Ethereum Vs Binance Smart Chain: The Ultimate DApp Marketing Guide
April 8, 2022
As blockchain technology becomes more popular, dozens of new decentralized projects have either launched or are in the planning stages. According to market research firm International Data Corporation, blockchain spending is expected to reach $11.7 billion in 2022. The fact that blockchains are still in their infancy, there are numerous business opportunities, but before diving headfirst into developing and marketing a dApp, choosing the right blockchain network is among the most important step for dApp creators.
Nowadays, there are many different blockchain platforms to choose from, unlike a few years ago, when Ethereum was the only blockchain network available and the most popular blockchain technology. While Ethereum remains the king of the hill, other blockchain platforms have begun to catch on, and Binance Smart Chain is the leading blockchain network.
In this article, we will discuss the blockchain marketing strategies you need for Ethereum and Binance Smart Chain based blockchain projects.
But first, let's look at how the two blockchain networks stack up
Why choose Ethereum for your blockchain project?
Ethereum is a decentralized open-source blockchain network with smart contract capabilities and the second most popular blockchain platform after Bitcoin. As the world's first smart contract platform, Ethereum is at the forefront of the blockchain ethos, enabling developers to build and run decentralized applications, NFTs, and smart contracts. In addition, Ethereum is a well-established network with years of operation and billions of dollars in value exchanged. It has the world's largest and most committed blockchain and cryptocurrency community and the most extensive ecosystem.
However, there is a catch: as Ethereum's popularity has grown, it has resulted in increased transaction fees and network congestion. On a good day, Ethereum transaction fees, also known as "gas," range between $20 and $70, which is excessive compared to other blockchain networks. Currently, approximately 3183 dApps are running on ETH, with a total value of $130 billion+ locked across all dApps at the time of writing this article.
Yes, building a dApp on Ethereum is costly, but this high cost is understandable for the high quality. Companies that use Ethereum are aware that they will pay a high transaction fee, but they are confident that each transaction and their funds will be secure on Ethereum.
Why choose Binance Smart Chain (BSC) for your blockchain project?
The Binance Smart Chain (BSC) is a decentralized and open-source blockchain platform designed for running smart contract-based applications that support the development of decentralized applications. The Binance Chain runs in parallel with BSC, allowing users to benefit from both the high transaction capacity of the Binance chain and the smart contract compatibility of BSC. Furthermore, BSC has one of the quickest transaction times and lowest gas fees, making it an ideal ecosystem for dApp development.
While it runs concurrently with Binance Chain, BSC is a stand-alone blockchain that supports Ethereum Virtual Machine (EVM), which is interoperable with other blockchain networks and has a lower transaction cost than the Ethereum network. There are currently 3069 dApps running on BSC, and a total value of $14 billion+ locked, it is the third-highest in the industry. The EVM compatibility allows developers and blockchain entrepreneurs to build or migrate dApps from Ethereum's ecosystem quickly. This enables users to configure applications such as MetaMask to work with BSC easily.
Blockchain marketing strategies for ETH projects
Place emphasis on organic marketing.
Since it is the first blockchain to implement smart contracts, dApps, DeFi, NFTs, and other features, it has one of the oldest communities in the blockchain space. Ethereum users place a premium on quality over quantity. If the goal of your dApp is to provide long-term value to its users and a high price is not an issue, Ethereum is the way to go.
Instead of focusing on marketing strategies that provide short-term growth, place emphasis on organically growing your audience. Because the Ethereum community is the oldest, you can target the OG crypto forums and websites, such as Bitcointalk or subreddits such as r/FIRE, r/wealthbuilding, etc., to spread the word and grow organically. This works especially for DeFi projects looking for customers to hodl for the long term.
Malcolm Gladwell explained in his book The Tipping Point that there are three main factors for an influential trend:
- The law of the few: a small group of people (your project's supporters) who will spread the word like wildfire.
- Stickiness: the concept must be intriguing, memorable, or addictive somehow.
- Principle of context: to create an environment in which people are compelled to care.
The Ethereum community primarily comprises hodlers who have been involved in the crypto space for many years and understand and trust in the technology. As a result, rather than seeking quick profits, most Ethereum users invest in projects that they like and believe in. Focus on onboarding people who believe in your project and can spread the word about it like wildfire.
When marketing to Ethereum users, it is best to share your project's long-term vision and roadmap and the benefits your project will provide, such as a closed community, collaborations with other popular projects, real-world private events, and so on.
Collaborate extensively with influencers and crypto websites.
Influencer marketing for your dApp should be one of your core strategies because it helps build trust among your target audience. The more influencers you collaborate with, the more buzz you'll generate, and your project will become more popular. Don't wait for your project to go live before reaching out to influencers; instead, begin as soon as possible to help you build hype around your dApp.
Get your project published on prominent cryptocurrency websites such as Cointelegraph, bitcoin.com, and so on, as this will help your target audience learn more about you in their research and link building for your SEO. Getting featured in top crypto and NFT publications are the best way to establish your brand image. Millions of people read these blogs and magazines. Getting their attention is essential for standing out.
Create an organic SEO strategy
Search Engine Optimization (SEO) is among the most powerful and effective forms of marketing available to cryptocurrency businesses. When your project begins to gain traction, people will want to learn more about you and search for your project on search engines such as Google or watch YouTube videos. This is where you can use SEO to provide all of the information your audience requires. Because your brand name is your keyword, it is critical that you rank for it. It would be best if you also ranked for keywords relevant to your project that your target audience is searching for.
Create a community of your token holders and followers
We've talked a lot about how important community is for a crypto project. A community is an online group on platforms such as Discord, Reddit, Telegram, and others where your token holders and followers can discuss your project and help you shape its future. We repeat, no cryptocurrency project can be successful without a strong community.
It is common for successful crypto projects to have a large and engaged community. BAYC, for example, has developed a brand without the use of marketing, digital advertising, or extensive social media outreach. They harnessed the strength of the community by bringing their audience together and creating a brand that serves as a badge of honour and a pass for everyone who is a member of the exclusive community.
Blockchain marketing strategies for BSC projects
Reddit is a goldmine for reaching out to the most relevant audience for crypto projects. However, the standard rules of digital marketing do not apply on Reddit. Users on the platform actively moderate posts on, and if your post receives too many downvotes, it will be hidden from the viewers. So, for crypto marketers and entrepreneurs, breaking into these communities that are resistant to traditional advertising is a real challenge.
As a result, cryptocurrency brands must be more cautious and focused in their approach. It is critical to engage on Reddit and only post high-quality content, as posting spammy sales pitches on Reddit will not yield the desired results. Advertisements on Reddit can get you a lot of views while also putting you in front of your target audience. Using Reddit Ads to run a series of promoted campaigns is one way of achieving success with your blockchain marketing on Reddit.
Create a strong community around your dApp
A strong community is the backbone of every popular crypto and blockchain project, regardless of which blockchain network you use. Community management is a critical component that can elevate or demolish a project. Working with the community is an important characteristic that distinguishes great and long-lived startups from bad ones. It is critical to listen to community feedback, implement new features, and strive to improve the project on the community's path.
Promote your project on forums and listing websites
With the growing popularity of the blockchain space, some forums and portals allow you to list and promote your project while also showing users its progress. Many dApp investors and users use these websites to find upcoming projects in which they can participate.
Read More: 7 IDO Launchpads you should know about
Marketing should be a crucial element when deciding which blockchain you want to use for your DeFi project
Since last year, we've seen an increase in the number of blockchain platforms with the potential to compete with Ethereum. As a result, it is more important than ever for blockchain entrepreneurs to select the blockchain platform to build their dApp carefully. They should also consider the marketing opportunities that each blockchain network can provide in the short and long term for the success of their applications.
You might also like: