Is Binance Smart Chain the "New Ethereum"? - page 4.

Abiky

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Quote from: sammy21 on July 12, 2021, 04:11:12 AM

In my opinion, both will go with their respective strategies, ETH is very strong in the crypto market, and BSC will be a choice or alternative for those who are burdened with high gas costs on the ETH network.

Both cryptocurrencies have their respective advantages/disadvantages. I've said this many times already. None can replace the other, because they serve unique purposes in real life. Comparing Ethereum vs Binance Chain is like comparing "apples vs oranges". BSC may be fast and cheap to use, but it's utterly centralized. Ethereum is decentralized, but it suffers from low transaction throughput and high gas fees. The person can use each Blockchain network's weaknesses to his/her own advantage. For short-term trades or micropayments, Binance Chain is the smart choice. But for sending large amounts of money across borders, Ethereum is the winner. How long will these cryptocurrencies last, is beyond me. What's important is not the cryptocurrency itself but rather the technology underpinning the cryptocurrency. Blockchain is what it's all about these days in order to make our world a better place. As long as Blockchain tech works as intended, nothing else matters. Just my opinion

sammy21

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In my opinion, both will go with their respective strategies, ETH is very strong in the crypto market, and BSC will be a choice or alternative for those who are burdened with high gas costs on the ETH network.

Tessnik

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Binance chain is next to ethereuem chain. The blockchain network has been involving of late and that has resulted in so many developments which binance smart chain is the defi craze, just like the ethereuem boom of 2017.

Binance coin has all it takes for its price to go to $1000 in no time from now.

lenovop-70

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I must said BSC kill the high gas price by ETH network, and Binance is very smart to put BNB as gas in their transaction, then it is not surprising that the price of BNB rised dramatically in a matter of months.
But to make BSC the next ETH, it will be a long journey to get there. I think there are other platforms that offer almost the same service as what BSC did, such as TRX network. In this case, Binance has gain power to make BSC alive since it was the biggest crypto market in the world. So Binance is the soul from BSC, when binance stop doing improvement, the dream to make BSC as new ETH will just a dream, IMHO.

Bay_Harbour_Butcher

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new ethereum? Of course not, I think ethereum is still ethereum and binance smart chain will still be a binance smart chain, but I think binance smart chain is better than ethereum, because gas fees are much cheaper

batang_bitcoin

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Quote from: bison on July 10, 2021, 06:11:53 PM

But in the crypto world, anything can happen, my friend, Since the increase in ETH transaction fees, many statements have appeared about replacing ETH, and indeed many ETH users have switched to BSC, they still need a big pump if BSC wants to replace ETH, and in my opinion that is it can happen but it takes a long time.

It was a solution when the days of Ethereum got high fees but I think that with the upgrades that have been done with the network of Ethereum, it has lessen the fees but people can't get over it as they still consider the fees too high.
But is 5 gwei still that much for them? sometimes I see it fluctuate from 5 to 41 gwei and despite that increase, I think that's still quite a discount for fees. I don't do that much transaction on BSC though.

bison

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In my opinion, Binance Smart Chain can't beat Ethereum. What makes BSC so interesting is when Ethereum gas fees were very high a few months ago. Therefore, BSC is a solution to overcome transaction costs and low transaction speeds.

But in the crypto world, anything can happen, my friend, Since the increase in ETH transaction fees, many statements have appeared about replacing ETH, and indeed many ETH users have switched to BSC, they still need a big pump if BSC wants to replace ETH, and in my opinion that is it can happen but it takes a long time.

Tervelatuk

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In my opinion, Binance Smart Chain can't beat Ethereum. What makes BSC so interesting is when Ethereum gas fees were very high a few months ago. Therefore, BSC is a solution to overcome transaction costs and low transaction speeds.

although there alot project launched under binance smart chain platform it doesn't mean replace ethereum . As the smart contract pioneer ethereum have fanatic community which is will not leave it due other feature from other platform. The gas fee problem could solved soon in developtment that many times said by core team.

caffu chino

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Quote from: sulis sudibyo on July 10, 2021, 11:40:47 AM

there is no new ethereum because there is only one ethereum and nothing will ever be like it. so bnb is not the next ethereum. bnb and ethereum are very different. bnb is getting big in its own way. it is difficult and impossible for other altcoins to become the next ethereum because it takes a huge success to be recognized as the next ethereum.

but what if BNB could do the same thing as ethereum in the future. doesn't BNB deserve to be called new ethereum". I see BNB is even more powerful than ethereum. their projects cover various things from Dapps platform, exchange, Launchpad platform and more. ethereum is big because it was released early, but if BNB and ethereum were released together, BNB might be the winner.

sulis sudibyo

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there is no new ethereum because there is only one ethereum and nothing will ever be like it. so bnb is not the next ethereum. bnb and ethereum are very different. bnb is getting big in its own way. it is difficult and impossible for other altcoins to become the next ethereum because it takes a huge success to be recognized as the next ethereum.

BigBos

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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.

well, not really. We don't know what developments CZ will make to make Binance a popular coin in the future. in fact, we can now see the progress of catching up with ethereum very quickly. maybe, for now, the price is still far less than ethereum. but, I'm pretty sure, in the future, the price of BNB will definitely be close to ethereum, and even its functionality will also be more than ethereum.

Samurai trieng

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Indeed, the bsc is one level below the eth, and the growth of the bsc is also very promising, but BSC cannot easily outperform the eth because the etherem is an altcoin that is already very strong and has a very large community in the world, especially now that the etherem transaction fees are falling, of a course it will has a positive impact on the development of the eth in the future,,,

dunfida

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Quote from: hamba laeh on July 09, 2021, 03:27:47 PM

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 also think Bsc will replace ethereum in the future if ethereum does not recover high transaction fees till now. then the role of ethereum will be replaced by bsc which has very low transaction fees. because traders will look for platforms that have low transaction fees to be able to make transactions.

Not wont really be that easy for BSC but only this project or coin i do see that has potential on soaring up that high in the future considering into its utility the the number of projects are starting to bloom out then

it would have that possible chance but it wouldnt be that easy.Trying to compare about numbers then imagine on how many projects that do attached with Smart contracts?

This is something that cant be just taken down into the ranking on the entire market but who knows on future years to come.

hamba laeh

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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 also think Bsc will replace ethereum in the future if ethereum does not recover high transaction fees till now. then the role of ethereum will be replaced by bsc which has very low transaction fees. because traders will look for platforms that have low transaction fees to be able to make transactions.

imstillthebest

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Quote

Vitalik and his team better hurry up on scaling Ethereum before it's too late.

seems vitalik and his team are not in a hurry because there are still some issues left in their eth .
are they letting bnb to take over ? maybe there are negotiations between cz and vitalik that we dont see .
binance smart chain is a new implementatiom of binance team but it was not the new etherium and if there are new etherium that would be the eth 2.0 that is currently under way .

OgNasty

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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.

geegaw

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Quote from: Iceblast on April 17, 2021, 12:35:16 AM

In my opinion, binance smart chain only releases technology like ethereum but I think binance smart chain is still on its own product and has differences with ethereum. but now the bsc platform can compete with ethereum because many projects release using the bsc platform

I agree with you, because I think BSC and Ethereum are different, so I don't agree if BSC is the new Ethereum, because Ethereum will still exist until whenever, so in my opinion BSC is just a competitor to Ethereum and not a replacement or successor to Ethereum, even I believe Ethereum will still be more popular than BSC in the future.

Different in name and unique contributions but Binance is stepping into a new role, even though they are still parasitic coins on ethereum but they also want to separate and create a system of their own, with such a development, only if binance successfully develops an independent system, the competition with ethereum will become even. Ethereum with its popularity from the past, it certainly still has a chance but the cost incurred is still a huge consideration for users while BSC Chain is a more balanced version

Baimovic

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

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

As we know that trading volume on BSC is increasing rapidly due to low fees and transactions that tend to be faster, then will BNB be like Ethereum in the future? If we look at the movements that occur in BSC, of course I also think that in the future BNB will be like ethereum but if that is the case, of course the fees will not be cheap anymore.

andyou1234

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Binance is indeed developing very well, but the ethereum still has an advantage in the current market, I think the bsc should improve its capacity even more, so that the bsc can survive because it is very difficult to match the achievement of the eth which has been in cryptocurrencies for a very long time , what is clear is that Binance is an investment with a great potential in the future,,,

junkerr

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Quote from: Iceblast on April 17, 2021, 12:35:16 AM

In my opinion, binance smart chain only releases technology like ethereum but I think binance smart chain is still on its own product and has differences with ethereum. but now the bsc platform can compete with ethereum because many projects release using the bsc platform

I agree with you, because I think BSC and Ethereum are different, so I don't agree if BSC is the new Ethereum, because Ethereum will still exist until whenever, so in my opinion BSC is just a competitor to Ethereum and not a replacement or successor to Ethereum, even I believe Ethereum will still be more popular than BSC in the future.

that's probably because BSC is indeed the result of the development of the current ethereum network. BSC developed its network based on what ethereum already built. but BSC managed to develop it better.
the adoption of a new project is currently considered to be bigger than ethereum BSC. but clearly, they are different, ethereum still has the upper hand in today's market.

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