunities to make money. Solana is almost a perfect ecosystem for these purposes.

We have to accept that very few people are truly interested in the technology or applications of blockchain in the future.

1. If I had to choose, I would choose EOS: high speed, low fees and friendly because it has a short and easy to remember account name, has 2 keys: owner and active, can update the key when necessary. These are things that have been on EOS since its early days in 2018, and are still being learned by other blockchains.

2. I only occasionally use the EOS blockchain, mainly to fund public goods projects on Pomelo and receive rewards from EOS Bees.

3. Even though I love the EOS blockchain, I do not appreciate the price increase potential of the EOS token. It was not able to create a new ATH in bullrun 2021, and currently the EOS token is pushed aside to focus on narrative RAM. I don't hold EOS as an investment, I just use it to pay transaction fee on EOS blockchain.

I'm also following EOS and am very interested in ENF's Bitcoin Layer-2 solution but I don't understand what they want to do with RAM and RAMS, everything is just to create a financial game inside EOS instead of finding ways to develop the ecosystem and serve users more effectively. I also gave up holding EOS when I didn't see much potential from this ecosystem.

[Stompix]

Visa is just a service, it does not have its own token with impressive growth potential or brings direct profits to investors, so Visa was not chosen.

When entering the market, many investors only care about profits: if possible, they will always choose blockchain that is fast, has cheap fees and has many opportunities to make money. Solana is almost a perfect ecosystem for these purposes.

Neah, investors don't give a damn about that!
Proof is that the top two coins are the slowest and most expensive to send of all!
Hundreds and thousands of coins were cheaper to transfer and faster yet they died 100 painful deaths of neglect already.

Investors are betting on positive news about a coin, some magic pump and then dump all the bags, you can see how all those miracle revolutionary coins have ended forgotten:
https://coinmarketcap.com/historical/
Nem, Dash, ETC, Waves, lisk, iota, nano....magical speeds and magical speed into second and third page.

3. Even though I love the EOS blockchain, I do not appreciate the price increase potential of the EOS token. It was not able to create a new ATH in bullrun 2021, and currently the EOS token is pushed aside to focus on narrative RAM.

-94.86% from their ATH 6 years ago, money pit!
4 billions raised and you have 6 years later a coin with a marketcap of 1.3 billions!
I would say it's worse that twitter (x) 

[bitmover]

I am impressed  , how come someone choose transaction speed or costs

Visa is here for decades, with low fee and instant transactions.

Cryptocurrency is not about speed or costs,  but freedom.

Visa is just a service, it does not have its own token with impressive growth potential or brings direct profits to investors, so Visa was not chosen.

Ofc visa has that.

That is what stock market is about
https://finance.yahoo.com/quote/V/

More than 1000% in 15 years.

[examplens]

I am impressed  , how come someone choose transaction speed or costs

Visa is here for decades, with low fee and instant transactions.

Cryptocurrency is not about speed or costs,  but freedom.

You are partly right, but certainly that the speed of transactions and the cost of the fee are important.

The biggest advantage for me right now is the simplicity of money management.

Unfortunately, everything ends up with hodl, and sell on high. It seems that the use value itself is being ignored, starting with Bitcoin and moving on to other currencies. Trading profit only.

[vegasus]

• What is your favorite blockchain and why: speed, transaction fees, profits?

So far, I  often use BSC and Polygon. For, they're fast and low transaction fee. Moreover, many more platforms and exchanges also provide these two blockchains, so I'm so pleased still using them for certain transaction.

Actually, I used to use other like TRX for certain platform, especially when sending any USDT. But, as time goes by, it turns out that BSC and Polygon are much cheaper. Yes, it's true that sometimes this also depends on the exchange or platform. Actually, I'm curious about Solana, because so far, I haven't tried it. However, many people say that it is actually cheaper and faster.

Do you hold and consider the native token of that blockchain as a long-term investment?

Yes, exactly, for some native tokens/coins of those blockchains, I think that they have the chances to be much worthier for even long term investment.

[Mr. Magkaisa]

I am impressed  , how come someone choose transaction speed or costs

Visa is here for decades, with low fee and instant transactions.

Cryptocurrency is not about speed or costs,  but freedom.

You are partly right, but certainly that the speed of transactions and the cost of the fee are important.

The biggest advantage for me right now is the simplicity of money management.

Unfortunately, everything ends up with hodl, and sell on high. It seems that the use value itself is being ignored, starting with Bitcoin and moving on to other currencies. Trading profit only.

           -   Well, that's really the main concept of trading, which is that we buy low and sell high, and this is where we benefit if we know when to make purchases and sales. That's what traders do most of the time here in this business field of the crypto space.

Now about the blockchain that I want to use, it depends on the token that I have, where I have good earnings; that's what I will use, of course, but usually I use BSC, sometimes Polygon, and Trc20 most of the time in terms of transactions if I am converting crypto into fiat.

[0t3p0t]

I am impressed  , how come someone choose transaction speed or costs

Visa is here for decades, with low fee and instant transactions.

Cryptocurrency is not about speed or costs,  but freedom.

Yeah and for me that freedom includes financial and privacy. Profit is what the result of all this and why most of us are taking part into cryptocurrency. With Bitcoin investments we are not exposed to the public masses and this remains our anonymity. Freedom is the reason why most of us use and  hodl cryptocurrency.

[Cryptsafe]

OP, I was discussing with my friend one day about blockchain and I asked him similar question about his major interest and focus on crypto currency projects and he told me this; "he is an investor and all he cares about blockchain and crypto is the profit he would take from his investment that's all" and funny enough, he has been in the crypto space for quite a long time and I can say he is fully grounded in the system.

I had to look into it myself and to be frank it dawned on me that what my friend said is some worth the reality as I was able to look into the activities of some big names in the world who are into crypto and things they do that affect the market sometimes. I realized that sometimes they do that to affect the market for them to take position and enter then they say another another thing again to pump the market up and they sell and take profit. This same thing happens over and over again.
In all, the main reasons why majority of people pick interest in crypto is for profit sake and nothing more.

[Gyrgen]

OP, I was discussing with my friend one day about blockchain and I asked him similar question about his major interest and focus on crypto currency projects and he told me this; "he is an investor and all he cares about blockchain and crypto is the profit he would take from his investment that's all" and funny enough, he has been in the crypto space for quite a long time and I can say he is fully grounded in the system.

I had to look into it myself and to be frank it dawned on me that what my friend said is some worth the reality as I was able to look into the activities of some big names in the world who are into crypto and things they do that affect the market sometimes. I realized that sometimes they do that to affect the market for them to take position and enter then they say another another thing again to pump the market up and they sell and take profit. This same thing happens over and over again.
In all, the main reasons why majority of people pick interest in crypto is for profit sake and nothing more.

Absolutely right. In crypt, technology has long gone by the wayside. Any cryptan will use the blockchain that is needed at the moment to make a profit. Up to the elementary transfer of funds from the trading platform, first of all we will look at the transaction price. That’s why this concept there is no preferred blockchain.For example, in the past I most often used the tron, now I increasingly use the opbnb matis solana arbitrium.