ETH and BSC - page 29. | Bitcointalksearch.org

tippytoes

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Quote from: martina14 on April 11, 2021, 07:05:07 PM

Quote from: Gorosden on April 03, 2021, 11:34:39 AM

One of the reasons why binance smart chain becomes this big right now is because ethereum gas fee is very high and this force some projects to switch to BSC but what do you think will happen once ethereum gas fee goes lower in near few months? Will BSC faced same fate as binance DEX? Or BSC will remain the better option over ethereum?

I remembered when I made a transaction this a couple of days past on ETH the fee was absolute expensive it was around 24$ if I am not mistaken. While Bsc is too cheap in terms of it transaction fee and very fast well, no wonder why most of the new project choose to use Bsc playform rather than ETH or Erc20.

Tried also withdrawing eth via BSC and I can say, Binance is just right to get in and take advantage of this opportunity while ETH has still gas issues. Once these users get acquainted more with BSC network, I believe, most of them will stay, as long as the fees are economical. This will be a good introduction to so many users here that were used to ETH. Fast and cheap, those are their selling points right now of BSC network. And aside from that, Binance is a reputable platform, so it is not hard to trust them with our crypto transactions.

martina14

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Quote from: Gorosden on April 03, 2021, 11:34:39 AM

One of the reasons why binance smart chain becomes this big right now is because ethereum gas fee is very high and this force some projects to switch to BSC but what do you think will happen once ethereum gas fee goes lower in near few months? Will BSC faced same fate as binance DEX? Or BSC will remain the better option over ethereum?

I remembered when I made a transaction this a couple of days past on ETH the fee was absolute expensive it was around 24$ if I am not mistaken. While Bsc is too cheap in terms of it transaction fee and very fast well, no wonder why most of the new project choose to use Bsc playform rather than ETH or Erc20.

Cappex

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Ethereum will come back stronger than before with the transition to proof of stake and Bianance could end its hype but until this happens BNB is the only viable solution.

Dewi Aries

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Quote from: Gorosden on April 03, 2021, 11:34:39 AM

One of the reasons why binance smart chain becomes this big right now is because ethereum gas fee is very high and this force some projects to switch to BSC but what do you think will happen once ethereum gas fee goes lower in near few months? Will BSC faced same fate as binance DEX? Or BSC will remain the better option over ethereum?

Since i see some people said that ETH fee will goes lower in future, that means it is a good thing. So people can choose which coin that they want to use in project or maybe that they will use it as fee. I mean, more options especially more good options not means it must be replacing each other right? So if developer want to use BSC, they can use it, or maybe if they want to use ERC20 network it is their choice.

molsewid

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Quote from: Princeofpoetry on April 11, 2021, 12:08:59 PM

To be honest I still support eth, because eth has a lot of validators and decentralization while bsc is under the auspices of binance with few validators. if gas prices are low then eth's popularity will increase, bsc is indeed the choice for now but I think eth is still the best now and then.

Of course many new projects are wanting to use ERC as their project blockchain than Binance Smart Chain but what was good about Binance Smart Chain was its affordability to the new rising projects. What I mean was ERC was too costly to afford especially for a new rising project which is starting to establish their project. Howevere, even in the high gas fee of ERC i bet every new projects are wanting to have ERC and BSC blockchain at the same time.

Princeofpoetry

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To be honest I still support eth, because eth has a lot of validators and decentralization while bsc is under the auspices of binance with few validators. if gas prices are low then eth's popularity will increase, bsc is indeed the choice for now but I think eth is still the best now and then.

tatalin

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People just want to transfer their coins as much as low fees. Since BSC are now much cheaper than ETH gas fee, then we all know what would happen to Ethereum in the near future if they didn't adjust their gas fees in transferring money. They already have a competitor so better yet make a good deal when it comes to transferring fees.

DU18

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Binance Smart Chain Benefit :

Cheap Transactions
Strong community
Cz As Pioneers

Actually, the difference with Ethereum lies in the transaction fees which are the main point of current users. the reason they are attracted to the Binance Smart Chain is Low Cost. but on the other hand there are currently so many projects on the Binance Smart Chain Network

Since its inception, BSC has been heavily leaning towards the DeFi application and has continued to strive to compete directly with the existing Ethereum ecosystem, but in this case BSC dares to offer something different and takes advantage of the existing weaknesses of ethereum, thus offering lower costs for its users and in the competition for business is certainly a strategy that seems to be working well to benefit binance itself
Today several BSC applications have shown tremendous growth and made Ethereum appear completely helpless

RussianEnglishTranslation

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Quote from: Gorosden on April 03, 2021, 11:34:39 AM

One of the reasons why binance smart chain becomes this big right now is because ethereum gas fee is very high and this force some projects to switch to BSC but what do you think will happen once ethereum gas fee goes lower in near few months? Will BSC faced same fate as binance DEX? Or BSC will remain the better option over ethereum?

That's a really good question but I don't think anyone can predict the right answer. Either way, if you hold tokens that are bridged on both chains, like 0xMR or LINK, then you shouldn't have any problems either way.

kenelmark

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Quote from: zulfi125 on April 10, 2021, 12:40:04 PM

Everyone is worry about the ETH fas fees due to high gas fees every one going to the BSC chain, and in the future, if ETH gas fees will low then BSC chain, we can say ETH will be better than the BSC chain if fas price will little low then BSC will be better in future.

I myself am confused by what you are saying, because the purpose you are saying is not clear which one is good, because basically the ETH network and the BSC network are both good even though the amount of transaction fees is different, just because now the average person has already complaining about the cost problem on the ETH network, this is what makes everyone now move to the BSC network for cheaper costs.

mdzahed134

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Quote from: Amejoaquim on April 10, 2021, 12:11:01 AM

Fee issue is indeed a big problem for ethereum.

If they don't improve their system, Binance will take the 2nd place very soon.

Let's see how good it gets when ethereum 2.0 comes out.

Very curious about eth 2.0, I think eth 2.0 gonna be LIT.

Indeed, it’s not easy to be in second place because we know that etherum is more popular blockchain platform and it’s belong a big community still now. So i don’t think bnb will take 2nd position in overnight. ETH gas fee has become a big problem for the trader's they unable to pay this unaffordable fee. How long will take to reduce fee we don't know at the moment.

omone1

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We keep hearing of ETH2.0 and this seems is going to be successfully deployed and start usage in 2023, that is damn far is true. ETH would have suffered heavy loss. We are going to have the DOT ecosystem go live maybe this year ending that is another ethereum killer. Although ETH layer2 scaling is trying to help out but while depositing from onchain to layer2, one still spends heavy gas fee. This has forced me to BSC. ETH foundation need to do something about the network.

Rafiqul

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While Ethereum has always been the most popular blockchain, the Binance smart chain has captured a significant amount of market share at the moment due to its high gas fees. Many bounty projects on the Ethereum platform are unable to pay their tokens due to high gas fees. As a result, many projects are now being forced to go to the Binance Smart Chain. If Ethereum's gas fees are not reduced, the growing trend of BSc will continue which may beat Ethereum at some point. On the other hand, if Ethereum's gas fees go down, I think they will return to the market in the future.

ingiltere

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Quote from: akgandalf on April 10, 2021, 01:12:10 PM

The high commissions in ethereum are annoying in the bsc network, and one step ahead of ethereum due to both speed and low commissions. Cz will surely increase their commission fees over time if more jets come to the Bsc network.

That's not true. Yesterday BSC network fees were reduced %50. More people use it but fees are lowered. That protect all users to pay high fees due to BNB price increase. The most expensive swap cost less than 3 dollars in BSC network. There is no competition right now.

akgandalf

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The high commissions in ethereum are annoying in the bsc network, and one step ahead of ethereum due to both speed and low commissions. Cz will surely increase their commission fees over time if more jets come to the Bsc network.

Sihab76

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Currently, most traders have opted for Binance Smart Chain Trading Platform due to Ethereum's high transaction costs. If this trend continues in the distant future, traders will give preference to Binance Coins instead of Etherium.

zulfi125

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Everyone is worry about the ETH fas fees due to high gas fees every one going to the BSC chain, and in the future, if ETH gas fees will low then BSC chain, we can say ETH will be better than the BSC chain if fas price will little low then BSC will be better in future.

Golftech

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Quote from: SistaFista on April 10, 2021, 12:03:40 PM

Quote from: FinneysTrueVision on April 10, 2021, 01:49:04 AM

At this point Binance Smart Chain has gained a significant amount of market share that it will remain relevant for a long time. It still has a long way to overtake ethereum, but they are still continue to develop it and build projects on this blockchain. Ethereum will always be one of the most popular blockchains and if fees go down it will regain some of that market share.

But it is not impossible for Binance Smart Chain to surpassing the Ethereum position few years later.
Just look at the price history of BNB coin, Binance Smart Chain made the coin even more valuable because many BSC validators bought the coin. Not mention that Binance will burn the coin overtime, so the price will growing too. Do you think it is still a long way to overtake Ethereum ? Cool

That's for the future to answer, BSC is doing great and it's really bringing more investors to

invest to BNB coin, while ETH is still standing strong even with a lots of issues due to it's very

huge transaction fees.We don't know what will happened along the way, as both have good performance

in terms of investment assets.

SistaFista

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Quote from: FinneysTrueVision on April 10, 2021, 01:49:04 AM

At this point Binance Smart Chain has gained a significant amount of market share that it will remain relevant for a long time. It still has a long way to overtake ethereum, but they are still continue to develop it and build projects on this blockchain. Ethereum will always be one of the most popular blockchains and if fees go down it will regain some of that market share.

But it is not impossible for Binance Smart Chain to surpassing the Ethereum position few years later.
Just look at the price history of BNB coin, Binance Smart Chain made the coin even more valuable because many BSC validators bought the coin. Not mention that Binance will burn the coin overtime, so the price will growing too. Do you think it is still a long way to overtake Ethereum ? Cool

kenelmark

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Quote from: Amejoaquim on April 10, 2021, 12:11:01 AM

Fee issue is indeed a big problem for ethereum.

If they don't improve their system, Binance will take the 2nd place very soon.

Let's see how good it gets when ethereum 2.0 comes out.

Very curious about eth 2.0, I think eth 2.0 gonna be LIT.

Yes, Binance could be in second place in the cryptocurrency ranking, but this is not going to happen anytime soon, because even though Ethereum is having issues with transaction fees on its own network, Ethereum is still very strong at the moment, so it needs more support for the token BNB in displacing Ethereum from second on the ranking.

Topic: ETH and BSC - page 29. (Read 6988 times)