Topic: Is Binance Smart Chain the "New Ethereum"? - page 3. (Read 3214 times)
It could be left behind due to the price of BNB, more and more people are buying to invest for the upcoming altcoins so I never thought like what you are discussing right now, but it is very likely that what we are discussing about Binance Smart Chain is the New Ethereum ETH for the world A new crypto currency to replace mass Ethereum is coming, because I myself have invested a lot in the coin myself
You’re definitely right that BSC is developing very rapidly, but I think it is due to low transaction fees compared to Ethereum. To my mind, it is not correct to compare these two blockchains as they develop in completely different ways, moreover Ethereum is decentralised as opposed to BSC!
I think that as soon as Ethereum 2.0. launches and becomes more scaling, no other chains will be able to replace ETH.
I think that as soon as Ethereum 2.0. launches and becomes more scaling, no other chains will be able to replace ETH.
Exactly. ETH's main selling point is decentralization. While Binance Chain is faster and cheaper to use, it's subject to the risks of a single point of failure. Most people don't care about decentralization these days as long as the cryptocurrency they're investing into brings them a lot of money in the long run. Expect to see BNB go higher in price and mainstream adoption as our society puts convenience/ease-of-use on top of everything else.
I'd say that Binance Smart Chain is the "New Ethereum" because most projects are "flocking" from ETH to BNB. Binance's "pet project" has been advancing at a very fast pace, as ETH's struggles to meet with today's demands. If this keeps up, BNB could replace ETH becoming the world's second-largest cryptocurrency by market cap. Hopefully, decentralization will prevail as ETH makes strides with network upgrades that will keep its position on the market for a very long time. Just my opinion
I would not say it is the new Ethereum. The question is like asking "is Ferrari the new Jeep?". For now it seems BSC is the better choice as there are no obstacles, no issues arise and Ferrari does just fine. But what if we get into shallow waters or hilly areas, would you want a Ferrari or a Jeep? The financial crisis gave reason for Bitcoin to emerge at the right time in the right environment. People started understanding why Bitcoin does make sense. Now they slowly but surely tend towards using more centralized architectures again. But only until the next lesson happens. I am not saying BSC is going to fail, but it is part of a process to strike the right balance for the world we are living in right now and the conditions it depends upon.
It's like Fukushima when right afterwards the whole world started discussing ending nuclear energy consumption and push for renewables. Or let's wait until USDT Tether implodes and people will never touch a centralized stable currency again, at least for a while. Ethereum is the Jeep, and a Jeep has its merits, but maybe not right now.
Yes that's right, Binance continues to be popular, and it looks like it will beat Ethereum for 3 years and then bitcoin 6 years, they are supported by everything to become the next ethereum.
I think BNB will never beat ethereum and bitcoin. Extra hype of some coins can be seen during each bullrun. This is exactly the hype of BNB and DogeCoin during this bullrun. This can be understood by looking at the current crypto market.Binance is starting to see some regulation issues and I imagine that will only continue to get worse. While this might have an effect on demand for BNB, the demand that is created by Binance for BNB is something that isn't present in the Ethereum space. For that reason, I could see why from an investment perspective BNB would outperform ETH, but you also have to remember that BNB might have more real demand, lower fees, a better user experience, and a massive company behind it; it still is a centralized plaything and not Ethereum or Bitcoin. Luckily, during times of bubbles the money that's being poured in is clueless to these sorts of things, so buying BNB would seemingly be a nice trade to make here. It also can be staked currently for about 3x the return of ETH, which is another potential draw for fresh money.
As a matter of fact, Binance Smart Chain is developing very rapidly now, but it is connected to low transaction fees compared to Ethereum. To my mind, it is incorrect to compare these two projects as they develop in completely different ways, moreover Ethereum is an independent decentralized blockchain as opposed to centralised sidechain BSC. I think that as soon as Ethereum 2.0. launches and becomes more scaling with switching to Proof-Of-Stake, no other chains will be able to replace ETH.
BSC isn't the new Ethereum, it still can't scale fast enough to be used by the world's population. The solution are L2s and sidechains like Aurora. Aurora is on NEAR and can scale Ethereum and BSC.
There is no new ethereum as binance.The binance chain has remained its own chain and not a competitor with ethereum, they stand alone on their own chains although they deployed the same EVM algorithms but i don't see no reason why they should be in any form of comaprism.
Some of my friends said, Binance chain is still a hard fork of ethereum. There is many chance that blockchain will be slow processing someday like eth. And its not fully decentralize. 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
You’re definitely right that BSC is developing very rapidly, but I think it is due to low transaction fees compared to Ethereum. To my mind, it is not correct to compare these two blockchains as they develop in completely different ways, moreover Ethereum is decentralised as opposed to BSC!
I think that as soon as Ethereum 2.0. launches and becomes more scaling, no other chains will be able to replace ETH.
I think that as soon as Ethereum 2.0. launches and becomes more scaling, no other chains will be able to replace ETH.
Exactly. ETH's main selling point is decentralization. While Binance Chain is faster and cheaper to use, it's subject to the risks of a single point of failure. Most people don't care about decentralization these days as long as the cryptocurrency they're investing into brings them a lot of money in the long run. Expect to see BNB go higher in price and mainstream adoption as our society puts convenience/ease-of-use on top of everything else.
I'd say that Binance Smart Chain is the "New Ethereum" because most projects are "flocking" from ETH to BNB. Binance's "pet project" has been advancing at a very fast pace, as ETH's struggles to meet with today's demands. If this keeps up, BNB could replace ETH becoming the world's second-largest cryptocurrency by market cap. Hopefully, decentralization will prevail as ETH makes strides with network upgrades that will keep its position on the market for a very long time. Just my opinion
BSC can be called the new ethereum because many projects use the BSC network. maybe on the basis of this what makes as a BSC is often associated with the new ethereum even though it is very different. so I think it's a different platform but with the same goal
It certainly different platform. BSc created with defi in mind or massive token creation, eth was like a prototype chain for smart contract at the beginning and that's why eth just feels lacking compared to BSc in scalability. But eth is growing day by day and there's upgrade every time to make it not obsolete. I think eth will become hugely scalable as well in the future but I don't know whether eth can contain many transactions like other block chain that made specifically for nft based game's. It is because validation in Ethereum is spread out over thousands of nodes, making it very hard to fool the network, or actually it is impossible to attack Ethereum I would say. BSC just choose a less secure validation process and that makes them more efficient.
The use of bsc chain has increased a lot now. But it could not be as advanced as the ERC-20. The bsc chain needs to be further upgraded and more features need to be added to its contract. Then it can be an alternative to ETH
Its like Ethereum but cheaper and faster since its already implementing PoS mechanism, also its have another special fundamental like used on a Binance Exchange as fee transaction to get discount.
As long the DeFi tech implemented well, its will keep goin stronger in fundamental.
I do agree, it seems as long as a chain offers defi capability and making it capable to scale for long term its enough, as we can see the recent NFT for example the games need really so much power of blockchain to just run one and we havent seen this nft game hype on its peak, im sure in the future we gonna need more and more blockchain thats capable handling many transactions for defi and blockchain games purpose.As long the DeFi tech implemented well, its will keep goin stronger in fundamental.
For that feature, i prefer EOS over BSC, its hard to create account but with the EOSPowerUp features you can have many covered transaction by just pay a single powerup.
Also, the Validator behind the blockchain is more decentralized than BSC.
I see BNB is more about superior features that are always presented to its users and BNB also has strong fundamentals both when BTC correction plus FUD is happening right now. For ETH I see it remains above BNB, For ETH is the king of altcoins after BTC.
BSC can be called the new ethereum because many projects use the BSC network. maybe on the basis of this what makes as a BSC is often associated with the new ethereum even though it is very different. so I think it's a different platform but with the same goal
so launched with excellent momentum. BSC did get very good market enthusiasm. BSC adoption is increasing rapidly. even pancake swap is growing very fast.but unfortunately, too many projects take advantage of this hype. As a result, more and more bad projects appear on the BSC market. hopefully, it will not have too big an impact on the growth of BSC in the future. Moreover, ethereum is also getting better with its updates which are always on hold.
Binance chain is not new ethereum. Binance has done well for it's coin bnb and for cryptocurrency in general. Binance has one of the largest and secure cryptocurrency exchange and has been up and running since 2017 without major problem except for the hack that happened last time and it was decisively mitigated! Now we know that your fund is safu! Ethereum is however decentralised and people trust ethereum network more than binance chain!
BSC can be called the new ethereum because many projects use the BSC network. maybe on the basis of this what makes as a BSC is often associated with the new ethereum even though it is very different. so I think it's a different platform but with the same goal
I do agree, it seems as long as a chain offers defi capability and making it capable to scale for long term its enough, as we can see the recent NFT for example the games need really so much power of blockchain to just run one and we havent seen this nft game hype on its peak, im sure in the future we gonna need more and more blockchain thats capable handling many transactions for defi and blockchain games purpose.
Indeed, blockchain-based games have potential if developed by developers who are really serious about working on them. but, what is worrying is, the team only developed the project to follow the hype, but in the end the project has no certainty. This is something the community must pay attention to. Whether in ETH, BSC, Polygon or others, in the future, NFT or non-NFT based games will eventually not get community support so this becomes a dominant innovation controlled by projects that already have a lot of support, for example, Cryptokitty, Axie, Fara. New project need more innovations if wants to get more attantion from community, if it just similar, maybe it will be failed.
Its like Ethereum but cheaper and faster since its already implementing PoS mechanism, also its have another special fundamental like used on a Binance Exchange as fee transaction to get discount.
As long the DeFi tech implemented well, its will keep goin stronger in fundamental.
I do agree, it seems as long as a chain offers defi capability and making it capable to scale for long term its enough, as we can see the recent NFT for example the games need really so much power of blockchain to just run one and we havent seen this nft game hype on its peak, im sure in the future we gonna need more and more blockchain thats capable handling many transactions for defi and blockchain games purpose. As long the DeFi tech implemented well, its will keep goin stronger in fundamental.
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
Its like Ethereum but cheaper and faster since its already implementing PoS mechanism, also its have another special fundamental like used on a Binance Exchange as fee transaction to get discount.
As long the DeFi tech implemented well, its will keep goin stronger in fundamental.
Although it could be early to tell that binance smart chain could be the next ethereum, i think it could since it has a potential that de-fi brought and since it has the new trends now that has its own capabilities, i say that it can be the new ethereum because many crypto enthusiasts would use this type of crypto since ut has also a low cost transactions and furthermore it's volume would increase. But it is only my idea, we have different perspective and no one knows exactly what would be happening in the long run.
It is just BSC and ETH is ETH. What I ask myself is what is the legal situation like for BSC? I know they claim that nothing could really happen since they have a diverse set of validators, but is that true? Are those validators known? Could Binance in any way be sued or forced to conduct KYC or AML procedures on the BSC chain?
Although it could be early to tell that binance smart chain could be the next ethereum, i think it could since it has a potential that de-fi brought and since it has the new trends now that has its own capabilities, i say that it can be the new ethereum because many crypto enthusiasts would use this type of crypto since ut has also a low cost transactions and furthermore it's volume would increase. But it is only my idea, we have different perspective and no one knows exactly what would be happening in the long run.
You’re definitely right that BSC is developing very rapidly, but I think it is due to low transaction fees compared to Ethereum. To my mind, it is not correct to compare these two blockchains as they develop in completely different ways, moreover Ethereum is decentralised as opposed to BSC!
I think that as soon as Ethereum 2.0. launches and becomes more scaling, no other chains will be able to replace ETH.
I think that as soon as Ethereum 2.0. launches and becomes more scaling, no other chains will be able to replace ETH.
binance smart chain is not ethereum. but more precisely ethereum competitors although not necessarily able to be in ethereum's position. because what we think today is that many projects are using the smart chain platform for their projects, giving rise to the perception that smart chain is the new ethereum
well, binance smart chain couldn't beat ETH yet, and i don't think it could, even with the really high fees in Ethereum network in it still maintained its spot, and the high fees can be fixed so it's really hard for BSC to overtake it, i think because BSC did not do it now it won't do after. Jump to: