In the present scenario, the crypto community is expanding, with people adding every day at a high rate. There are many platforms introduced to the crypto community, among which are PancakeSwap and Uniswap.
PancakeSwap vs Uniswap
The difference between PancakeSwap and Uniswap is that PancakeSwap runs on Binance Smart Chain, which offers significantly lower transaction costs and on the other hand, Uniswap operates on Ethereumblockchain, which includes ETH for every Ethereum transaction and thus, in turn, increases the transaction cost by a pretty high amount in comparison to any other platforms.
PancakeSwap is a decentralized exchange that runs on Binance smart chain. Pancakeswap was introduced on 20th September 2020.
Uniswap is the most famous platform for decentralized crypto exchange, and it runs on the Ethereumblockchain. It enables the automated exchange of several cryptocurrency tokens.
|Parameters of comparison||PancakeSwap||Uniswap|
|TVL (total value locked)||TVL for PancakeSwap is$6.5 billion.||TVL in Uniswap exchange is$7.6 billion.|
|Transaction cost||Lower transaction cost.||Significantly rising every day.|
|No. of listed tokens||Listed around 200 crypto tokens.||Listed more than 1600crypto tokens|
|Runs on||Operates on Binance Smart Chain.||Operates on Ethereumblockchain.|
|Launch time||Launched on 20 September 2020.||Launched on 2 November 2018.|
What is PancakeSwap?
PancakeSwap is a decentralized exchange (DEX) platform that runs on Binance smart chain, which is somewhat similar to Uniswap, but it provides many other features other than the core features of Uniswap.
It was built on an automated market maker (AMM) system, a system that completely depends on user-fueled liquidity in order to allow crypto trades to take place.
These LP tokens can be used to reclaim the tokens by the liquidity providers that were deposited in any of the liquidity pools along with a part of the generated PancakeSwap fees.
It has a feature that allows users to bring tokens from other platforms via the Binance Bridge and wrap the tokens into the BEP-20 token to be used in PancakeSwap DEX.
What is Uniswap?
Uniswap was founded by Hayden Adams and was launched on 2 November in the year 2018. Uniswap was built on the Ethereumblockchain, and it was the most famous platform for the exchange of cryptocurrency tokens.
It gained recognition within a short period due to its automated solutions that used to solve the liquidity issues which other platforms were unable to solve back in the years before 2018.
It also has a feature that removes the identity requirements of the users so that any of the users have the authority to create their own liquidity pools for any kind of crypto tokens they hold.
Main Differences Between PancakeSwap and Uniswap
- PancakeSwap runs on Binance Smart Chain, whereas Uniswap operates on euthereum blockchains.
- Uniswap launched in the year 2018 on 2nd November, whereas PancakeSwap was launched in the year 2020 on 20th September. Thus, Uniswap had 2 years ahead of PancakeSwap and expanded so vast.
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I am Sandeep Bhandari; I have 20 years of experience in the technology field. I have various technical skills and knowledge in database systems, computer networks, and programming. You can read more about me on my bio page.