Topic: Is Binance Smart Chain the "New Ethereum"? - page 10. (Read 3214 times)

Yes, if this situation continues for a long time, and more and more people switch from ETH to BSC, this will really be a threat to ETH, and the chances of BSC to become the "new ethereum" are getting bigger

I didn't know much about BSC until recently. From what I can see BSC can do everything that ETH can do and it is much faster and cheaper. It might be more centralized but for many things they are doing decentralization is not the most important thing. NFT's don't need any decentralization whatsoever. DeFi on ethereum is already somewhat centralized anyways because most nodes are running on cloud servers. BSC has managed to get so many projects built on their ecosystem in a short amount of time. At the rate it is growing it wouldn't surprise me if they flipped ethereum someday.

But the market cap of Ethereum is still far away from the market cap of BNB. Whether there's BSC for BNB and its own market and exchange which is Binance.
The combination of those won't be par with the market cap of Ethereum. If the growth of BNB continues, there is a possibility that coming from its lower market cap to Ethereum, it could be par with it soon if more projects jump into BSC.

The reasons of it was the high transaction fee for the trade to be executed, if the ETH 2.0 success to solve that problem, ofcourse people will use Dex more frequently and its a good sign for ETH ecosystem.

BNB is third ranking on CMC based on circulating marketcap, so that mean is possible to overtake Ethereum. Price action of BNB similar like ETH on 2016 that rally multipled times in just for a few month. Ecosystem of BNB keep growth, the trading volume and the TVL on Pancake currently is higher than Uniswap, that mean many user prefer BSC than ETH.

Yes, i also see more and more projects migrating from ETH to BSC, exactly speaking, more and more projects are launching new coins on the BSC chain, like bounty project, most of them are using BSC-2 now.This phenomenon is very similar to ETH in 2017. So i think Binance Smart Chain is the "New Ethereum".

How will it be Binance Smart Chain to be a new Ethereum? Binance Smart Chain just an alternative for Ethereum in terms of gas fees but BSC is Binance chain and ETH is remain in Ethereum blockchain. They are different different to it's other, don't make a confusion.

I don't expect if BSC becomes the New Ethereum. Let BSC remain BSC with various advantages that may always be optimized by Binance.
If it becomes Ethereum, someday BSC will also experience the thing that Sam Aya is increasing extraordinary transaction costs. Isn't that?  

So far, we know the strength and also weaknesses of each, both the Ethereum platform and also BSC. Every platform will not be perfect, there will be always some weaknesses.

 Ta past, there are also many platforms or coins that were considered to be the New or the Next Etheruem. But until now, there is nothing to be the exact rival of Etheruem.
And about BSC, let's see how CZ and Binance will really make and develop it to the community and crypto world widely.

bnb will still be like that and bnb I don't think will be the new ethereum because anyway they will still be different, binance smart chain will still be binance smart chain and ethereum will still be ethereum. will not be able to be equated with each other because of the system is also very different, but for the price I'm sure it will follow towards eth but of course eth will also leap far could be towards a new eth and that will definitely be more beautiful. Just wait

yes Binance smart chain in my opinion is indeed a new ethereum in 2021, in 2017 many projects were born on the ethereum platform,
 and in 2021 they all turned into the year of Binance, yeah many big projects were born in binance,
this is why I made sure that Binance Smart chain will be a new solution for the crypto world

Yes my friend, Binance coin has great fundamentals. It jumped from 30$- 300$ in a month and again 300$-600$ in 20 days. But as you know that Bitcoin has decreased a lot so all the altcoins with BNB has decreased 50%. So I think it's good time to full our bags with BNB. Hope it will be next ethereum soon.

In the strange and bizarre world of crypto, anything can happen. Binance Smart Chain could easily replace Ethereum if the latter doesn't stay ahead of the game. The longer devs take to scale ETH, the faster BNB will be able to catch up with it. People are tired of paying high fees on Ethereum for simple tasks like withdrawing tokens from a decentralized lending platform, or even trading tokens at Uniswap. Binance Smart Chain's ultra-low fees and blazing-fast transaction processing times makes it a much more attractive solution for day-to-day payments than Ethereum. Despite BNB's high degree of centralization, demand has soared like crazy over the past months. If this keeps up, BNB might "flip" ETH into becoming the world's second-largest cryptocurrency by market cap.

Nonetheless, there's healthy competition surrounding the market these days. Various crypto projects are gaining traction as people focus on both "De-Fi" and NFTs. It's not about Ethereum or Binance Chain, but rather all blockchains working together to make our world a better place. As long as the ecosystem remains decentralized, people will be able to escape from the current monetary system controlled by central banks and governments alike. It seems to me that ETH and BNB will co-exist for a very long time. Just my thoughts

  Binance Smart Chain is not Ethereum and Ethereum is not Binance Smart Chain. Why should BSC be the new Ethereum? They are completely different projects with completely different characteristics. The whole validator infrastructure is completely different for both projects. Why compare them to each other? What exactly is your point? 

I hope so, eth gave me frustration specially in gas fees, I have lots of eth base token that I have not able to transfer because it cause me lots of dollar, in your point of view if eth is willing to solve that problem they must do it early, how many years now has been pass but still that old problem still a problem. BSC network for me is not a short term solution, IT IS A SOLUTION weather we like it or not.

The both chains cannot be compared as Ethereum smart chain is far more superior than the binance smart chain in terms of decentralization and security.
Also people are more interest in bsc project these days because binance smart chain offer very low fees as compare to the ethereum smart chain. Soon Eth 2.0 will be released and it will address the fee problem for ethereum.

If Ethereum is always next into Bitcoin, in this case Binance Smart Chain will become next into Ethereum, and as I saw with the performance of
BSC it grows continuously in the market were most of the new projects arise now in this field of business whether legit or not they adopted the concept platform of BSC. But I am pretty sure also once the transaction become flooded of course it will also be like ETH where the transaction fee possible to increase as well.

For I could say yes. Because Binance Smart Chain do what Ethereum can do although not all aspects. BSC is affordable in gas transaction at the same time fast and safe. While Ethereum is not friendly gas fee as of now. Because if gas fee, many users and tokens migrated to BSC. Good opportunity for BSC to gain more attraction and might be the next Ethereum.

I think Binance coin (bnb) became popular this year, due to the high gas fee  needed to make a transfer /transaction on etherum, cause before now everyone made use of Eth, but Binance Smart Chain has managed to steal all the attention from Ethereum and now it's the new founding background for thousands of projects, binance will go big but maybe not as much as people think it would. That's because ETH 2.0 upgrade would be coming very soon which is posed to solve most of the current issues.

Maybe not new ETH but alternative beside ETH that can be used by projects which is want to use less fee. My amateur sight maybe only see BSC use less fees than ETH for now. But maybe there are a lot of things that i not discovered yet. There is no need to replace one to another and why not just make it alternative which we still support both and people free to use which one that they want to use.

It has great potential to replace Ethereum. Actually there are some other similar project that has the chance too. I watching those project and their cryptocurrencies price rise significantly during bullish market. I see some great project using their service. But I think Ethereum is good too, there is nothing to worry about investing in Ethereum, what we need to do is diversify our investment.