SMART Blockchain: Comparison with Popular Blockchains 

16 August 2023

There are more than 1000 blockchains in the cryptocurrency world (according to Earthweb), and just over 50 networks are suitable for creating decentralized apps (according to DappRadar statistics). This list keeps updating with new names, but old challenges still remain to be pressing. Blockchain creators keep competing to create a perfect blockchain that meets all the key performance requirements: scalability, transaction speed, network fees, and other important parameters. Which blockchain is more preferable, convenient, and usable?

Market Leaders

Please open DappRadar and see how many decentralized apps are deployed on each of the blockchains presented there. The service keeps track of a total of 14,433 dApps.

The top 2 leaders are:

  • BNB Chain (4912 apps deployed);
  • Ethereum (4210 apps);

Polygon (1579 apps), Tron (1368 dApps), Avalanche (498) and others are further down the list.

We can see that Ethereum has recently yielded the palm to BNB Chain and is ahead of it only in the NFT category (1187 NFT collections launched on the Ethereum standard versus 200 on the Binance Chain).

But in TVL (Total Value Locked), Ethereum confidently takes the first place with an attracted market capitalization of $50.98 billion. BNB Chain is only the third ($3.64 billion). TVL (Total Value Locked) is a metric that measures the total amount of all assets locked in DeFi protocols on a blockchain. This includes cryptocurrencies, stablecoins, and other digital assets that are locked in smart contracts for use in decentralized financial apps.

SMART Blockchain: Comparison with Popular Blockchains 

Source: Coinmarketcap

SMART Blockchain. A Fundamentally New Solution in the Cryptocurrency Market

The competition among blockchains remains high, and SMART, with its in-house ecosystem that has already attracted more than 2 million users, is a new project that has challenged the stability of Ethereum.

This blockchain is managed by an experienced team whose members managed to work in the crypto industry for more than 10 years and launch a number of successful startups before starting this network.

This blockchain is as simple as it can be for developers. SMART helps you quickly and easily deploy decentralized apps, generate digital tokens and integrate them into your projects. And the characteristics of the network make this blockchain the best choice among competitors.

SMART is not only a blockchain. The ecosystem includes:

  • The Smart Blockchain drives the Ultima token. The mission of the team is to make the token a universal means of payment throughout the world.

The developers of the SMART network are interested in the mass adoption of cryptocurrencies, so they introduced a blockchain that combines ease od use and maximum security.

Comparison of the Main Characteristics of SMART with those of Other Blockchains

 SMARTBitcoinEthereumBNB ChainLitecoinSolana
Consensus AlgorithmDelegated Proof-of-StakeProof-of-WorkProof-of-Stake (recently adopted)Proof-of-StakeProof-of-WorkProof-of-Stake
Transaction processing speed2000 transactions per second7 transactions per second25 transactions per second100 transactions per second50 transactions per second65,000 transactions per second
Block generation frequency (confirmation time)3 seconds10 minutes10–19 seconds3 seconds2.5 minutes4 seconds
Network fee (average)$0.000005$1.54$1.09$0.20$0.03$0.000125
Ecosystem YesNoNoYesNoYes
Token burning mechanism YesNoNoYesNoNo

SMART: The Best Solution for Deploying Decentralized Apps Right Now

A comparison of top networks’ characteristics shows that SMART outperforms its competitors in key metrics. If we compare the SMART blockchain with Ethereum and BNB Chain, the current market leaders, we can clearly see the advantages in the transaction processing speed and network fees, and these parameters play a key role for the end user.

The table shows that the Solana blockchain, which outperforms SMART in the transaction speed and practically not inferior to it in network fees, can compete with this network. However, the Solana blockchain has repeatedly found itself in the thick of scandals (network clock fault, network hacks, etc.), so trust in it has fallen significantly both among investors and an average user. SMART is not involved in scandals and has a higher degree of security.

What do we get? Smart is a developer-friendly network with high transaction speeds, fast confirmation, virtually no fees, a native ecosystem, a native coin, and a deflationary coin burning model. ь