Is Binance Smart Chain the "New Ethereum"? - page 7.

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Quote from: Abiky on June 10, 2021, 10:19:55 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.

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Quote from: nurilham on June 09, 2021, 06:53:27 PM

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

Is Binance Smart Chain the "New Ethereum"?

I am sure all people won't agree if you state BSC is the new Ethereum. The is no correlation between Ethereum and BSC. Even if BSC is trying to solve the problem of Ethereum transaction gas and it is also using MetaMask, but those are different things. BSC is fully controlled by the Binance exchange, while Ethereum is owned by Vitalik. Those won't have the same ways and must have their own networks.

Still far away price BSC and ethereum, how ever I disagree with both coins which one is prefer and potential for the future because both coin never against with bitcoin price, every time when bitcoin down both coin BSC and ETH down never can stay with their self how to be strong when bitcoin down they keep have higher price.

It's the momentum insied the market and once Bitcoin suffer everything around are also suffering the

bloodshed, still far to have an independent run as the entire community still checking for bitcoin before

moving to another alts to invest their money, not even this two giant project can sustain theur value

when bitcoin start to dump,.

Abiky

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Quote from: Dr.Osh on June 07, 2021, 11:54:28 PM

well, because ethereum fees are more expensive than BSC, and because there are some other problems, nowadays people tend to use BSC instead of ETH in building new projects. Well, I myself feel the fee is cheap, and the transaction is fast. I think, BSC can be said as the new ethereum in the future. but for now, it looks like the use of ETH is still more than BSC, especially now that there are so many coins that use the ethereum platform.

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

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

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

It was specifically made for scaling and already having the mindset of preventing massive gas price fluctuation that's why they are deemed as rather centralized
by most of people since I've heard all validator in this chain fully controlled by one entity. they are high in TPS as well but they could get congested just like what ethereum is
facing right now, just have bigger capability to keep the transaction fee at bay. but unfortunately though it's so populated with some random defi projects that it infest BSC to the point where there's thousands rugpull and scam
activities happening.

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

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

Is Binance Smart Chain the "New Ethereum"?

I am sure all people won't agree if you state BSC is the new Ethereum. The is no correlation between Ethereum and BSC. Even if BSC is trying to solve the problem of Ethereum transaction gas and it is also using MetaMask, but those are different things. BSC is fully controlled by the Binance exchange, while Ethereum is owned by Vitalik. Those won't have the same ways and must have their own networks.

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Quote from: seoincorporation on June 09, 2021, 10:57:03 AM

BSC is just a copy of the Ethereum smart contracts, but with their own chain they can earn more with the fees while people create more Tokens. But I don't think it will replace ETH, in the end people who make a token with ETH could make a copy in the smart chain. Is really cheap to make a token and the problem of that is what will happen if people start cloning the tokens from one ETH smart contract to BSC, which will be the new kind of identity fraud.

In the end, its a Grady decision by Binance, and it only brings confusion to the tokens world.

Anything Binance does is just replicate successful projects and try to make them better and they are successful in that as they have a monopoly over the market now as they are creating their own version of any new technology so that they can stay ahead in this market and make the profit. Everyone knows what they are doing but no one is bothered because everyone is looking after the profits they can make and until there is a major negative disruption in the market against these monopoly everyone will dance to their tune Cheesy

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Quote from: pedrillo0 on June 09, 2021, 02:27:17 PM

Binance coin is a very good alternative of speed and low cost of fees unlike Ethereum.
I could say that right now it is better than ETH, which is why De-Fi now gives it preference.
But ETH has a very large market to be in danger from Binance Coin, I think that when ETH 2.0 comes out this market will double, it will triple.
Let's hope to see what happens in the future...

Since you have mentioned that I would like to think that these two coins are like the analogy of a car company. Think of Ethereum as a Ferrari, high powered and luxurious like its expensive fees right now. The other is a high powered Mitsubishi EVO that can also pack a powerful punch. They both have supporters and many are also buying them, But you ask them all of course they will say that Ferrari is the high end. I think this is the best analogy I could give for comparing these two coins.

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Nada y Tú?

Binance coin is a very good alternative of speed and low cost of fees unlike Ethereum.
I could say that right now it is better than ETH, which is why De-Fi now gives it preference.
But ETH has a very large market to be in danger from Binance Coin, I think that when ETH 2.0 comes out this market will double, it will triple.
Let's hope to see what happens in the future...

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Quote from: masulum on June 09, 2021, 11:26:33 AM

If in terms of competition maybe BSC will never win with ETH, the popularity of ETH is also much higher than BSC. Here, we may not be able to compare the two in terms of popularity and use cases. But, we just need to make BSC an alternative to owning crypto. when ETH gas was like some time ago, we had BSC which had cheaper gas costs to continue trading to find early project that can giving us more profits.

For now it's far from comparing this coin to ETH, the success that ETH already achieved is still far, though who knows what future awaits to this project, there's always a good possibilities that the competition will continue to grow.

For now, we are enjoying the benefits for having BSC as a good alternatives especially when those time where ETH transaction fees are really high,

BSC serves as good venue for developers and traders who wanted to use chain that won't charge them a lot.

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Quote from: Dollar_Hunter on June 08, 2021, 10:43:17 AM

This is where the Binance Smart Chain is growing and it can't be separated from the support of the binance community,
Besides that, the low transaction fees make Binance Smart Chain very popular and probably won't stop there,
if you compare it with polka dots and polygons, of course Binance Smart Chain is far superior and everyone knows too

Yes, and that means that Binance Smart Chain only wins because there is a large community support so that its development can be very sharp, especially since the Binance exchange is also very popular so that their platform will also be quickly recognized by everyone in the crypto space.

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Binance smart chain are being used a lot now for lower transcation fees. The big support for BSC Chain is Binance Exchange. Because it is the largest exchanger. And as has been seen lately. The tokens of the BSC platform are being listed on Binance in the highest bid. on the other hand Pancakeswap have become much more popular. So now most of the tokens are being created on the bsc platform. So bnb will collide with ETH very soon

masulum

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hmph..

If in terms of competition maybe BSC will never win with ETH, the popularity of ETH is also much higher than BSC. Here, we may not be able to compare the two in terms of popularity and use cases. But, we just need to make BSC an alternative to owning crypto. when ETH gas was like some time ago, we had BSC which had cheaper gas costs to continue trading to find early project that can giving us more profits.

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BSC is just a copy of the Ethereum smart contracts, but with their own chain they can earn more with the fees while people create more Tokens. But I don't think it will replace ETH, in the end people who make a token with ETH could make a copy in the smart chain. Is really cheap to make a token and the problem of that is what will happen if people start cloning the tokens from one ETH smart contract to BSC, which will be the new kind of identity fraud.

In the end, its a Grady decision by Binance, and it only brings confusion to the tokens world.

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Quote from: Ndlongap Ndlongop on June 08, 2021, 10:02:39 AM

I didn't think that BNB could be like now, BNB's performance was too fast because of the support from their group (exchange), whether it will become a competitor to ETH, I'm not sure, ETH is already strong and has a lot of support from the platform.

We all know that eth has a strong platform and they have well established blockchain .Fact is that the transaction fee ,we have seen that the transaction fee has increased on the recent past that's why BSC has made a competition with eth .It is also true that BSC has developed well and the fee is less than eth chain .But at the recent time we have seen that the transaction fee of the eth is getting done and its become more popular once again.

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I did some basic research about the tokens in side the Binance Smart Chain and boy I was amazed on how many they are now. I am doing some bit on research though on some shit tokens there (sorry if the dev are offended, that's the general term) or maybe I call them cheap coins or cheap tokens. But I am trying to check which is viable to my investment. I am seeing SPORE but I have not researched that further to give myself a decision. Maybe use my money to eat at Burger King or buy some SPORE and wait for it to blossom.

mauriek

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ETH is still better than BNB. Because many coins use the ETH network. But nothing is impossible, BNB could just follow in the footsteps of ETH. Maybe one day BNB will go hand in hand with ETH. Because now many peopel using BNB it. In addition to cheap fees, the transaction process is also fast.And many other advantages such as being able to be used for easy farming and staking. And also for now many products use the BNB network.

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I think so, Binance is the next Ethereum. Lets see back price of ETH for about 6 years since created on 2015 until now, and let see too price of BNB that started traded on 2017. Both is similar, and BNB have room to surpass ETH according to market cap and total volume transaction. Development of BNB is not only about blockchain of smart contract but also others product related crypto, like CEX and DEX of Binance, NFT marketplace and others.

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Quote from: speedy963 on June 09, 2021, 12:05:05 AM

Comparing two coins should never he a thing since each one has their own uniqueness despite of some similarities. And while some may think that others may be a copy of another, that's just not true(read more about the reason why in google). In price though, binance truly is very undervalued. Specially polkadot. Even though these three coins are not exactly the same, the have quite the similarities. But investment wise, I'd put my money on bnb and polkadot but wont leave out ethereum. This is because both poladot and bnb have huge chances of giving much more profits than ethereum in the long run. Still though, Ethereum shouldn't be excluded from any portfolio for obvious reasons.

I strongly agree with your point, it is not necessary to make too many comparisons of the top platform coins. The things that many people say to compare the difference between them honestly, I don't understand what their thoughts and desires are for this market.
There are so many good things to choose from and if we don't like it, we should respect what it is doing to the market.

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Comparing two coins should never he a thing since each one has their own uniqueness despite of some similarities. And while some may think that others may be a copy of another, that's just not true(read more about the reason why in google). In price though, binance truly is very undervalued. Specially polkadot. Even though these three coins are not exactly the same, the have quite the similarities. But investment wise, I'd put my money on bnb and polkadot but wont leave out ethereum. This is because both poladot and bnb have huge chances of giving much more profits than ethereum in the long run. Still though, Ethereum shouldn't be excluded from any portfolio for obvious reasons.

Topic: Is Binance Smart Chain the "New Ethereum"? - page 7. (Read 3214 times)