Give reasons why ETH is better than BSC - page 15.

bittraffic

hero member

Activity: 3038

Merit: 617

Quote from: Evgenklm on April 17, 2021, 06:00:34 AM

and you did not think that after the update, it is possible that ETH will go down the path of centralization, which of course I hardly believe, but it is still possible, so there should always be an alternative, as in principle there is a BSC network.

It's centralized to some degree but I don't think it will affect how good ETH is than BSC not just by looking at its prices but ETH has a bigger network than BSC. Just look at how many projects are using the Ethereum network than BSC. BSC is also centralized, it is owned by Binance.

But who knows what could happen in the future since DOT, ADA and NEAR are developing a platform that claimed to be better than ETH.

Evgenklm

member

Activity: 896

Merit: 17

and you did not think that after the update, it is possible that ETH will go down the path of centralization, which of course I hardly believe, but it is still possible, so there should always be an alternative, as in principle there is a BSC network.

Psynthax

hero member

Activity: 2366

Merit: 504

truly decentralized the validator is not controlled by only very few people, anyone could run their own nodes and bsc is basically extended from ethereum's blockchain so why not choose the real thing?
Most of people also prefer BSC because they are trying to find alternative that enables them to send money and because it's created by binance but once ethereum problems has all been sorted out in the upcoming months i'm pretty sure it will get people back and
if you think that Ethereum is dying you're gravely mistaken, most of new projects still prefer ethereum blockchain, if not for the gas problems and miners opposing against EIP1559, ethereum would've reached another height of ATH or even bigger market capitalization.

senyorito123

hero member

Activity: 1764

Merit: 505

20BET - Premium Casino & Sportsbook

Quote from: uneng on April 16, 2021, 11:00:10 PM

Ethereum is decentralized, while BSC is centralized. That is the main ETH advantage over Binance Smart Contract in my opinion. Some will say BSC is better because the fees aren't that high, but I say that if ETH gas is so expensive right now it's just a sign it is incredibly demanded by crypto community. Every demanded coins have expensive fees, and if there is high demand for currencies like Ethereum on long run there is a good reason for that.
BSC has a lot of potential, but ETH is here for much more time and has already gathered the trust of many, building an enviable reputation.

Both are good and useful, the difference is that the fees. BSC have a low low fees while Ethereum have high fees. It simply tells us that it is in demand and many people uses and trust it. Having problem or issue is just normal happenings most especially if it is crowded or many transactions happened. I guess there is no perfect system because it always needs to be updated and well maintained.

youdacapt

sr. member

Activity: 1876

Merit: 295

GOD is TRUE

Quote from: FloridaKid on April 16, 2021, 08:12:21 AM

I believe that ETH will reclaim it's glory back once gas fee issue is solved, there is also a big difference between BSC and ETH that will still make many prefers ETH, that's the fact that BSC is Centralized and ETH isn't.

I am not sure why so many people feel that etherum has lost its glory or it is no longer relevant; but this is false, the media reports so many ills about etherum which is wrong; etherum blockchain remains the biggest blockchain amongst altcoins; with its wide range smart contract that is still being adopted today. Also, there is no difference between Binance smart chain and the etherum blockchain; when binance smart chain commands users just like etherum; it will experience same clogging and high transaction fees. Lets enjoy the beauty of switching between bsc and erc20 chain conveniently. Its a bigger world in crypto currency today.

amishmanish

legendary

Activity: 1904

Merit: 1159

Ethereum is decentralized and all, but only for the time being. With ETH2.0, It'll be a PoS coin, which BSC already is. There goes the decentralization benefit that ETH has over BSC.

The one major advantage that ETH has is the ecosystem of developers around Ethereum. Yet, it is not alone in that race anymore. There are several projects which are willing to incentivize developers to work with them. This is a typical free market now. Over the years, anybody who has used Eth can check and find how much they paid for gas fees on etherscan. You'd be surprised to know that it may well be more than you ever earned back from all those trades and staking etc.

Those crazy fees really don't mean a thing, being as they are higher than even BTC transactions for the last several months. There are too many people who have suffered due to this. BSC is backed by Binance and CZ knows that there are enough disgruntled users/ developers who only need little nudges to come over to their own compatible chain. I would say that if Binance doesn't go up in flames with this overheated market and ensuing regulatory oversight, we will see incentivization for developers and users on BSC. Ethereum will pretty much be a relic by then.

Lantind

sr. member

Activity: 2324

Merit: 263

Quote from: Cornia on April 16, 2021, 12:58:12 PM

I think the only reason for the popularity of BSC is its low gas fee. If Ethereum's gas fee decreases, it will return to its previous position. Then everyone will leave BSC and run towards ETH. Because ETH is a coin trusted for many years.

Can you tell where your previous position is and who will be in the previous position? because Binance is also a token that has been trusted by some people in the crypto space for a very long time even though at the moment almost everyone believes it because of the sharp price spikes, but in general if Ethereum experiences a reduction in Gas costs, BSC will stay alive and Binance will remain in a position currently, because of the increasing mainnet in the crypto space is a very good thing even though they are all invisible competing against one another.

Sithara007

legendary

Activity: 3346

Merit: 1352

Leading Crypto Sports Betting & Casino Platform

IMO, the only advantages that ETH has over BSC is that the former has more adoption, due to being the first in the market. Ethereum was the first smart contract platform and this fact helped it to gain the market leader position from a very early date. There are dozens of technologically better alternatives available and one of them is BSC. But the users are reluctant to move from ETH chain to BSC. But once some big projects make the transition, BSC will quickly overtake ETH chain.

uneng

hero member

Activity: 2044

Merit: 784

Leading Crypto Sports Betting & Casino Platform

Ethereum is decentralized, while BSC is centralized. That is the main ETH advantage over Binance Smart Contract in my opinion. Some will say BSC is better because the fees aren't that high, but I say that if ETH gas is so expensive right now it's just a sign it is incredibly demanded by crypto community. Every demanded coins have expensive fees, and if there is high demand for currencies like Ethereum on long run there is a good reason for that.
BSC has a lot of potential, but ETH is here for much more time and has already gathered the trust of many, building an enviable reputation.

Lizzylove1

member

Activity: 858

Merit: 13

Christ The King

Ethereum no doubt has the first mover advantage of smartcontract technology, but as it stands, ethereum now appears been built for the rich. Paying $100 gas fee or more to execute a trade is not joke. That money could have been used to placing a trade. On the 15th was Berlin hardfork, but we are yet to see any impact on the network. ETH developers didn't envision that a day like this come. ETH has had this problem for long while trading on Folkdelta, orders would take long to clear after been execuuted.

X-ray

hero member

Activity: 3094

Merit: 537

Leading Crypto Sports Betting & Casino Platform

Quote from: Looper_U on April 16, 2021, 10:44:53 AM

Quote from: X-ray on April 16, 2021, 08:28:28 AM

Quote from: FloridaKid on April 16, 2021, 08:12:21 AM

I believe that ETH will reclaim it's glory back once gas fee issue is solved, there is also a big difference between BSC and ETH that will still make many prefers ETH, that's the fact that BSC is Centralized and ETH isn't.

I hope so but im not yet seeing any impact caused by berlin update that already executed recently. The decentralization of ethereum is good but at the same time this makes ethereum a bit difficult to implement the solution to fix the scalability problem.
I think that there's another reason just like ethereum is quite simple to be used to build dapps but binance is also adopting the mechanism that used by ethereum.
Both were almost the same platform at this moment. The only thing that makes both different were decentralization.

Of cos I don't expect any impart from Berlin update as it's just the road to london fork which is the real thing here, beeping update isn't responsible for lowering eth gas fee, it's just the key to making london fork a possibility

Okay, im quite understand about that and it will probably implement the requirement to execute the update.
I hope that ethereum 1.5 will be going so well. Fees is anything these days. This will make people come back again to use ethereum rather than BSC. We will face more hardfork soon.

Jackl87

sr. member

Activity: 1722

Merit: 269

Quote from: FloridaKid on April 16, 2021, 08:12:21 AM

I believe that ETH will reclaim it's glory back once gas fee issue is solved, there is also a big difference between BSC and ETH that will still make many prefers ETH, that's the fact that BSC is Centralized and ETH isn't.

I also think and i definitely hope that ETH will always have an advantage over BSC both in terms of adoption and also in terms of market cap/price. Everyone has to admit that at the moment BSC is more user friendly due to almost instant transactions with low gas fees, but we have to remember ourselfs that Bitcoin and therefore cryptocurrencies as a whole were once invented to be independent from big centralized bank institutes and governments. And Binance is exactly that.....centralized.

poldanmig

sr. member

Activity: 1372

Merit: 275

-Transaction
-Currently BSC Hype
-BNB Has Centralized trading Exchange and also DEX trading

The main thing for sure is the much lower transaction fees compared to Ethereum. Currently, transactions for trading costs are cheaper and even have a fairly high difference compared to Ethereum.
In addition, the number of transactions that are increasing every day can be used as an indicator that there is a lot of interest from the market.

Muslimin mj

member

Activity: 569

Merit: 18

Goldeth.io

Quote from: FloridaKid on April 16, 2021, 08:12:21 AM

I believe that ETH will reclaim it's glory back once gas fee issue is solved, there is also a big difference between BSC and ETH that will still make many prefers ETH, that's the fact that BSC is Centralized and ETH isn't.

Ethereum is an altcoin that still survives in the trading market and eth is still used by the public because the ethereum (erc20) platform has been widely used by new altcoins even though eth is currently experiencing high transaction problems. but I think ethereum will be back to normal. and today BSC is present which is able to provide solutions to the problems experienced by ethereum. so today's BSC looks better than ethereum. but basically I still think ethereum is the best.

izsara

member

Activity: 924

Merit: 15

in fact maybe ETH is more compatible and if we look from the other side in fact BSC only follows what has been done by ETH but with a version that is more accessible by smaller traders, because we all know that FEE from ETH is a barrier for all people especially for small to medium traders.
and one of the options is we switch to a more friendly BSC with its fee price.
but for now there is a new breakthrough for ETH 2.0 which means they will work even harder in raising their prestige so that more people are glancing at ETH.

Nightz

hero member

Activity: 1302

Merit: 504

Quote from: Cornia on April 16, 2021, 12:58:12 PM

Quote from: FloridaKid on April 16, 2021, 08:12:21 AM

I believe that ETH will reclaim it's glory back once gas fee issue is solved, there is also a big difference between BSC and ETH that will still make many prefers ETH, that's the fact that BSC is Centralized and ETH isn't.

I think the only reason for the popularity of BSC is its low gas fee. If Ethereum's gas fee decreases, it will return to its previous position. Then everyone will leave BSC and run towards ETH. Because ETH is a coin trusted for many years.

There is space for both of them and it depends on the use cases they want to serve. Look at Bitcoin. Will it ever become a currency? Probably not because it is too volatile, but it can nevertheless be a store of value if at least the volatility decreases to a minimum. And still Bitcoin owns.

These protocols are highly agile and I am curious to see where Ethereum is in 5 years from now.

I think there is a lot to come.

GrosWesh

legendary

Activity: 2450

Merit: 1448

"Give reasons why ETH is better than BSC"

Answer stands in your own question buddy Roll Eyes

Eth is way more decentralized and tons of projects are built on it.

As you wrote, once fees issues will be cleared it will expand more and more. Ethereum ecosystem is now to big to fail, imo.

Beside of that, new ecosystem have room to grow Wink

(bsc, polkadot, avalanche and few others).

Cornia

full member

Activity: 1526

Merit: 110

Quote from: FloridaKid on April 16, 2021, 08:12:21 AM

I believe that ETH will reclaim it's glory back once gas fee issue is solved, there is also a big difference between BSC and ETH that will still make many prefers ETH, that's the fact that BSC is Centralized and ETH isn't.

I think the only reason for the popularity of BSC is its low gas fee. If Ethereum's gas fee decreases, it will return to its previous position. Then everyone will leave BSC and run towards ETH. Because ETH is a coin trusted for many years.

Yogee

sr. member

Activity: 1554

Merit: 413

Quote from: mamesso on April 16, 2021, 12:28:39 PM

...Ethereum parties must immediately solve the problem they are facing in the near future, maybe Eth 2.0 will be the answer to solve the fee problem.

Do you even know when Eth 2.0 will launch? Nobody knows exactly when so it's not the "immediate solution". Berlin hardfork went live yesterday and the improvements there includes fixing the gas. The next upgrade will be the London hardfork which is expected to go live on July. The controversial EIP1559 will be activated on that day.

Quote

But if the adoption (BSC) is growing compared to (ETH), it could be that ETH will get a serious threat from the BSC.

It's already a threat to Ethereum that's why they are trying to fix the gas issue as soon as possible.

Review Master

sr. member

Activity: 1456

Merit: 280

BitByte Crypto: https://link3.to/bitbytecrypto

Quote from: FloridaKid on April 16, 2021, 08:12:21 AM

I believe that ETH will reclaim it's glory back once gas fee issue is solved, there is also a big difference between BSC and ETH that will still make many prefers ETH, that's the fact that BSC is Centralized and ETH isn't.

Indeed, every project will come into this market to be claimed as the better version of Ethereum. But those won't be able to do so and ethereum will be in its position though it might get some problems which is just temporary. BTW, other projects could become a rival of etherem by doing extra innovative development along with smart contracts, IMHO.

Quote from: ryzaadit on April 16, 2021, 10:21:44 AM

I have some thread or tweet on twitter there has some issue on PancakeSwap, BSC transaction reached 1 million block delayed on PancakeSwap.

It's actually with the tracking/info site which is pancakeswap.info where we can get information like liqudity/price history of an asset which is traded/swapped on pancakeswap exchange. BTW, it can be synced if any developer take a into that and Hayden Adams, Founder of Uniswap, troll for it. Check it here: https://mobile.twitter.com/haydenzadams/status/1381962450707181569

Topic: Give reasons why ETH is better than BSC - page 15. (Read 3405 times)