I'll never gonna leave ethirium, because it's decentralized instead of Binance. Also Vitalik Buterin is a great developer, i'm not gonna abandon him.
Actually, everyone will not leave Ethereum even though Gweinya is still very expensive at the moment, but some people who use other platforms do not mean they will completely abandon Ethereum, I believe it will only be temporary and when the Gwei Ethereum fees return to normal, all people will be using the Ethereum platform again as before. 
Topic: This is why i move to Binance Smart Chain (Read 263 times)
everyone's having the same problem. especially those users of the ethereum chain.
But when you move up the Binance smart chain and the assets you own aren't converting then what can you do with the assets you already own?
although you are currently moving into trading with the BSC. but I am sure that in the end you will still hold your ethereum assets in the wallet. selling it now will only waste your money if the value of the token you are selling is very cheap.
But when you move up the Binance smart chain and the assets you own aren't converting then what can you do with the assets you already own?
although you are currently moving into trading with the BSC. but I am sure that in the end you will still hold your ethereum assets in the wallet. selling it now will only waste your money if the value of the token you are selling is very cheap.
I guess this is is really a big blow to eth network. Paying fees like that in the long run is very expensive. I do hope ethereum has solution to the network fee cause if not, binance smart chain and other dexes will take over the lead and slowly eth will become useless.
I ain't sure the ETH team is ready to stop the exploitation going on in the guise of gas fee as long as investors keep patronizing ETH. It is really sad that the team is yet to learn a thing or two from the newer smart contracts springing up. It saddens me too whenever I have to buy into a project just to find out it's only on an ETH pair, especially on a DApp. I just give up on the project and move on, no matter how great I think the project is. It's that bad for me.The smaller the fee the bigger the project will be known. Take a look at BSC, they slowly pacing up and even surpassing the era of uniswap deals.
Uniswap has a throat slitting swap commission. I rather choose a project on the BSC DApp over it anytime any day. I guess that's what is giving Pancakeswap that popularity and growing its fan base. copper member
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I'll never gonna leave ethirium, because it's decentralized instead of Binance. Also Vitalik Buterin is a great developer, i'm not gonna abandon him.
Actually, everyone will not leave Ethereum even though Gweinya is still very expensive at the moment, but some people who use other platforms do not mean they will completely abandon Ethereum, I believe it will only be temporary and when the Gwei Ethereum fees return to normal, all people will be using the Ethereum platform again as before.Transaction fee is the main concern on using Ethereum blockchain Right Now and some project are starting to migrate from Ethereum to BSC just dodge the high transaction fee especially for those DEX that has tons of transaction fee per day. Solving this Scalability issue on ETH is still not guarantee on there upgrade while BSC is performing well in terms of TPS.
In the current conditions, it will not be possible to completely switch to the Binance Smart Chain, because most coins use the ethereum blockchain. This could become a reality if ALL coins switched to the BSC blockchain, but we understand that this will never happen.
After reading posts in this topic I came to a conclusion, that Binance Smart Chain is better than Ethereum blockchain only due to Ethereum network high fees. Is that it? High fees is the only reason? Tron, Litecoin, Stellar have low fees also. But there is no hysteria to migrate everything there. Why?
As far as i know now BSC is compliant with ethereum network and the users didn't even need to create a new wallet again but the smartcontract users must issue a new smartcontract again and i think this feature was the reason why BSC getting hyped. People just need to setting RPC on their wallet like metamask or portis to be connected with BSC. I'm sure that low fees on BSC is not the only reason; there must be something else, unknown to me. Just imagine the situation Ethereum fees goes back to what they were in 2017/2018. Would users immediately go back and forget BSC?
Beside the low fees that offered by BSC and the community support, possibility to be listed on binance should become another reason why some people and developers migrate to the BSCI don't even think they will be going back again to the ethereum easily.
After reading posts in this topic I came to a conclusion, that Binance Smart Chain is better than Ethereum blockchain only due to Ethereum network high fees. Is that it? High fees is the only reason? Tron, Litecoin, Stellar have low fees also. But there is no hysteria to migrate everything there. Why?
I'm sure that low fees on BSC is not the only reason; there must be something else, unknown to me. Just imagine the situation Ethereum fees goes back to what they were in 2017/2018. Would users immediately go back and forget BSC?
I'm sure that low fees on BSC is not the only reason; there must be something else, unknown to me. Just imagine the situation Ethereum fees goes back to what they were in 2017/2018. Would users immediately go back and forget BSC?
I haven't used the ETH network since the start of the year and moved to the BSC network for the exact reason being the high gas costs. Moreover, many BSC projects have started and can choose to invest there. And in the end it is the users who will decide who wins between Ethereum or the Binance Smart Chain.
The users will use what that will make the feel better than before. The majority of tokens were build in ethereum and that will make BSC is a bit difficult to compete with ethereum.
There are lots of platforms already migrated into the BSC but again mostly major platforms didn't wanna do that consider it already built big community on ethereum platform.
The small traders may follow you to use BSC as an alternative way to trade rather than ethereum or uni
The gas gees charged on binance smart chain is the major reason why I love it. Although, other reasons may be observed as I progressively utilize the platform but for now, I have only observed the less gas fees, although its not the cheapest in all blockchsins but considering the number of projects on it
Have used BSC network several times and the fees are really economical as compared to eth. Now, more and more people are discovering this network, they will be soon a go-to network among crypto users. And the thing is, it is under Binance which has good reputation in the community. So eth platform should fast track their developments, otherwise, a lot of people will switch to BSC for good. Even developers are going to BSC as I have seen several projects that are now using BSC.
The gas gees charged on binance smart chain is the major reason why I love it. Although, other reasons may be observed as I progressively utilize the platform but for now, I have only observed the less gas fees, although its not the cheapest in all blockchsins but considering the number of projects on it
And this is why many developer and project move their project or make another token on BSC, the fees can not be reduced, especially if it listed on dex like uniswap, you will pay high fees plus double fees Token - WETH - ETH or vise versa. I hope eth 2.0 will launch soon.
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28 usd is quite cheap compared to what I've personally experienced with fees on the Ethereum blockchain so far, I also stopped transacting on the platform, there are many erc20 tokens I wish to sell on uniswap but can't cus the fees are way much higher than the proceed I will get from the sell, I have dego NFTs on the Ethereum blockchain which I wanted to sell and convert to dego NFTs on binance chain but can't due to fees running as high as $1200 dollars last time I checked, just to withdraw all my dego minning NFTs from the dego minning platform, I can't afford that amount for just a fee, so now, my NFTs are stuck there until God knows when the ever will ever return back to normal again, and this is something I spent hundreds of dollars buying.
Thats the sad truth Mate, And I'm wondering why Ethereum developers permit that to happen, and they just let those greedy miners becoming the boss and dictate the transaction fee cost, why I am saying this because they don't entertain those lower Gwie transaction fees until they were rejected by the system I believe that the Ethereum Network was already corrupted thats why I'm also moving to Binance Smart Chain to save some of my money from those abusive Ethereum Network fees.
It’s really hard to survive in eth or erc-20. The swap cost of uniswap is too high. BSC is good from this side. I noticed about BSC project Every week. Too much people start moving to BSC, The main resone of it is gas fees.
I'll never gonna leave ethirium, because it's decentralized instead of Binance. Also Vitalik Buterin is a great developer, i'm not gonna abandon him.
Earlier we see sometimes less gas fee to do the transaction on the Ethereum network but nowadays picture is totally changed most of the time Gas fee remains high. As a small trader for transaction on the Ethereum network I need to wait because I can not waste my money paying a huge gas fee so keeping this in mind I also want to move to BSC based coins even nowadays many new projects are opting for BSC instead of Erc-20 and Ethereum dev should take this thing seriously otherwise BNB will grow much faster than Ethereeum in future. Current high gas fees is a big opportunity for BSC to attract new projects on their platform.
Most people have indeed moved from ERC20 to BEP20 due to fee issues. But you don't need to worry because this won't last long, July-August this year the price of ETH gas is back cheap.
You should read the latest news about that. There would be another drama and this is the battle between miners against developers and community who wanna see the gas fees to be fixed.The miners didn't let the developers and community fix the problem and they are acting against the proposal that already published by ethereum core developers.
That means if the implementation will be delayed until there will be a real solution about which EIP will be implemented.
True, the fee is unbearable but the devs said they gonna get it fixed around july but to be honest, ETH developers have the track record of delaying things so can't be so sure, it's just best to move over to BSC at this point, doesn't make sense at all. sending eth already takes that much fee not to mention erc-20 that requires more gas.
Well, they have a planned algorithm update from current POW to POS. I am not sure how did you get a timeline for this but I am not sure if it will happen in July to be honest! All I know is that they have it in pipeline, a trial run has started and many people have already locked their ETHs in the chain to mine, but public relase has been delayed.
Let's hope for the best that it happens early because ETH fees is just pain in the ass. Unfortunately, there is no quick solution!
Moving to Binance Chain wouldn't be a problem if only the developers of the other coins move too but unfortunately, it's really unlikely to happen. I'm sure a lot of investors are willing to move to Binance too if only those DeFi projects supports them.
This is getting out of hand to be honest.
This is getting out of hand to be honest.
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