I hope that ETH v2.0 will solve this problem or other chains will surely take over their place in the near future.
Not sure if the eth2.0 will really solve the problem on gas fee. Also it will take a while before this happened. I am thinking that there are more platforms that will come out that are solving the kind of issues on gas transaction like what Binance smart chain did. But over time these fee on Binance will definitely increases too. So other players may probably step up. 
Topic: Binance Smart chain ( BSC) VS Ethereum (ERC-20) - page 2. (Read 479 times)
The only advantage of BSC network is it has low fee which is quite efficient to some users compared to eth blockchain. But in terms application, we can see the eth network as truly a defi ecosystem where not just farming, loan and other types of defi classification can be found. But I give CZ a thumbs up for a well job done on making the BSC network grow like fire. Well that's good that he can maintain pace on a defi ecosystem trending.
CZ really can take momentum of many traders anger because of the high gas fee issue.
I think BSC will still be DeFi platform alternative until Ethereum resolve the high gas fee issue.
I agree with both of you. The BSC network takes momentum from the frustration of the people out of the Ethereum network. But I think it would have been a completely different story had the Ethereum network succeeded earlier in addressing the problems with fees. The BSC network got its value and popularity because of Ethereum's failure. This might change though once the Ethereum network has finally solved the high fees problem.
The obly problem I see in Ethereum blockchain is its expensive gas fee. It is not friendly for microtransactions. I have this one project which I supported almost a few years back, now they will have to rebrand and make a swap. The fees will be more expensive than the current value of the coin I am holdong which makes me really feel bad. I hope that ETH v2.0 will solve this problem or other chains will surely take over their place in the near future.
If i would choose between ethereum and bsc for long term hold i choose ethereum because it is truly decentralized and i believe they will solve the problem about scalabilty issue but for now i choose bsc because of cheaper fees but i have fear holding bnb for long term because government has the power to stop this if it is centralized.
Exactly, BSC despite all the advantages offered, i'm still not sure whether i'm gonna use that for a long term, right now it's adopted by many because eth fee, but people could ditch like anytime to eth again since anything already available in eth blockchain.and the fact that this kinda centralized is such a deal breaker, most of people gonna reside temporarily in there I guess but eth still the final choice for most of people.
The only advantage of BSC network is it has low fee which is quite efficient to some users compared to eth blockchain. But in terms application, we can see the eth network as truly a defi ecosystem where not just farming, loan and other types of defi classification can be found. But I give CZ a thumbs up for a well job done on making the BSC network grow like fire. Well that's good that he can maintain pace on a defi ecosystem trending.
CZ really can take momentum of many traders anger because of the high gas fee issue.
I think BSC will still be DeFi platform alternative until Ethereum resolve the high gas fee issue.
I agree with both of you. The BSC network takes momentum from the frustration of the people out of the Ethereum network. But I think it would have been a completely different story had the Ethereum network succeeded earlier in addressing the problems with fees. The BSC network got its value and popularity because of Ethereum's failure. This might change though once the Ethereum network has finally solved the high fees problem.
If the ETH developers are just making it happen as soon as possible before this bull run, fees wouldn't be a problem today. But you know what, even if ETH is on its development to 2.0 to solve a lot of things. People today won't think about its attributes with BSC as long as they pay the lowest fee that they can fee and save a lot from it. That's the important matter that's everyone thinking and just ignore the other attributes that you have shown.
All other attributes can be minimized if we are paying high gas fees like what Ethereum is currently charging. Ethereum has become like an inutile platform to me, they know the problem and may have been experienced it themselves, yet they are just staring at it offering no solid and time-bound assurance for all of us. I would gladly be transferring to BSC just for the lower fees, don't care if it is centralized or not. BSC is getting more popular every day and there can be more new projects using it.
Ethereum needs to implement the whole of update to prove it. I do believe there are lots of people have been taking the centralization of binance exchange and its ecosystem as the main concern but they have no choice consider the problem in ethereum network takes a long time to be solved. That makes people will not able to move from ethereum to the binance.
The developers are also thinking about that too.
The developers are also thinking about that too.
legendary
Activity: 2576
Merit: 1043
Little_Mouse Campaign Management | OrangeFren.com
Right now, project devs choose to make a project under Binance Smart Chain because of the huge fees of Ethereum right now.
Lets just wait for ETH 2.0 to be released in public then lets see what will happen into it. I don't want to expect too much with ETH 2.0 but if this will be the solution so that the fees will be lowered by that much then I'm pretty sure that there will be more projects that will be done under Ethereum Blockchain.
For now, if you are a supporter of ETH just buy and hold it and wait for ETH 2.0 to be released
. It can be a game changer in terms of DAPPS.
Lets just wait for ETH 2.0 to be released in public then lets see what will happen into it. I don't want to expect too much with ETH 2.0 but if this will be the solution so that the fees will be lowered by that much then I'm pretty sure that there will be more projects that will be done under Ethereum Blockchain.
For now, if you are a supporter of ETH just buy and hold it and wait for ETH 2.0 to be released
. It can be a game changer in terms of DAPPS. 
Bigger competitor both coin platform ERC20 versus BSC or Binance Smart Chain because both coin have any feature, exactly for BSC become interesting coins right now because giving lower fees transaction and ERC20 make many trader and investor crazy they have pay high for fees when using ERC20 coin platform. I think if ERC20 keep the same fees right now maybe many trader and ICO investor will choose BSC coin platform.
If the ETH developers are just making it happen as soon as possible before this bull run, fees wouldn't be a problem today. But you know what, even if ETH is on its development to 2.0 to solve a lot of things. People today won't think about its attributes with BSC as long as they pay the lowest fee that they can fee and save a lot from it. That's the important matter that's everyone thinking and just ignore the other attributes that you have shown.
All other attributes can be minimized if we are paying high gas fees like what Ethereum is currently charging. Ethereum has become like an inutile platform to me, they know the problem and may have been experienced it themselves, yet they are just staring at it offering no solid and time-bound assurance for all of us. I would gladly be transferring to BSC just for the lower fees, don't care if it is centralized or not. BSC is getting more popular every day and there can be more new projects using it.
The only advantage of BSC network is it has low fee which is quite efficient to some users compared to eth blockchain. But in terms application, we can see the eth network as truly a defi ecosystem where not just farming, loan and other types of defi classification can be found. But I give CZ a thumbs up for a well job done on making the BSC network grow like fire. Well that's good that he can maintain pace on a defi ecosystem trending.
CZ really can take momentum of many traders anger because of the high gas fee issue.
I think BSC will still be DeFi platform alternative until Ethereum resolve the high gas fee issue.
I also think that ethereum is still better than other coins, especially BSC. It's just that the thing that makes us doubt about Ethereum is its very high feeble. If the problem has been resolved, I think that ethereum is very difficult for BSC to catch up. after all, I'm not a supporter of either, but I like to see the race in a positive light like this.
The only advantage of BSC network is it has low fee which is quite efficient to some users compared to eth blockchain. But in terms application, we can see the eth network as truly a defi ecosystem where not just farming, loan and other types of defi classification can be found. But I give CZ a thumbs up for a well job done on making the BSC network grow like fire. Well that's good that he can maintain pace on a defi ecosystem trending.
Now the Binance Smart chain (BSC) is being widely used by crypto users who generally used Ethereum in the past (ERC-20), because the cost has not gone down until now, some people have considered using the Binance Smart chain ( BSC) for now which is going to be bad for Ethereum (ERC-20), so I think the two of them will be quite a balance in the future.
Just imagine, where #ethereum can go when gas fees issue solved properly, its just matter of time.
1. BSC chain is centralized (controlled by binance)
2. $ETH is decentralized. (Truely decentralized)
1. BSC has only 21 validators
2. Currently morethan 70k validators on $ETH beacon Chain.
3. Real DEFi potential is on ETH chain..
I'm just saying, its matter of time, sooner or later we'll see real $ETH potential..
I am not a bigger fan of Ethereum or a hater of BSC. I also hate eth fees. It's just a opinion. I could be wrong. I am not an expert i am just an average.
I hope expert give his opinion on this matter.
It is a very good comparison! 1. BSC chain is centralized (controlled by binance)
2. $ETH is decentralized. (Truely decentralized)
1. BSC has only 21 validators
2. Currently morethan 70k validators on $ETH beacon Chain.
3. Real DEFi potential is on ETH chain..
I'm just saying, its matter of time, sooner or later we'll see real $ETH potential..
I am not a bigger fan of Ethereum or a hater of BSC. I also hate eth fees. It's just a opinion. I could be wrong. I am not an expert i am just an average.
I hope expert give his opinion on this matter.
Ethereum is a very good choice even when fees are high currently. It will be solved but people need to be patience. Binance is not really a solution, because it is very centralized (21 validators). Binance Coin has a very high price currently and when people realize it, price will drop again.
For now, I can see Avalanche (AVAX) as a top solution because it has low fees, fast confirmations and is decentralized (800 validators and can achieve even more) as a good solution for modern DeFi. Avalanche has also recently launched a new decentralized exchange, Pangolin, for swap coins. Avalanche is really working at a good solution here.
Or we wait for Ethereum 2.0, we just need to be patience. Ethereum 2.0 will be good for sure.
Agreed and you have mentioned the important point if BSC is totally centralized and fully controlled by binance itself.
There are some news about the next hardfork for ethereum will be happening soon to fix the fees problem that already faced by all of the ethereum users. it seems like that if that will bring the BSC users to the ethereum again.
There are some news about the next hardfork for ethereum will be happening soon to fix the fees problem that already faced by all of the ethereum users. it seems like that if that will bring the BSC users to the ethereum again.
I agree on this. Ethereum has done so much than Binance. Binance is more like following the footsteps of Ethereum. In terms of potential, Ethereum has so much to offer than Binance. Ethereum has explored and discovered much on its own. Ethereum has not gone to the top copying other projects or focusing on what other projects are weaker or slower.
But it is also true that with the rising Ethereum fees you cannot blame the people if some of them are really looking for an alternative. And they found Binance. So Ethereum needs to address this issue because it causes some supporters to use other options.
But it is also true that with the rising Ethereum fees you cannot blame the people if some of them are really looking for an alternative. And they found Binance. So Ethereum needs to address this issue because it causes some supporters to use other options.
1. BSC chain is centralized (controlled by binance)
2. $ETH is decentralized. (Truely decentralized)
They are not decentralized. ETH is controlled by Vitalik and his core team. BSC is controlled by ChangPeng Zao and Binance team.2. $ETH is decentralized. (Truely decentralized)
Quote
I'm just saying, its matter of time, sooner or later we'll see real $ETH potential..
They have different potential to grow more and to get profit you don't have to invest in better projects. Your profit will come from your entry price, the time you make that entry and how coin will rise or fall after your entry.Binance Smart Chain brings diversification and one more good option for developers, communities so it is good generally. In contrast, as they are owned by Binance, it gives more power on Binance and any thing happens with Binance will cause more bad news for crypto market.
Just imagine, where #ethereum can go when gas fees issue solved properly, its just matter of time.
1. BSC chain is centralized (controlled by binance)
2. $ETH is decentralized. (Truely decentralized)
1. BSC has only 21 validators
2. Currently morethan 70k validators on $ETH beacon Chain.
3. Real DEFi potential is on ETH chain..
I'm just saying, its matter of time, sooner or later we'll see real $ETH potential..
I am not a bigger fan of Ethereum or a hater of BSC. I also hate eth fees. It's just a opinion. I could be wrong. I am not an expert i am just an average.
I hope expert give his opinion on this matter.
1. BSC chain is centralized (controlled by binance)
2. $ETH is decentralized. (Truely decentralized)
1. BSC has only 21 validators
2. Currently morethan 70k validators on $ETH beacon Chain.
3. Real DEFi potential is on ETH chain..
I'm just saying, its matter of time, sooner or later we'll see real $ETH potential..
I am not a bigger fan of Ethereum or a hater of BSC. I also hate eth fees. It's just a opinion. I could be wrong. I am not an expert i am just an average.
I hope expert give his opinion on this matter.
Yes BSC chain is completely centralized there no doubt but is cheap and way more fast. When is comes to high fees ETH is dominating it and that is the biggest concern. Most of us here are looking ways to avoid those high fees until it is done people will go for BSC.
Fees do matter specially if you are an utility token. Transferring $10 of eth based stablecoin like USDC is not possible at the moment. And looking at the shift on people preference on USDT, all of them are moving towards alternative with cheaper fees. Binance on the other hand is doing everything including freezing popular coins like Bitcoin and Ethereum to issue their pegged tokens on the Binance chain.
If the ETH developers are just making it happen as soon as possible before this bull run, fees wouldn't be a problem today. But you know what, even if ETH is on its development to 2.0 to solve a lot of things. People today won't think about its attributes with BSC as long as they pay the lowest fee that they can fee and save a lot from it. That's the important matter that's everyone thinking and just ignore the other attributes that you have shown.
Jump to: