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SafeMoon Vs Bitcoin: How to examine these two cryptocurrencies?

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Oodles Blockchain
SafeMoon Vs Bitcoin: How to examine these two cryptocurrencies?

SafeMoon (SAFEMOON-USD) is a new kid on the crypto block as compared to Bitcoin (BTC-USD). About cryptocurrency, then Defi token development like SafeMoon is one of the most gossip crypto blocks. Here is what you need we need to know if thinking about buying it.

You have heard about SafeMoon if you continue with cryptocurrency much. Even though it has built an impressive following through good marketing and high early returns only in a few months.

At this stage, neither cryptocurrency meets our expectations of an investment. But for usurers and traders, the benefits could be value the risk.

How SafeMoon, is different from Bitcoin?

On the Binance Smart Chain, the SafeMoon is a BEP-20 issued token. Changpeng Zhao, the maker of Binance, has accepted that BSC is not decentralized.

Proof of Authority

Binance Smart Chain for Smart Contract uses a proof of authority consensus mechanism. The knowing of block generator is a validator in POA. Binance selects and pre-approved these validators. So the fame like real identities, investing money for a long-term commitment, and being equal to all makes proof of authority based on design.

In this model, over the blockchain, the Binance has complete control. Although, the trust of all chain users that Binance will behave in everyone’s best interest.

Proof of work

A proof of work is the consensus mechanism Bitcoin uses, which is different from the SafeMoon mechanism. Although, Blockchains development uses proof of work original consensus mechanism. That has proved to be very successful at securing a decentralized system from bad actors.

In proof of work, to confirm transactions and to process, computers compete with each other. Although, the giving of Bitcoin is for completing a new block of transactions and is also known as miners.

Thus this process helps to secure the network and is very energy-intensive. With many thousands of nodes and miners across the globe today, Bitcoin is a distributed and decentralized network.

Conclusion

The comparison between SafeMoon VS Bitcoin tells that in some parts, SafeMoon is lacking as it has got complicated structure than bitcoin. The consensus mechanism is also the difference between them. Although, the SafeMoon has not proved itself.



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