Is Binance Smart Chain the "New Ethereum"? - page 2.

tbct_mt2

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Quote from: andriarto on August 11, 2021, 09:37:40 PM

this is the time for defi and nft, so many of their new projects mostly use bsc.

It is the time for altcoins and a new altcoin season that does not limit to only DeFi or NFT tokens. Projects that have capability to run on multiple chains get more interests from investors. Duel, multiple chains are very big advantages for them. Projects that have their blockchains run on a single chain have less attraction to investors.

Because any chain will have uncontrollable time with expensive transaction fees. People would prefer to choose a chain that gives them cheaper transaction fee.

Quote

but if bsc is said to be the new ethereum, I don't think it can match it yet. we know ethereum has improved and is currently experiencing a high level of trust again. on the other hand we will see in the future about the development of this project, whether it will become dominant in the long term, thus attracting investors and allocating it to nft and deficient projects.

Who said BSC is a new Ethereum. CZ calls it as a Ethereum killer.

BSC does not need to be a new Ethereum, be itself.

Ethereum and BNB

andriarto

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Quote from: Psynthax on August 11, 2021, 08:18:28 PM

Quote from: ?? on ??

Quote from: Kezacky on August 11, 2021, 02:35:18 PM

maybe yes and maybe no. I can't predict whether Binance Smart Chain is the new Ethereum, as Ethereum still holds its place in the coin market, but Binance Smart Chain will probably continue with transaction fees and other benefits. in real use cases ETH and BNB are both strong have platforms and large communities. but in terms of transactions, BNB has very low fees compared to ETH.

Now many new projects want to work on the bnb network, since the commissions and speed are really better in many aspects. The eth network will still be in demand since many tokens work on this network, time will tell who will be more popular, I think another year or two and it will be possible to draw final conclusions.

I think it doesn't need a year or two to draw conclusion, the condition will probably be the same like now, BNB isn't having intention to overtake eth in my opinion, while eth also fixing its problem slowly. people free to choose one of them but theyre not limited to only one of them. maybe in the future projects will be available in both eth and bnb too, everything is possible. but maybe nft will still mostly in bsc.

this is the time for defi and nft, so many of their new projects mostly use bsc. but if bsc is said to be the new ethereum, I don't think it can match it yet. we know ethereum has improved and is currently experiencing a high level of trust again. on the other hand we will see in the future about the development of this project, whether it will become dominant in the long term, thus attracting investors and allocating it to nft and deficient projects.

Psynthax

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Quote from: Kezacky on August 11, 2021, 02:35:18 PM

maybe yes and maybe no. I can't predict whether Binance Smart Chain is the new Ethereum, as Ethereum still holds its place in the coin market, but Binance Smart Chain will probably continue with transaction fees and other benefits. in real use cases ETH and BNB are both strong have platforms and large communities. but in terms of transactions, BNB has very low fees compared to ETH.

Now many new projects want to work on the bnb network, since the commissions and speed are really better in many aspects. The eth network will still be in demand since many tokens work on this network, time will tell who will be more popular, I think another year or two and it will be possible to draw final conclusions.

I think it doesn't need a year or two to draw conclusion, the condition will probably be the same like now, BNB isn't having intention to overtake eth in my opinion, while eth also fixing its problem slowly. people free to choose one of them but theyre not limited to only one of them. maybe in the future projects will be available in both eth and bnb too, everything is possible. but maybe nft will still mostly in bsc.

ilovealtcoins

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BSC is a project that copies the source code from Ethereum and people can use Solidity on BSC like on Ethereum to create projects. Low cost and high speed are advantages of using BSC.
I think that in the long term Ethereum will solve most of the cost and speed problems so BSC is just a phenomenon. BSC needs many upgrades to differentiate itself from Ethereum.
For me, BSC is pretty nice and has many projects running on it. The trading volume on BSC is quite impressive. It can also be a good choice to experiment and invest because they have a lot of money and do their project upgrades often.

Chathusand

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Binance Smart Chain has shown to be a viable alternative to the Ethereum Blockchain for new cryptocurrency projects seeking the same level of security as the Ethereum Blockchain but operating on a significantly faster network. Because the BSC has a very rapid blockchian and a low transaction price, it's no wonder that many projects are embracing it.

Golftech

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Quote from: Ureung jameun on August 06, 2021, 01:09:58 PM

I think now is the time for BNB / BSC to become the new Ethereum. because bsc has provided something that traders really need, namely low transaction fees and fast processing. and now there are many new altcoins that have used the binance platform and many new altcoins that have mutated from ethereum to binance. because ethereum transaction fees are very high and the process is a bit slower than Binance.

This features really attracts more users to use BSC and with the presence of NFT games,

there are more people who are now enjoying the service of binance chain.

In the sense of competitions, ETH also moving forward and those who invest with this coin still enjoying the benefits coming

from this asset, they already adjust and lower the fees not as low as bsc but for traders who are stuck with ERC, they are good

with how much fees ETH is implementing now.

Ureung jameun

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Quote from: Abiky on April 16, 2021, 12:51:25 PM

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

I think now is the time for BNB / BSC to become the new Ethereum. because bsc has provided something that traders really need, namely low transaction fees and fast processing. and now there are many new altcoins that have used the binance platform and many new altcoins that have mutated from ethereum to binance. because ethereum transaction fees are very high and the process is a bit slower than Binance.

cricketkhampion

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No, because it is not possible BSC network is different from the ETH network.so you can't say BSC network is New ethereum and eth is very strong project and eth has many supporter then BSC

adekogbe

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Binance smart chain has proven to be a good alternative to the ethereum Blockchain for new cryptocurrency projects that aim to enjoy the type of security the ethereum blockchain provides but also with a much faster network.
The BSC boasts a very fast blockchian with a relatively small transaction fee so it is no surprise how a lot of projects are adopting it

Masyudhi

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Quote from: ?? on ??

I see a lot of people compare Binance smart chain to ethereum and say BSC will take over Ethereum, then I laugh hard. that is nnot going to happen because Binance smart chain itself is hosted on the ethereum network not is only thriving because of ethereum shortcomings (high fees).

I'm sure it's not a takeover or replacement. BSC has had tremendous adoption this year, so it's only natural for them to think that way.
BSC and several other networks such as Polygon were also adopted from the development of the first blockchain smart contract technology. developmentally I think ethereum is still the best.

Abiky

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Quote from: CryptoLogo on August 02, 2021, 12:40:17 PM

It seems to me it's not that difficult. All the same, the BSC proved to be excellent in terms of an alternative network for deploying projects at a time when Ethereum showed huge commissions.
Therefore, the comparison is more appropriate than not. Even now, the fees on the Ethereum network can be called extortionate compared to the fees on the BSC network.

Binance Chain has all it needs to "overcome" Ethereum in the future. What's stopping it from doing so it's utterly-centralized design. Despite having low fees and blazing-fast speeds, Binance heavily controls its own blockchain network. This brings the single point of failure crypto/Blockchain tech was meant to avoid in the first place. As long as BNB remains centralized, it will only serve as an alternative than a replacement of the main Ethereum blockchain. We could say Binance Smart Chain is the "New Ethereum" in the sense that most projects have switched to it because of its high transaction capacity and unparalleled performance. "De-Fi" on BSC is on the rise, while in ETH, it has stalled quite a bit.

Fortunately, ETH is close to become a full-fledged cryptocurrency making high fees and slow transaction confirmation times a thing of the past. People will get to decide which smart contract platform is best depending on their daily needs. I have a feeling that both projects will survive for a long time thanks to their communities supporting them every step of the way. Just my thoughts Grin

CryptoLogo

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It is difficult for BSC to compete with ethereum. BSC network with BNB as native coin is difficult to compete with ethereum because investors will always associate BNB with Binance exchangers and this makes it difficult to develop further as ethereum stands alone as a separate coin entity

It seems to me it's not that difficult. All the same, the BSC proved to be excellent in terms of an alternative network for deploying projects at a time when Ethereum showed huge commissions.
Therefore, the comparison is more appropriate than not. Even now, the fees on the Ethereum network can be called extortionate compared to the fees on the BSC network.

el kaka22

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I feel like people need to stop thinking what will be next ethereum and start thinking about what a certain can coin become all by itself. Think about it this way, did bnb reach to what ethereum was? Easily, right now BNB is a lot bigger than what ETH was 2 years ago, that much is obvious, does that make BNB "new ethereum" I do not think so.

I think it is obvious that BNB is "what ethereum was" and that is it meanwhile ETH kept going up as well. Comparing it, in start of 2020 ETH was around 100-150 dollars, bnb is twice more than that, even a bit more, but eth is reached as high as 4k at some point and still nearly 10x bigger than BNB, so that shows that even though BNB became better than what ETH was, ETH also kept improving a lot.

Evgenklm

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BNB has a good competitive advantage over ETH, during the bullish trend in the market, when ETH and BNB conquered new ATH, it is impossible to simply transfer funds in the ETH network, the commission reached up to $ 80, but BNB 0.1$ and this is a huge advantage over ETH.So BNB has every chance to beat ETH.

Trilliumdoll

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Binance Chain is still at earliest stage of development so it cant be compared with Ethereum chain. Binance Smart Chain still need lots of developments. I never said Binance Smart Chain is not a brilliant blockchain innovation but it still needs time to meet up with Ethereum chain standard.Etherreum chain has been existing fore some few years now and has gained lots of trust from the global users. Heavy transaction gas in Ethererum chain allowed some project to make huge shift to Binance Smart Chain . Both network will make a huge impact in Crypto industry in the future.

Rahman11

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Bsc or BnB only binance based coin otherways etherum independent, need more freedom for bsc if it’s can compare against ethereum. ethereum is a most usable coin behind bsc and most market demanded after bitcoin.

Pelana vreo

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Quote from: Abiky on April 16, 2021, 12:51:25 PM

-snip-
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

I like Binance Smart chain because smart contract compatible with EVM, After seeing some new project developments on the BSC network, I don't think BSC will be the next Ethereum because ethereum is still ethereum and Bsc is a good solution with transaction fees and technology that supports EVM.
There are many new projects on the Ethereum network and as we know, BSC has few new projects and rapidly some developers are starting switch to BSC network to get cheaper transaction fees, I hope these two platforms continue to provide great progress for their users because there will be many new platforms in the future with new ideas.

Karartma1

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BSC use cases are very limited right now and only attaining to idiotic projects and tokens. I personally feel it could be a good alternative to Ethereum-like blockchains but it needs to get battle tested with much more important use cases like trade finance, cross border payments with smart contracts clauses etc. It's good if you want to launch your own token and project but apart from that I don't see a real value.
CZ certainly sees the value of it though.

David.Jack

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Quote from: Abiky on April 16, 2021, 12:51:25 PM

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

Binance smart chain is the separated chain. So BNB smart chain could not replace the ETH chain. However, regarding system development and innovation competition would be applicable.

zachyboy090118

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Quote from: Abiky on April 16, 2021, 12:51:25 PM

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

We can see binance is now in its pick and making stronger in the cryptomarket, but disagree in what have you say that it replace ethereum. For me that a big '' No No'' because ethereum is always the best decentralized blockchain and proven in so many years to be the great alts second to bitcoin.

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