ETH and BSC - page 9. | Bitcointalksearch.org

brooksby

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Quote from: Ureung jameun on August 22, 2021, 04:19:48 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?

in my opinion bsc will not be like binance dex and bsc will continue to be used by crypto users in the future even though eth transaction fees have recovered. unless bsc transaction fees are higher than eth then a lot of people will switch to eth because everyone will look for the lowest transaction fees.

ETH transaction fees have recovered? I know where we are coming from, but Ethereum fees are what a 100 times higher than those of Binance? Binance Smart Chain is gaining so much traction because it doesn't exclude smaller users. Because of that they have more liquidity on the BSC chain and more potential traders. Pancakeswap works perfectly fine and is cheap and literally all new projects are launched on that chain.

BayAngelo

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Some one replied with how and when Op thinks ethereum price will drop low to few cents as before"? the answer is No way. ethereum should provide a means to reduce fees in their plarform. even if 20 percent of ethereum get burnt. it will still not drop gas fees. smart contract transactions on ethereum platform increased in an astronomical way. it is bigger thatn transactions in the bitcoin network.

Ureung jameun

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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?

in my opinion bsc will not be like binance dex and bsc will continue to be used by crypto users in the future even though eth transaction fees have recovered. unless bsc transaction fees are higher than eth then a lot of people will switch to eth because everyone will look for the lowest transaction fees.

Lantind

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Quote from: vermigerous on August 19, 2021, 03:11:41 AM

I think you shouldn't trust right away anyone who says that your wallet was hacked since you are the only one who knows your secret private keys and passwords of your account. But if you lose your device containing your wallet and that person knows how to manipulate your account that was already logged on your device, it is possible that your assets in your wallet could be hacked.

That means there are only two possibilities in that case, firstly, the person who finds the device can open the wallet on the device, and the second is hacked through the internet system by someone else because the owner of the device is not the same person anymore.

vermigerous

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I think you shouldn't trust right away anyone who says that your wallet was hacked since you are the only one who knows your secret private keys and passwords of your account. But if you lose your device containing your wallet and that person knows how to manipulate your account that was already logged on your device, it is possible that your assets in your wallet could be hacked.

efxtrader

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Quote from: bL4nkcode on August 16, 2021, 12:41:14 PM

Quote from: ?? on ??

Why do you think it will never possible? ETH is the big blockchain still now But you know BSC also very strong platform and we know that how much it’s trustworthy in the market. In BSC huge number of users and also many platforms are migrated from ERC, If it will happen continuously BSC definitely will beat ETH. Most likely we will see something like that in the future.

Agreed, if ETH 2.0 still cannot solve the higher fees soon as it will be available then, probably more and more projects with ETH blockchain (Erc20 token projects and etc.) will migrate to BSC or to other better blockchains due to higher tx fees, and it's proven why projects are mainly migrating to BSC.

Besides transaction fees, in my opinion, what makes transactions on the BSC blockchain continue to increase is DeFi. With the BSC network, DeFi is becoming easier and cheaper especially now that DeFi is an alternative for investors who want to get passive income

Psynthax

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Quote from: Wulan_maniez on August 18, 2021, 05:41:38 PM

To date, ethereum could not lower the very high cost of gas on its platform. We've been waiting for a long time to fix ethereum.
But that's how in any business there will be competitors who can provide such solutions, such as the BSC and TRX platforms. Currently,
they are the one solution that can help in dealing with the high case of gas on the ethereum platform. So it's only natural that BSC is
increasingly being used by altcoin projects. And I also don't know, whether ethereum can make gas as cheap as BSC or TRX provides.

I don't think the gas ethereum needed will be cheap anytime soon. Even if the gas needed for ethereum is only 10 gwei it's still quite expensive compared to other like BSC if the price of ETH is high. Maybe ETH will be cheap when the gas required only cost 1 gwei or below that but that's also not possible. Only way to make ETH gas price cheap is when ETH price is not too high maybe half of the current price then the gas price can be considered cheap even that is not cheap enough compared to other like BSC.

Insomnia family

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yes, gas costs on the ethereum network are very expensive. and this is the main reason why many traders prefer to switch to the BinanceSmartchain network. I personally don't currently use a DEX platform that uses the Ethereum blockchain like Uniswap because of the high fees. and at the same time Polygon, solana, cardano offer low transaction fees and this blockchain chain is a tough competitor to Ethereum.

Iranus

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If you looking for which one is best for investment, then you can pick Ethereum without thinking twice. Ethereum is the second most profitable coin after Bitcoin. Its real-life utility is more than any other altcoin, so it can be good choice for making investment.
If you want to know about smart contract then ethereum is the oldest one and coin launching under ERC-20 smart contract are more stable and stronger than binance smart chain. I always prefer ERC-20 than BSC.

Wulan_maniez

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To date, ethereum could not lower the very high cost of gas on its platform. We've been waiting for a long time to fix ethereum.
But that's how in any business there will be competitors who can provide such solutions, such as the BSC and TRX platforms. Currently,
they are the one solution that can help in dealing with the high case of gas on the ethereum platform. So it's only natural that BSC is
increasingly being used by altcoin projects. And I also don't know, whether ethereum can make gas as cheap as BSC or TRX provides.

milewilda

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Quote from: bL4nkcode on August 16, 2021, 12:41:14 PM

Quote from: ?? on ??

Why do you think it will never possible? ETH is the big blockchain still now But you know BSC also very strong platform and we know that how much it’s trustworthy in the market. In BSC huge number of users and also many platforms are migrated from ERC, If it will happen continuously BSC definitely will beat ETH. Most likely we will see something like that in the future.

Agreed, if ETH 2.0 still cannot solve the higher fees soon as it will be available then, probably more and more projects with ETH blockchain (Erc20 token projects and etc.) will migrate to BSC or to other better blockchains due to higher tx fees, and it's proven why projects are mainly migrating to BSC.

Yes and lets put up some example into that https://paidnetwork.medium.com/paid-network-is-now-live-on-bsc-convert-your-paid-erc20-into-bep20-1658cdee98d2

Recent London fork didnt really give out much impact towards that gas problem and it turns out that nothing do happens after such event but somehow its really just too early
to say about that manner because effects couldnt really be seen on a month time or several days but rather going for long term.When it comes to utility then we cant deny
that erc20 is remarkable specially into its smart contracts feature but we cant just ignore on how BSC is been doing.

nicolas1979

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Quote from: andriarto on August 12, 2021, 10:16:41 PM

Quote from: nicolas1979 on August 12, 2021, 05:06:50 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?

Binance Smart Chain is superior to Binance DEX, even though they are both from the same source, namely Binance. I see the presence of BSC exactly the same as the ethereum blockchain. Even though Ethereum transaction fees are back to normal, BSC users are still running smoothly. Currently, many tokens have been developed with Binance smart contracts. Even some of the coins are already in the BSC version. If you want to withdraw XRP, then you can choose the XRP of BEP20 version.

it can be seen that currently many are using the binance smart chain, because currently there are many new projects based on defi and nft games, so it feels like bsc is more suitable for use with the advantages of speed and transfer costs. therefore even though the eth network is back to normal, bsc is still widely used

I think Ethereum and BSC are no longer talking about competition, but more about collaboration between Ethereum and Binance. Of course the two coins will run normally, and each smart contract has loyal investors who keep the Ethereum and BSC smart contracts active. We can compare from each project that is currently running. Every project still uses these two smart contracts.

DarkDays

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Quote from: Ever-young on August 16, 2021, 07:58:38 AM

The possibility of ETH fee reducing is very small, the Bsc is not just dominating or becoming the best now because of transaction fee, Tron fee currently is lower than that of Bsc. What I think is backing bsc up is it's great potential and future giving room for new projects to excel.

Yh, I too get the impression that it's not to do with the lower fees because indeed there are other competitors with similar transaction fees and yet they don't get the attention that BSC gets. BSC is popular because it backs up newly launch projects and because many launchpads use it as the immediate exchange.

lenovop-70

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Quote from: Rigon on August 06, 2021, 06:44:12 PM

The Ethereum platform and the Binance Smart Chain platform are very popular on these two platforms.But now the BSC platform is becoming a little more popular. I can see that the tokens of BSC platform can be transferred with very low network fee. But on the Ethereum platform Even though its network fee is high, it is still very good in terms of popularity and quality. But to me Ethereum is the best platform.

I am agree with your opinion that Ethereum still the best platform, but i can not resist the BSC was doing well too, BSC perfected the system from Ethereum which sometimes the transaction fees are too high. I hope the latest update from Ethereum platform, can reduce the transaction fees that sometimes soar.

Gbniman

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The utility of Ethereum is unrivalled for the most part, outside of direct payments, the Ethereum ecosystem offers a range of utilities. As we mentioned before, ETH supports a variety of DApps, nearly 3000 in fact, as well as supporting gambling and financial systems.

While BNB is divided, offering two main utilities. It provides a centralized finance (CeFi) system, which is it’s central platform, the Binance cryptocurrency exchange. As well as that, BNB has a decentralized finance (DeFi) utility, offering the native token of Binance Smart Chain.
And meanwhile When it comes to decentralized finance, there's a large amount of DApp cross-over between BSC and Ethereum due to the blockchains' compatibility. .
As fees are so cheap on BSC and transactions significantly quicker, yield farms tend to be more efficient on Binance Smart Chain.

Rb48

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Ethereum Platform and Binance Smart Chain Platform These two platforms are very popular with people. We all know that Ethereum platform has been very popular with people for a long time.However, due to the substantial increase in the transaction gas fee of the Etherium platform, people do not like this Ethereum platform much now.The Binance Smart Chain platform has been around for some time and has become very popular in a very short period of time due to the very low transaction fees.If the current and subsequent Ethereum platform gas fees are not reduced, people will be more likely to be on the Binance smart chain platform.Most transactions will start and go much further.

bL4nkcode

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Quote from: ?? on ??

Why do you think it will never possible? ETH is the big blockchain still now But you know BSC also very strong platform and we know that how much it’s trustworthy in the market. In BSC huge number of users and also many platforms are migrated from ERC, If it will happen continuously BSC definitely will beat ETH. Most likely we will see something like that in the future.

Agreed, if ETH 2.0 still cannot solve the higher fees soon as it will be available then, probably more and more projects with ETH blockchain (Erc20 token projects and etc.) will migrate to BSC or to other better blockchains due to higher tx fees, and it's proven why projects are mainly migrating to BSC.

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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?

If that's the only reason then Ethereum should just fixing it, paying $50-$100 for one transaction isn't funny at all, it's needs to be fixed urgently but I'm still in shock on why the ETH 2.0 upgrade hasn't rolled out yet the gas fee is killing the ETH network badly, aside gas fees issue, the tps on BSC is way higher than Eth's, I don't know much about Binance DEX cuz it doesn't seem like a popular DEX, but I doubt if bsc will suffer the same fate as their Binance DEX.

Golftech

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Quote from: Ever-young on August 16, 2021, 07:58:38 AM

The possibility of ETH fee reducing is very small, the Bsc is not just dominating or becoming the best now because of transaction fee, Tron fee currently is lower than that of Bsc. What I think is backing bsc up is it's great potential and future giving room for new projects to excel.

The chance is still possible but for now ETH is mre focus with other things than reducing fees,

the competitions inside alts market are high not only TRX but there are other coins who also

offer small transaction fees, BNB is being supported since there are project under BSC and like

ETH they are really doing great with it.

ardydyon

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BSC has indeed become very strict for ETH, by offering gas costs that are much cheaper than ETH
create many new tokens residing in the BSC network.
right now the new developers must really care about the low cost to be able to market their coins
maximally. Apart from offering low fees, Binance currently has
big exchanges have lots of coins in their market.
they also have new features that other exchanges don't have such as the staking feature
and much more. I don't think if eth lowers gas costs they won't have much effect on binance
this will only increase the choice for crypto users.
If only the cause is influenced by the price, I don't think so because they really are
have good quality and clear project. let's see tron TRX they have a much cheaper cost than bnb and eth
but very few projects join them. it's probably because
there is something that is considered less attractive. but tron will surely be a tough competitor for bnb and eth if all their projects work and develop well.

Topic: ETH and BSC - page 9. (Read 7007 times)