The demand for BSC network has increased due to increase in gas fee of Ethereum network. Most of the Altcoin projects are now using the BSC network. Even some Ethereum network's Altcoin project is switching to BSC / Polygon network.
But now it is seen that some Altcoin project is being launched in Polygon network. We know that gas fee of BSC network is very low and transaction speed is high. So for which benefit, all these projects are being launched on Polygon network instead of BSC?
Well i think nowadays we have so many L1-projects or L2-projects that are all offering smart contract functionality that we really have a big choice now, which network we want to use. Back in the day there only was Ethereum which offered smart contracts and that was a huge game changer for the whole crypto space because smart contracts were necessary for all the stuff that we are having today with NFT's, tokens and of course Defi with it's yield farms and so on.
Obviously ETH had huge problems during high traffic phases which made it almost unusable for small investors like me because a transaction often did cost more fee than the value of the transaction itself was.
Polygon and BSC are both having relatively low transaction fees so there is no big difference in that regard. It all comes down to which chain has the bigger adoption.