Is Binance Smart Chain the "New Ethereum"? - page 6.

ChaoChibai

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Quote from: Abiky on April 16, 2021, 01:51:25 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 it is too early to say that binance will replace ethereum, because ethereum is so huge right now and so many investors who believe in it. But in the other hand, binance also has its advantage.
Maybe we can compete both ethereum and binance in couple years later.

john1010

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We all could say yes, because there's a lot of adaptation now on Binance Smart Chain, so many project now are begin to use BSC no doubt about it, in my speculation BNB will be the next ETHereum that's base on what we are seeing right now.

haidil

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Quote from: fearfulcalm on June 09, 2021, 10:58:29 PM

actually in BSC, how can the fee stay so low?
in the future BSC will have same problem than ETH Shocked

this is like eth in mini form because maybe BSC will benefit more because the gas costs are affordable and can be used by everyone including small traders because with very cheap gas costs, many people will come there because everyone wants that.
but it's true that gradually as the bsc gets higher the price automatically the gas will follow and it could be the same as eth which is getting more and more crazy the gas used for transactions.

Xxmodded

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I think by present with Binance smart chain we have many option for buying coin network not only with ERC but also we can try with BSC, I think when both network give us much profit is not matter who is the best between BSC and ERC, keep have advantage and disadvantage between both BSC and ERC, just choose depend which one give us more profit later.

junkerr

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Quote from: nurulhmani1280wat on June 15, 2021, 09:40:27 PM

yes that's right mate, bsc is a coin that has been able to break through from $200 to $500 this year, and many projects are currently using the bsc wallet due to the very low cost of gas (BEP20).

I don't think the size is related to the price. BSC is integrated with BNB. it is only related to the use of the blockchain network.
BSC is indeed more popular because it can take the momentum from what is happening on ethereum. The increase in ethereum transaction fees made BSC successful in gaining strong adoption with the support of pancake exchanges.
In the past, BNB also developed a BEP-2 product with Binance DEX support, but I don't think it can take the momentum from ethereum.

nurulhmani1280wat

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Quote from: Iceblast on April 17, 2021, 01:35:16 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

yes that's right mate, bsc is a coin that has been able to break through from $200 to $500 this year, and many projects are currently using the bsc wallet due to the very low cost of gas (BEP20).

hari9981

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Quote from: harapan on June 15, 2021, 12:32:33 PM

Binance Smart Chain is not in any way the new Ethereum, binance chain has managed to make a name for itself and has worked its way up to becoming one of the top altcoins on coin market with the coin price growing from just tens of dollars to hundreds of dollars and since then it has been doing great, we also can't deny the fact that since eth gas fees became unbearable for retail traders, so many projects have been launched on binance chain, the ecosystem has grown massively throughout this bull run, but can't call it the new Ethereum just because of that.

I think the OP want to say BSC as new Ethereum by the background its the most popular dApps beating Ethereum recently. We dont know its will a long last or will just happen temporary until Ethereum solved its problem by ETH 2.0

vabchgent

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Quote from: dhemasm on June 15, 2021, 03:47:03 PM

Quote from: harapan on June 15, 2021, 12:32:33 PM

But can't call it the new Ethereum just because of that.

Yeah i agree with you but it was copycat and forked from Ethereum Source code, Have similarity 1:1 from explorer, Interface, Source code, etc and that make BSC and ETH different is the algorithm where BSC was PoS and ETH was PoW (For now) Beside that BSC was more centralized. Well It's good alternaitve since the fee was really low and confirmation time was fast but i suppose BSC can't replace ETH.

BSC is by far more centralized, but in terms of its efficiency it is obviously helpful. That has always been the issue Vitalik pointed out. If you want an extremely secure network, it must be as decentralized as possible. If you want speed, go for a more centralized network. Ethereum is just built differently and I hope they can find a sweet spot between decentralization and security such that it is not a pain in the ass anymore to use the network.

dhemasm

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Quote from: harapan on June 15, 2021, 12:32:33 PM

But can't call it the new Ethereum just because of that.

Yeah i agree with you but it was copycat and forked from Ethereum Source code, Have similarity 1:1 from explorer, Interface, Source code, etc and that make BSC and ETH different is the algorithm where BSC was PoS and ETH was PoW (For now) Beside that BSC was more centralized. Well It's good alternaitve since the fee was really low and confirmation time was fast but i suppose BSC can't replace ETH.

marcous

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Quote from: bison on June 15, 2021, 10:44:29 AM

Yes, BSC will survive and will continue to grow, with a large market capitalist today, and the many projects that host to it, this will strengthen the foundation of BSC to survive in the future.

True, and this kind of thing has also happened to ETH in the past where many projects want to use the ETH platform to create their tokens so that ETH is now really strong and difficult to compete with others, as well as the current BSC where the foundation will be really strong if all new projects want to use BSC in terms of creating new tokens.

Abiky

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Quote from: VanDeinsberg12 on June 13, 2021, 06:41:56 AM

People sticks to BSC not because they love the blockchain but because the projects there are many varieties from the pump and dump coins to some decent project but honestly I never see something serious developed in BSC beside the defi.

Most of the long term promising projects either still stick to ethereum or create their own mainnet, also if RSK become the next big thing it could potentially reduce the market share of coins below 3rd rank.
I think you know it very well that the only thing keeping people in BSC are those shitcoins for trying luck or in a nutshell gambling. but that's just my opinion alright, take it with grain of salt

BSC is extremely popular because of the low fees and blazing-fast transaction speeds. This makes Binance Smart Chain the ideal Ethereum alternative. Of course, the platform is utterly centralized. But most people don't care as long as they're able to fill their pockets with money in the least time possible. With useless coins like SHIBA and Safemoon gaining traction on BSC, anything can be expected. I'm surprised how fast BNB went all the way to the moon compared to other cryptocurrencies on the market. Binance Coin is now the third-largest cryptocurrency by market cap next to Ethereum. It may never replace ETH, but it could retain its position on the market as people use it more thoroughly in the mainstream world.

No matter what happens in the future, both BNB and ETH will be here to stay. They will continue to grow until they become a "force to reckon with". Since BSC is based on Ethereum, the world's second-largest cryptocurrency by market cap has nothing to lose. Just my opinion

harapan

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Binance Smart Chain is not in any way the new Ethereum, binance chain has managed to make a name for itself and has worked its way up to becoming one of the top altcoins on coin market with the coin price growing from just tens of dollars to hundreds of dollars and since then it has been doing great, we also can't deny the fact that since eth gas fees became unbearable for retail traders, so many projects have been launched on binance chain, the ecosystem has grown massively throughout this bull run, but can't call it the new Ethereum just because of that.

chakhigh

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I believe there is so much potential in Binance Smart Chain. New projects use it instead of Ethereum. More financial platforms (like the MocktailSwap) rely on it to attract more users.

So, yes, BSC has the potential to grow bigger.

bison

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Quote from: VIP BTC on June 15, 2021, 01:36:33 AM

I think the presence of Binance Smart Chain in the coin world adds to the list of successful coins now and in the future, ETH is indeed very moving and is still holding on to this day, but I believe Binance Smart Chain will also survive in the long term.

Yes, BSC will survive and will continue to grow, with a large market capitalist today, and the many projects that host to it, this will strengthen the foundation of BSC to survive in the future.

leea-1334

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If it is indeed,,, then is BNB prepared to go through what happened to ETH? From 1400 it dropped to below 90. For a similar move for BNB it would have to drop below $40:)

Will people be prepared to hold on as much or will they let go? And about the devs? Binance devs ready to let go and decentralize at some point? I think not really right?

VIP BTC

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Quote from: Abiky on April 16, 2021, 01:51:25 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 the presence of Binance Smart Chain in the coin world adds to the list of successful coins now and in the future, ETH is indeed very moving and is still holding on to this day, but I believe Binance Smart Chain will also survive in the long term.

SARA ISLAM

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It is not yet time to mention whether Binance Smart Chain is that the new Ethereum, as Ethereum still holds its position within the coin market, but Binance Smart Chain is probably going ahead with transaction fees and other benefits.

unusualfacts30

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one of the thing that makes binance better is that they have their own exchange and apps that are easy to get to compare to eth. Lot of new alts are being built on smart chain vs eth this takes a load off eth network and fees are cheaper compare to what they were before bsc came across. As long as they continue to improve they'll grow at much faster rate.

deathcode

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Quote from: ?? on ??

Quote from: Abiky on April 16, 2021, 01:51:25 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

It's too early to tell but I like using it since I start investing in DEX they are very cheap fast and you can even create a bridge on your Ethereum, I don't like to call it a new Ethereum, it should create a name for itself and not follow Ethereum because they are the nearest competitor of Ethereum.

success brings traders who are struggling due to the high transaction fees of ethereum on a simple, fast and cheap exchange already provided by BSC. we see how the popularity of Uniswap with the ethereum network applied very expensive fees at that time. everyone screamed because they couldn't trade anymore. but BSC came up with a very helpful solution for traders.
we really can't call it new ethereum. because BSC has now formed a strong new ecosystem.

VanDeinsberg12

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Quote from: bitgolden on June 10, 2021, 04:04:10 PM

Quote from: Abiky on June 10, 2021, 11:19:55 AM

People will use the platform that's leaves them with "more bang for their buck". It's no wonder why BSC rose to fame at such a short amount of time. Ethereum may have the best dApps and tokens in the crypto/Blockchain space, but if it doesn't solve the "high gas fees" it won't be going anywhere. Only whales and wealthy people will be able to use ETH on a daily basis. Developers better hurry scaling the ETH blockchain before it's too late. The much-awaited ETH 2.0 upgrade should get things going for the world's second-largest cryptocurrency by market cap. In the meantime, Binance Smart Chain would be the platform to use for "De-Fi" and NFTs.

Nonetheless, it seems to me that Binance Smart Chain (BSC) is here to stay. It may never be able to replace ETH, but it'll serve as an alternative for people looking into blazing-fast transaction processing times at a fraction of the cost. BNB might remain as the world's third-largest cryptocurrency by market cap, because of its ever-growing popularity in the mainstream world. Time will tell us what lies ahead for both platforms (ETH and BSC) as crypto/Blockchain tech becomes regulated by mainstream governments. Just my thoughts Grin

Even after the eth gas fee dropped there is still a ton of people using BSC over ETH because how they are used to it. I mean it does make sense in a way because once ETH lost all these people, they are all gone and why would they come back? Does ETH offer something better? If not they left because of a reason and they will only come back for a reason and there is none right now.

I believe eth will get better after eip 1559 happens and prices change a lot but I still think that BSC people like me will only return to ETH if there is a good reason, not just "we are nearly there on gas fee" because that is not a good enough reason, but a much better reason like how they are doing something BSC is not doing at all. Even those projects at ETH which are looking good do not mean anything when there are so many good projects at BSC as well.

People sticks to BSC not because they love the blockchain but because the projects there are many varieties from the pump and dump coins to some decent project but honestly I never see something serious developed in BSC beside the defi.

Most of the long term promising projects either still stick to ethereum or create their own mainnet, also if RSK become the next big thing it could potentially reduce the market share of coins below 3rd rank.
I think you know it very well that the only thing keeping people in BSC are those shitcoins for trying luck or in a nutshell gambling. but that's just my opinion alright, take it with grain of salt

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