Topic: Is Binance Smart Chain the "New Ethereum"? - page 11. (Read 3214 times)
This will never be the case. Simply because clones never passed the original. The only thing Binance is thriving because its gas price alternatively low compare to Ethereum . That is it. Same goes to HECO as they use Solidity to make smart contracts.
It looks like that Binance Smart Chain had catered lots of attention and popularity. Many project is shifting to its chain because of the cheaper transaction fee with the almost the same function. Even though I cannot consider Binance Smart Chain as the new Ethereum, I can see it to compete toe to toe with ETH in the future.
High fees is what's "killing" Ethereum these days. Developers better roll new network upgrades to address this issue as soon as possible before an alternative smart contract platform replaces Ethereum. Binance Coin is now the third-largest cryptocurrency by market cap, so it has a higher probability of "flippening" Ethereum than any other coin on the market. Everything will depend on mainstream adoption above anything else. The longer it takes for ETH to scale, the higher BNB will rise to glory.
Of course, Binance Smart Chain is not as decentralized as Ethereum is. This should give ETH a slight advantage over BNB, as it attracts people seeking true financial sovereignty and censorship-resistance. High fees and slow transaction processing times hasn't stopped developers from building dApps on the ETH blockchain. The world's second-largest cryptocurrency by market cap (ETH) still has the largest ecosystem of dApps, tokens, and services around it. Binance Smart Chain may have risen in popularity lately, but it's still far behind Ethereum in mainstream adoption. If it stays that way, it may never become the "New Ethereum". Regardless of what happens in the future, I don't think neither BNB nor ETH will disappear from the face of the Earth. They're a "force to reckon with" backed by companies, businesses, developers, and individuals alike. BNB has Binance at its side, while ETH has Vitalik and the crypto community backing it every step of the way. What matters is the real use cases a blockchain platform is able to provide to the mainstream world. As long as both coins are useful, nothing else matters. Just my opinion
Binance Smart Chain will remain a Binance Smart Chain and not become a "new ethereum" because he was made as an alternative when many people felt heavy to receive increasingly ridiculous costs on the network of ETH, all the entities were clearly different in my opinion.
BSC could be potentially as a competiton or replacement for ethereum. I do agree to call that as a new ethereum will not be correct but all of the things on BSC is almost the same like ethereum. BSC generated as ethereum fork chain. The main purpose of BSC to replace and fix all of problems that faced by lots of people on ethereum.
Some people were calling it as a replacement for ethereum due to this reason.
Binance Smart Chain will remain a Binance Smart Chain and not become a "new ethereum" because he was made as an alternative when many people felt heavy to receive increasingly ridiculous costs on the network of ETH, all the entities were clearly different in my opinion.
It looks like that Binance Smart Chain had catered lots of attention and popularity. Many project is shifting to its chain because of the cheaper transaction fee with the almost the same function. Even though I cannot consider Binance Smart Chain as the new Ethereum, I can see it to compete toe to toe with ETH in the future.
BSC is a good competitor of ETH. But it is too early to say that it is the "New ETH". Developers as well as traders are going to BSC network because of the economical fees that it is offering. However, once ETH resolved their gas efficiency problem, some will go back to eth network. However, we can't deny the fact that there is advantage of BSC network these days. To avoid paying ridiculous fees, they offer cheap fees for traders. But some are sticking to ETH because of its decentralized nature. This coming July, once ETH implements their EIP 1559, we will see if there will be improvement in their gas efficiency, and let's see what will be the reaction of the crypto community.
It looks like that Binance Smart Chain had catered lots of attention and popularity. Many project is shifting to its chain because of the cheaper transaction fee with the almost the same function. Even though I cannot consider Binance Smart Chain as the new Ethereum, I can see it to compete toe to toe with ETH in the future.
Seriously I'm also confused but I know the binance team is really working hard in there token and the rate of movement is cool. Maybe in future or 2 years from now it can go as high as ethereum or even beat the ethereum price and another good thing about the binance smart chain is that the transaction fee is low and far better than the ethereum mainnet.
Many people see bsc as the future ethereum
Many people see bsc as the future ethereum
But, given the growing popularity of Binance, I believe it is possible. It will take time, but it is possible.
So, if this happens, his system will be as follows: Bitcoin will remain the King of all cryptocurrencies, ETH will follow bitcoin, and Binance will follow ETH.
The only issue is that time is running out; I'm not sure when this will happen, but it will.
So, if this happens, his system will be as follows: Bitcoin will remain the King of all cryptocurrencies, ETH will follow bitcoin, and Binance will follow ETH.
The only issue is that time is running out; I'm not sure when this will happen, but it will.
It was never meant to be the "New Ethereum" but instead it was created to be an alternative for those who gets overburdened with ETH ridiculous fee and in july ETH probably gonna solve the problem regarding fee already.
As of now, I always see BSC as different entity compared to Ethereum seeing the nature of defi and dapps there which is quite different in my opinion compared to ETH and with BSC you won't have the leisure of running as much nodes as you want.
As of now, I always see BSC as different entity compared to Ethereum seeing the nature of defi and dapps there which is quite different in my opinion compared to ETH and with BSC you won't have the leisure of running as much nodes as you want.
In crypto land, money talks. It's all a matter of staying ahead of the game in order to avoid losing mass adoption in the mainstream world. If Ethereum is unable to scale in time, other alternatives might be able to take its place in the future. Binance Smart Chain is the one closest to Ethereum in terms of market cap, increasing the odds of a "flippening" in the near future. Most projects have done the switch from ETH to BSC because of the high fees and slow transaction processing times. Binance has done well in marketing/promoting its own blockchain network, bringing demand to BNB at a fast pace. It's no wonder why Binance Coin sits at around $500 per coin. The longer it takes for Ethereum to solve scalability issues, the better it'll be for Binance Smart Chain and other rivals on the market. People are getting tired of subsequent network upgrade delays within the Ethereum blockchain, as they hunt for other smart contract platforms on the market. If the pace keeps up, BNB might become the "New ETH" in the not-so-distant future.
Nonetheless, no one knows what will happen in the future. As I've said many times, crypto behaves in strange and bizarre ways. Despite Ethereum's high fees and slow transaction processing times, it's still the #1 platform for "De-Fi". The majority of developers, companies, and startups support Ethereum right now, so I don't see Binance Smart Chain replacing it anytime soon. That could change if ETH continues to delay network upgrades. But with EIP-1559 and ETH 2.0 in sight, Ethereum will become stronger than ever before. One thing for sure is that Binance Smart Chain's level of mainstream adoption is low compared to Ethereum. As long as this is the case, Ethereum won't be going anywhere. Just my opinion
IMHO, I don't think BSC will become a new Ethereum that's because BSC is just an alternative or an option to use right now due to the expensive transaction fees of the Ethereum Network, and that's a reality nowadays, and if the Ethereum gas problem will be solved I'm sure many platforms will go back to Ethereum Network as their prime Network. Binance Smart Chain has its own characteristics and purposes that's why let us stop comparing BSC to Ethereum because it was different while about the price I think BNB was still undervalued right now so I expect the price to reach $800-$1000 in the near future.
I would say never say never in crypto. I do agree that ETH is just much bigger, think about it even with the huge fee's right now ETH is still getting more attention and much higher in price as well, and that is with like x100+ more fee paid for using it. However I would also say that BNB could go over ETH in marketcap as well, why? Because I remember when Namecoin was the second ranked coin in the world, then I remember Litecoin became the second, then I remember XRP became second, now it is ETH that is second.Over time most of the second ranked ones go lower, that means there is a chance ETH could as well, it is much better than the other ones I listed obviously, but they were the best of their time as well, then something better came along and the second one dropped. Which means there could be a time when ETH loses the interest people have to it, and BNB could gather that interest and could go to second, not saying it will happen, just saying we have seen these type of things in the crypto world before so it wouldn't be a big shock if it happened.
There are a lot going with ethereum right now, but thinking of what Binance has been able to do lately it has been good. Providing a solution to the one of the most challenging issue faced by lot of traders. In terms of high gas fee on the ETH network. Looking at this if Binance can provide a solution to and bring in a better way or better if ETH blockchain technology can be adjusted to reduce the gas fee to the minimal it will be good and it will still maintain the lead as the world best altcoin.
It is really useless to compare the ethereum network with others at a time when ethereum is fully renewed. I don't see any point in this. All the same, these estimates will lose their significance in the near future, as the actual data will continue to change. When ethereum finishes updating, then we will compare. I think the updated ethereum will look much more attractive than it does now.
BSC is not new ethereum but BSC can be a competitor for ethereum, especially in the fees. With many new projects moving their chain into BSC, they can benefit from the lower fees than if they still use ethereum. Maybe after the next update from ethereum, it can solve the fees problem so ethereum can still defend the position in the market.
in terms of cost, I'm sure the BSC has also won far.now in the spotlight is the use of the Binance chain network which has seen a huge increase.
today the BSC network and some of its popular assets today are the favorites of day traders.
while in the ethereum network, we still hear long-term investors who will voice to hold on to assets while waiting for ethereum 2.0 to finish.
it is still too early if the Binance Smart Chain is able to replace Ethereum or it is said to be the new Ethereum at this time. The high cost of gas incurred by Ethereum is able to create a new breakthrough developed by the Binance Smart Chain so that Binance is the right solution to overcome the gas costs that must be incurred. no wonder that most projects currently switch to Binance because it has lower transaction fees, perhaps more precisely Binance Smart Chain can be said to be a competitor to ethereum at this time
a competitor that has a high probability of replacing ethereum in the future. in the future Binance smart Chain may have a larger number of transactions than the ethereum network. and many projects use BSC instead of ethereum because the GAS fee problem cannot be resolved. This is a tough time for ethereum if the problem is not resolved as soon as possible, this could trigger people to switch to the BSC platform.
Ever since the "De-Fi" craze began on 2020, Binance Coin has been on a constant uptrend in price. It went all the way from nearly $20 to just $500 in a matter of months. Binance has done a good job in promoting its own currency, resulting in massive adoption in the mainstream world. The world's largest crypto exchange owns "CoinMarketCap" so it has all the tools to make BNB a huge success. With near-zero fees and near-instant transaction confirmation times, Binance Smart Chain (which powers BNB) could become the "next Ethereum" in the crypto/blockchain space. Vitalik and his team better hurry up on scaling Ethereum before it's too late. With how fast BNB has grown lately, it could flip ETH sometime in the future.
What do you think? Is Binance Smart Chain the "New Ethereum"? Or is it too early to tell? Do you think it will replace Ethereum sometime in the future? Are current prices sustainable in the long run? Your input will be greatly appreciated. Thank you very much
What do you think? Is Binance Smart Chain the "New Ethereum"? Or is it too early to tell? Do you think it will replace Ethereum sometime in the future? Are current prices sustainable in the long run? Your input will be greatly appreciated. Thank you very much
BNB is eating ethereum market share. BSC just took the initiative of the problem of ethereum network of high gas fees and offer a new project with a better solution with their new BSC chain which costs very low gas fees compare to ethereum. At the same time price of BNB is rallying up and made more than double its previous price. Ethereum just got a hard competitor.
It is hard to tell. Ethereum is facing its hard time due to the high fees which consume huge money from investors. Thus, they are hesitant to use the ether chain for ICO, IDO or swap. Binance, on the other hand, is having better fees than ether which is less than $0.5 per transaction (compare with $20 from ethereum). Therefore, many projects decide to move on this blockchain to attract more investors. Each has their own advantages and disadvantages. But right now, it seems that BSC is getting better and better everyday
BSC is not new ethereum but BSC can be a competitor for ethereum, especially in the fees. With many new projects moving their chain into BSC, they can benefit from the lower fees than if they still use ethereum. Maybe after the next update from ethereum, it can solve the fees problem so ethereum can still defend the position in the market.
Any project capable of implementing smart contracts can become a new Ethereum. We've got NEO, EOS, BSC, DOT, ADA and it looks like they're all new. BSC alone has a 100% Ethereum-compatible bridge and it is the place for projects to move in as a placeholder token to reduce transaction costs for traders. BSC takes a pretty similar approach to ETH as they are already a perfect copy of ETH.
Investors are thinking about more returns and they don't care much about proper development. Honestly, right now projects are copying each other's source code and degrading the crypto space. I am expecting ADA to have a breakthrough in the creation of quality projects. Even the current DOT still has many projects on the ETH network.
Investors are thinking about more returns and they don't care much about proper development. Honestly, right now projects are copying each other's source code and degrading the crypto space. I am expecting ADA to have a breakthrough in the creation of quality projects. Even the current DOT still has many projects on the ETH network.
it looks like they take attention from the fees given the same as erc20, bsc or bep20 networks have the same thing and there is almost no difference at all but the erc fees are too high while bep is already using the postal network and the fees are not expensive, that is why the bnb has increased which is very high and is just below ETH right now.
in the long term if this continues maybe BNB will outperform Eth.
in the long term if this continues maybe BNB will outperform Eth.
What do you think? Is Binance Smart Chain the "New Ethereum"? Or is it too early to tell? Do you think it will replace Ethereum sometime in the future? Are current prices sustainable in the long run? Your input will be greatly appreciated. Thank you very much
IMHO, I don't think BSC will become a new Ethereum that's because BSC is just an alternative or an option to use right now due to the expensive transaction fees of the Ethereum Network, and that's a reality nowadays, and if the Ethereum gas problem will be solved I'm sure many platforms will go back to Ethereum Network as their prime Network. Binance Smart Chain has its own characteristics and purposes that's why let us stop comparing BSC to Ethereum because it was different while about the price I think BNB was still undervalued right now so I expect the price to reach $800-$1000 in the near future.
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