Which is better: Ethereum or the Binance Smart Chain? - page 12.

btcltcdigger

hero member

Activity: 2086

Merit: 761

To boldly go where no rabbit has gone before...

Quote from: TheBitcoineers on March 30, 2021, 03:25:20 PM

Which is a better platform? Ethereum or the Binance Smart Chain? Please explain why.

BY ANSWERING THIS QUESTION, YOU ALLOW US TO USE YOUR RESPONSES IN AN ARTICLE ON GOLDPUNDIT.COM ON THIS SUBJECT. WE WILL CREDIT YOUR USERNAME. YOU CAN OPT OUT OF US POSSIBLY USING YOUR RESPONSE BY WRITING 'NO' AT THE BEGINNING OF YOUR RESPONSE. Thank you.
'

Lets just say why BSC is bad;
It's heavily centralized and controlled by Binance.
It's small fee's enable many more low level scams to be done, and are done on a daily basis.
70% of BSC transactions are fake

masterrex

full member

Activity: 1820

Merit: 107

Quote from: Farma on May 21, 2021, 06:46:24 AM

Quote from: adekogbe on May 20, 2021, 04:42:54 PM

Binance smart chain, is a very good project and the fact that it came years after the invention of ETH means that Binance smart chain team has a benefit of seeing the flaws in the ethereum blockchain and they were able to ensure that BSC doesn't carry the same flaws

Well, we know that many developers are currently choosing BSC compared to ERC20, that's because there are quite a lot of benefits gained from choosing a BSC such as maybe being able to list on Binance's DEX, or a cheap fee. however, currently the recommended choice for developers is BSC. however, there are also many advantages that the ERC20 has for now. however, currently I still tend to choose BSC.

I agree with this reasoning, the benefits of choosing BSC rather than Ethereum are important to many projects, It's not just about cheaper transaction fees, but also to have any chances to list on Binance DEX or maybe in the main Binance exchange. My position is I don't care if it was decentralized or centralized all I care about is the friendly service like cheaper fees and faster transaction speed, But if the Ethereum Network will be fix those problems I will return to Ethereum because I was using it since 2015 a sort of loyalty to an old platform.

zonefloor

hero member

Activity: 1876

Merit: 524

Your choice will always be in favor of the ethereum smart chain. However, when I factor in the transaction fees, it now makes more sense to use the binance smart chain. However, taking into account token issuance costs and transaction fees, fraudulent activity in the ethereum smart chain network has been minimized. Because the cost of trading on uniswap has reached $ 400. As a result, when the costs increased, the token issuance was priced. On the other hand, I think that the pancake platform should be paid attention because it can be processed with less cost and less transaction fee. Therefore, when choosing the ethereum smart chain, my choice is binance smart chain due to transaction fees.

Farma

legendary

Activity: 2492

Merit: 1001

Leading Crypto Sports Betting & Casino Platform

Quote from: adekogbe on May 20, 2021, 04:42:54 PM

Binance smart chain, is a very good project and the fact that it came years after the invention of ETH means that Binance smart chain team has a benefit of seeing the flaws in the ethereum blockchain and they were able to ensure that BSC doesn't carry the same flaws

Well, we know that many developers are currently choosing BSC compared to ERC20, that's because there are quite a lot of benefits gained from choosing a BSC such as maybe being able to list on Binance's DEX, or a cheap fee. however, currently the recommended choice for developers is BSC. however, there are also many advantages that the ERC20 has for now. however, currently I still tend to choose BSC.

bison

full member

Activity: 778

Merit: 100

SmartFi - EARN, LEND & TRADE

for now, the adoption of the BSC is probably greater than that of the ERC. but the current situation seems to remind us of what happened to the ERC a few years ago when it gained popularity with the ICO.
lots of new projects that use ERC which makes ETH experience a big increase. but then it was destroyed when more and more scam tokens were born and deceived people.
I hope the BSC will get better, although for now, we can see how scammers make their BSC tokens easily and make their own airdrops.

Himalayacoin007

jr. member

Activity: 66

Merit: 1

Do the recent opportunity from the difference blockchain. There are so many competitors we have to minimize the transaction cost. Now I'm using Tether TRC-20 tokens but BUSD transaction costs are also low. But here both are centralized where DAI is better. If you have one option, then you can use Tether on Tron blockchain.

adekogbe

member

Activity: 854

Merit: 21

Binance smart chain, is a very good project and the fact that it came years after the invention of ETH means that Binance smart chain team has a benefit of seeing the flaws in the ethereum blockchain and they were able to ensure that BSC doesn't carry the same flaws

JeffBrad12

hero member

Activity: 2996

Merit: 536

Leading Crypto Sports Betting & Casino Platform

Quote from: ?? on ??

I think why BSC is better today is because of the cost.

That's the main reason why people are choosing BSC over ethereum but these days the transaction cost on ethereum is also decreasing very hard. That means if less people were being crazy to trade on ethereum network use the non sense fees.
If the fees of ethereum and binance can be the same and then binance will be facing a very big problem.
The transaction fees are the main reason why people have been migrating from ethereum to the BSC.

chakhigh

member

Activity: 616

Merit: 10

FRX: Ferocious Alpha

Personally, I do prefer BSC for its cheaper fees compared to ETH. This doesn't mean Ethereum will not be improved in the coming months/years time.

Apart from that, BSC can be adopted by more swapping projects, like the upcoming mocktail.finance, which makes it even more profitable in the long run. I think only time will reveal the real value of BSC or Eth.

ogundowotoby01

jr. member

Activity: 117

Merit: 5

I believe they are both very good projects and they complement themselves. Recently a lot of project are rushing to use the Binance smart chain because of the low gas fee it offers. But don't forget that Binance smart chain is not fully decentralized and is still hosted on the Ethereum blockchain.

Twinkledoe

full member

Activity: 1904

Merit: 138

★Bitvest.io★ Play Plinko or Invest!

Quote from: Vaculin on May 19, 2021, 06:08:34 PM

Quote from: kevindjunaidi on May 19, 2021, 03:07:48 PM

For now I prefer Binance Smart Chain (BSC), because gas fees from Binance Smart Chain (BSC) are cheaper than Ethereum and transaction speed using Binance Smart Chain (BSC) is also very fast (same as Ethereum), that's why I prefer Binance Smart Chain (BSC) for current transactions, unless the gas fees from Ethereum are back to normal or become low, then I will definitely use Ethereum again, because I'm actually used to transacting using Ethereum network, but because the gas fees from Ethereum is very high for now, therefore I am not using Ethereum for my current transactions anymore and prefer to use Binance Smart Chain (BSC) at this time.

But I think as the market will be in bear season, ETH fees will also have to change and I'd never been hopeless seeing this back again. So if we can see people are currently using BSC just to save the cost but as you have said when the fees back to normal, yeah, these people will get back to ETH. I believe this was the best choice, Ethereum has been proven and trusted for so long, and I think we can't easily give up just because of the fees, coz if we are talking about a long-term investment, ETH is always on the top among altcoins.

ETH platform is definitely one of the solid projects in the crypto space. However, right now, people are going to BSC network because of cheaper fees aside from the fact that it is under Binance platform, which is a reputable and top crypto-exchange. But when ETH gas fees return to normal or at least comparable with BSC, I believe, people will restore their loyalty. Both networks are important and they cater different users, so for me, both are needed in this crypto ecosystem. Both have pros and cons, so it depends on the user how he will use both networks to his advantage.

Vaculin

hero member

Activity: 2940

Merit: 613

Winding down.

Quote from: kevindjunaidi on May 19, 2021, 03:07:48 PM

For now I prefer Binance Smart Chain (BSC), because gas fees from Binance Smart Chain (BSC) are cheaper than Ethereum and transaction speed using Binance Smart Chain (BSC) is also very fast (same as Ethereum), that's why I prefer Binance Smart Chain (BSC) for current transactions, unless the gas fees from Ethereum are back to normal or become low, then I will definitely use Ethereum again, because I'm actually used to transacting using Ethereum network, but because the gas fees from Ethereum is very high for now, therefore I am not using Ethereum for my current transactions anymore and prefer to use Binance Smart Chain (BSC) at this time.

But I think as the market will be in bear season, ETH fees will also have to change and I'd never been hopeless seeing this back again. So if we can see people are currently using BSC just to save the cost but as you have said when the fees back to normal, yeah, these people will get back to ETH. I believe this was the best choice, Ethereum has been proven and trusted for so long, and I think we can't easily give up just because of the fees, coz if we are talking about a long-term investment, ETH is always on the top among altcoins.

oscarftw

sr. member

Activity: 573

Merit: 250

Quote from: bitkanu on May 19, 2021, 01:32:20 AM

Quote from: fileo on May 18, 2021, 10:14:07 PM

I will pick Binance smart Chain.

The only thing that can be denied if BSC is far cheaper than ethereum. even when there are no lots of transactions in ethereum network and the fees will much cheaper than ethereum. BSC is far better than ethereum.
BSC already surpassed ethereum in term of usability and technical specification.

Even though we should support ETH blockchain, of course after the transaction costs down. Now almost 60-70 percent of new projects are choosing BSC network instead of Ethereum. I will use ETH blockchain because I don't see any difference in BSC. I will fully support BSC, if BSC develops on a totally different platform because I don't like copied ideas.

kevindjunaidi

full member

Activity: 826

Merit: 104

👉bit.ly/3QXp3oh | 🔥 Ultimate Launc

For now I prefer Binance Smart Chain (BSC), because gas fees from Binance Smart Chain (BSC) are cheaper than Ethereum and transaction speed using Binance Smart Chain (BSC) is also very fast (same as Ethereum), that's why I prefer Binance Smart Chain (BSC) for current transactions, unless the gas fees from Ethereum are back to normal or become low, then I will definitely use Ethereum again, because I'm actually used to transacting using Ethereum network, but because the gas fees from Ethereum is very high for now, therefore I am not using Ethereum for my current transactions anymore and prefer to use Binance Smart Chain (BSC) at this time.

DarkDays

legendary

Activity: 2030

Merit: 1189

Quote from: Ekyfitri on May 18, 2021, 07:13:56 PM

Quote from: Kez1817 on May 18, 2021, 07:00:15 PM

In terms of gas fee, BSC is now better than Ethereum but if you talk about investing, then I think both Ethereum and BSC are better coins to choose to invest as long as you have capital. I use BSC now as an alternative in making transactions because sometimes I can't carry the higher gas fee of Ethereum but I will not stop investing in Ethereum because I believe one day the transaction fee of Ethereum will going back to a normal lower gas fee.

but for a trader, BSC is a solution to still get maximum profit at a lower cost. but for investment, I think ethereum with tokens on the ethereum network is still good for us to save.

I agree, the answer really depends on which side you're on, the investor side or the trader side. For investors ETH is better because of the future value given the ETH v2.0 is developing making the whole blockchain more efficient than it currently is, but as a trader BNB has advantages due to the low fees.

BNB can also be attractive as an investor since a lot of projects are now launching on BSC. So, the options are there you just need to decide which coin works best for you.

Samurai trieng

member

Activity: 1060

Merit: 11

I think these two altcoins have their respective advantages, because these two altcoins have bright prospects in the future, it is true that currently the price of the etherem is much higher than the binance, but because the binance has very low transaction fees, the binance is a very good choice when this,

bitkanu

hero member

Activity: 2184

Merit: 513

Moonbet.io | Web3 Casino

Quote from: fileo on May 18, 2021, 10:14:07 PM

I will pick Binance smart Chain.

The only thing that can be denied if BSC is far cheaper than ethereum. even when there are no lots of transactions in ethereum network and the fees will much cheaper than ethereum. BSC is far better than ethereum.
BSC already surpassed ethereum in term of usability and technical specification.

wajik-tempe

sr. member

Activity: 1022

Merit: 252

Ethereum is backed up with strong and big communities, many erc-20 tokens that already big, still promising future because ETH is growing big lately.
BSC is new and backed up with binance (top exchange), low fees, the coins are great there are no fake projects, and also promising future.
Both are good to invest, me personally invest in both. BSC is new and low fees that's why many people are moving, but i think ETH is still good for long term

Godwinpaul

jr. member

Activity: 276

Merit: 1

If I'm to decide which option to use for processing transactions, I'll go for binance smart chain as the transaction fee is much more affordable. The binance smart chain is growing speedily as several new projects are building on the smart chain. Ethereum is still the big boss and it's place can't be replaced in the cryptocurrency space.

wayaneka

full member

Activity: 644

Merit: 101

For a while, I never stored ETH or ERC20 Token on personal wallet and never trade on DEX that use Ethereum blockchain because reason of high transaction fee. I dont want to pay like 10% fee only for sending or swap token. Not only BSC that have lower transaction fee but there are alot of others smart contract platform that started to grow like Solana, Avalanche and Polygon. I avoid high fee because I want to make more money. If ETH does not solve the problem of high transaction fee as soon as possible, more user will left it and move to another.

Topic: Which is better: Ethereum or the Binance Smart Chain? - page 12. (Read 2857 times)