Why binance chain?? | Bitcointalksearch.org

raven7886

legendary

Activity: 1512

Merit: 1041

Quote from: Kaneki11 on April 29, 2019, 08:07:15 AM

So many projects now leaving the ethereum network for binance chain,,...

I fear soon binance may just be a crypto monopoly
while CZ will be the one to point out project that will succed and project that will die out..

Do we really needs this??

If we talk about monopoly, I think ethereum is even the one monopolizing it, they would have also left it for bitcoin alone, ethereum came, built on BTC weakness to make blockchain better to operate, so I don’t think Binance should be picked on for doing so, they have simply seen the weak point of ethereum too that they need to develop on.

There is need for Binance chain, because ethereum has not completely resolve the issue of their slow transaction, I don’t know why they have been unable to resolve this but I believe it will be due to the large user database and number of transactions going through them, so they need more hands and Binance has chosen to be the helping hand.

FanEagle

legendary

Activity: 3066

Merit: 1129

Quote from: Kaneki11 on April 30, 2019, 11:03:41 PM

Quote from: Bitmagister on April 30, 2019, 04:20:08 PM

I also see with great suspicion the growing power binance seems to be accumulating, which is still a huge paradox in a cryptouniverse where one of the fundamental bases of this growing ecosystem is supposed to be decentralization. And so much power concentrated in a single exchange and a single person can not be absolutely good for anyone.

But I hope that with the opening of new and innovative exchanges can arise a serious competition for binance that, on the other hand, has earned the power and reliability that it holds today.

This is exactly my point I fear cz may just be the vilian soon.. You can't trust a one man with so much power.. in a centralized space.. even though I don't like self proclaimed satoshi nakamoto.. but still see what he did to Craig Wright's bsv

So what do we expect Binance to do, they should just fold their hands and not double their effort in making their company grow? Blockchain technology/ cryptocurrency is not being controlled by a general body that gave them the power to monopolize their operation, anyone is free to also follow the path of Binance and do what Binance is doing.

If anyone is threatened by the operation of Binance, then they should also stand up to the task and create their own chain too to break the monopoly, instead of bad mouthing innocent project that are just doing their work.

okan

full member

Activity: 644

Merit: 100

because cz gives really good decision about future plans.

for example ieo strategy. holding at least 50 binance. etc.
it will be one of the top5 coin until eof.

okala

full member

Activity: 980

Merit: 114

Quote from: Dennicex on May 02, 2019, 05:29:25 AM

Quote from: panukurap on May 02, 2019, 05:06:24 AM

I hear and read news for binance which is like going to monopolize crypto
I need an explanation with this in more detail, because I don't understand
maybe there are friends here who can explain it more simply so they are easy to understand

You're right. Binance is literally becoming a monopolist in the crypto industry. This is a threat to decentralization of cryptocurrency. This is more dangerous than Chinese mining farm.

How do you mean, CZ and the binance team are just doing they job as an exchange and chain developer's they have no right over any project in the crypto space and at that can not be a threat to decentralization after all binance is a beneficiary of decentralization.

Dennicex

jr. member

Activity: 393

Merit: 1

Coinsbit exchange

Quote from: panukurap on May 02, 2019, 05:06:24 AM

I hear and read news for binance which is like going to monopolize crypto
I need an explanation with this in more detail, because I don't understand
maybe there are friends here who can explain it more simply so they are easy to understand

You're right. Binance is literally becoming a monopolist in the crypto industry. This is a threat to decentralization of cryptocurrency. This is more dangerous than Chinese mining farm.

panukurap

full member

Activity: 486

Merit: 100

DAEFROM.com

Quote from: Kaneki11 on April 29, 2019, 08:07:15 AM

So many projects now leaving the ethereum network for binance chain,,...

I fear soon binance may just be a crypto monopoly
while CZ will be the one to point out project that will succed and project that will die out..

Do we really needs this??

I hear and read news for binance which is like going to monopolize crypto
I need an explanation with this in more detail, because I don't understand
maybe there are friends here who can explain it more simply so they are easy to understand

sana54210

legendary

Activity: 3346

Merit: 1128

Quote from: Kaneki11 on April 29, 2019, 08:07:15 AM

So many projects now leaving the ethereum network for binance chain,,...

I fear soon binance may just be a crypto monopoly
while CZ will be the one to point out project that will succed and project that will die out..

Do we really needs this??

Well one of the reason people are moving to binance chain is because of the hype binance have created write from time, I understand that the binance team right from time knows how the market works and since the onset have been taking advantage of it to make sure they maintain a status for themselves and they have been doing a very good job, we are still waiting for ethereum to come up with an upgrade that might be able to solve the problem of scalability on the blockchain, then people might move back to the ethereum chain.

ahmadinejad93

full member

Activity: 411

Merit: 100

Rome wasn’t built in a day, and Binance Chain wasn’t a technology that came into being overnight. As the Binance team explains, Binance Chain was the product of ‘extensive research and analysis’ of decentralised exchange frameworks and existing market research. Significantly, the company also stated its belief that the future won’t see us dealing with a centralised or decentralised monopoly in the crypto exchange market, rather both forms will co-exist complementing each other, but also having interdependence.

Kaneki11

jr. member

Activity: 209

Merit: 6

Quote from: Bitmagister on April 30, 2019, 04:20:08 PM

Quote from: Kaneki11 on April 29, 2019, 08:07:15 AM

So many projects now leaving the ethereum network for binance chain,,...

I fear soon binance may just be a crypto monopoly
while CZ will be the one to point out project that will succed and project that will die out..

Do we really needs this??

I also see with great suspicion the growing power binance seems to be accumulating, which is still a huge paradox in a cryptouniverse where one of the fundamental bases of this growing ecosystem is supposed to be decentralization. And so much power concentrated in a single exchange and a single person can not be absolutely good for anyone.

But I hope that with the opening of new and innovative exchanges can arise a serious competition for binance that, on the other hand, has earned the power and reliability that it holds today.

This is exactly my point I fear cz may just be the vilian soon.. You can't trust a one man with so much power.. in a centralized space.. even though I don't like self proclaimed satoshi nakamoto.. but still see what he did to Craig Wright's bsv

Endikadija

hero member

Activity: 1458

Merit: 509

Quote from: ?? on ??

We should focus as Binance coin, after complete great exchange now focus to blockchain. In future this blockchain could have good site.

That depends on your intention. Any blockchain has different specification and that's the point. not all of icos are required the same blockchain but they must try to search which one that meets their requirements.
various algo and consensus.

GospelCrypto2

jr. member

Activity: 86

Merit: 4

Quote from: Jating on April 29, 2019, 09:49:19 AM

I only heard that there are 4 projects who switches to Binance chain or at least used it (correct me If I'm wrong). So I don't think that is many, assuming that there are hundreds ICO right now and there are one born everyday.

And the only reason why they shift to Binance chain is that it is fast. So yes it has advantages but I don't think that ICO will totally moved to Binance chain for now. Might takes years if Binance chain has proven to be efficient, effective and cost wise, will save a lot of money for upcoming projects.

It's the binnce blockchain fully functional!.. How do we even attain that it's trully faster than conventional blockchain and has what it takes to handle a large volume of transactions?..
I think we should take it slow with the hype and see what the binance blockchain can offer because running a blockchain is a different ball game in contrast to an exchange..

Fammosh82

jr. member

Activity: 130

Merit: 1

The visible enthusiasm that Binance held when calling on coders to help them develop Binance Chain illustrates the perceived necessity of developing a coherent decentralised exchange in order to futureproof both the company and the security of crypto trading.

Bitmagister

member

Activity: 94

Merit: 19

Quote from: Kaneki11 on April 29, 2019, 08:07:15 AM

So many projects now leaving the ethereum network for binance chain,,...

I fear soon binance may just be a crypto monopoly
while CZ will be the one to point out project that will succed and project that will die out..

Do we really needs this??

I also see with great suspicion the growing power binance seems to be accumulating, which is still a huge paradox in a cryptouniverse where one of the fundamental bases of this growing ecosystem is supposed to be decentralization. And so much power concentrated in a single exchange and a single person can not be absolutely good for anyone.

But I hope that with the opening of new and innovative exchanges can arise a serious competition for binance that, on the other hand, has earned the power and reliability that it holds today.

Melo20

jr. member

Activity: 126

Merit: 2

Binance DEX is just the start of the advancements to the industry that Binance Chain can bring. Decentralisation not only helps to keep data more secure from hacking attempts but it also guarantees a more peer-based future for the markets. At its heart, both cryptocurrencies and blockchain should be free from centralised control.

magicrypto

copper member

Activity: 812

Merit: 6

I think that all that moves are just a marketing, everybody knows that nowadays most powerful projects in that industry are blockchains and of cource all of them have their own chains and mainnets, they dont need Binance chain.

rijaljun

sr. member

Activity: 1274

Merit: 267

Quote from: Kaneki11 on April 29, 2019, 08:07:15 AM

So many projects now leaving the ethereum network for binance chain,,...

I fear soon binance may just be a crypto monopoly
while CZ will be the one to point out project that will succed and project that will die out..

Do we really needs this??

Well, I think people always change their minds, their favors, and anything. Currently, people just love to use Binance that's why Binance take the chance and challenge the crypto industry to the next level.However, it can't be forever!

A monopoly? Don't you think that Bitcoin value on the market is controlled by some people and maybe from the government? Why don't you ask about it?

prof7bit

hero member

Activity: 938

Merit: 500

https://youengine.io/

Quote from: H1N1 on April 30, 2019, 02:20:29 AM

Quote from: Kaneki11 on April 29, 2019, 08:07:15 AM

So many projects now leaving the ethereum network for binance chain,,...

I fear soon binance may just be a crypto monopoly
while CZ will be the one to point out project that will succed and project that will die out..

Do we really needs this??

Maybe Binance developers want their chain to be used by new companies who want to list IEO in Binance.
If you want to listing IEO in Binance, you dont need to create ERC20 token in ethereum, Binance can make the token on their own chain.

This is a very important step in the development of Binance himself. I am confident in the great prospects of this coin and I am even now investing in this Altcoin.

H1N1

full member

Activity: 812

Merit: 100

Quote from: Kaneki11 on April 29, 2019, 08:07:15 AM

So many projects now leaving the ethereum network for binance chain,,...

I fear soon binance may just be a crypto monopoly
while CZ will be the one to point out project that will succed and project that will die out..

Do we really needs this??

Maybe Binance developers want their chain to be used by new companies who want to list IEO in Binance.
If you want to listing IEO in Binance, you dont need to create ERC20 token in ethereum, Binance can make the token on their own chain.

misterjo

member

Activity: 560

Merit: 10

I do not think it becomes a monopoly, we need binance, because currently decentralized exchanges do not have much volume and is one of the main problems for many investors and that is why they do not use it, it is expected that binance can bring

bangjoe

hero member

Activity: 1400

Merit: 674

honestly I don't really need it because there are already ethereum, bitcoin, NEO and EOS and I think that's enough but because binance is soaring the market is triggered to increase and I think this is important because in a crisis like this we really need a trigger so the market can recover and I think binance is one of the triggers so in the end I need binance not as a platform or anything but as a trigger or a change in state

Topic: Why binance chain?? (Read 456 times)