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icalical
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April 19, 2019, 11:45:01 AM |
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I don't think it will give any treat to ethereum, not even close. Binance might got their hands on the IEO, but that's only because their trading platform has a lot of users. The thing is, the Binance Chain will target mostly developers, and traders and developers are very different community. Ethereum has made a very friendly platform for developers since it is decentralized, stable, and scalability is great. The Binance Chain on the other hand, I believe it will be centralized and that's already not good.
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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mu_enrico
Copper Member
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Slots Enthusiast & Expert
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April 19, 2019, 11:45:29 AM |
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As a public blockchain, Binance Chain will mainly focus on the transfer and trading of blockchain assets, as well as provide new possibilities for the future flow of blockchain assets. Binance Chain will focus on performance, ease-of-use, and liquidity. Binance Coin (BNB) will be upgraded to exist on its own blockchain mainnet, becoming a native coin. At the same time, Binance will transition from being a company to a community. Source: https://support.binance.com/hc/en-us/articles/360001668872-Binance-Chain-Cryptocurrency-ExchangeETH and Binance have different use case as stated above. Binance chain is a chain for trading, while ETH is a dApps platform. Interesting to see what " transition from being a company to a community" really means. IMO it's a centralized chain like EOS but with a fewer use case. |
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Adriano2010
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April 19, 2019, 07:33:08 PM |
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Maybe yes or no, i think all depends on what majority of people decide, to use Ethereum or Binance chain or both to hold ERC20 tokens and transfer them.
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shendy
Full Member
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https://i.imgur.com/BBmstUL.jpg
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April 19, 2019, 07:44:03 PM |
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No, I don't think so, until now ethereum is still the best coin crypto number two after bitcoin and binance have not been able to outperform it and certainly they have their advantages or advantages
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fuathan
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April 19, 2019, 08:44:36 PM |
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Binance has been doing great even in the bear season to protect the crypto world by making lots of cool moves (successful ICOs, improving their infrastructure, supporting start-ups, etc.). However, there is no question they are dominating the crypto world. Dominating the market is not a good thing as we are aiming to have a decentralized world.
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Chmel
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April 19, 2019, 08:55:20 PM |
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just hype, and the opportunity to earn easy money, I think need to use this only for earn money on pump, when release announcement partnership with another coins
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Melo20
Jr. Member
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Activity: 126
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April 19, 2019, 09:25:24 PM |
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As part of the pivot, holders of Binance Coin (BNB), which is presently an ERC20 token hosted on the Ethereum network, will participate in a mainnet swap that will see their tokens shifted to the new BEP2 token standard of Binance Chain. Which is for me a big threat to ethereum.
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Necroface
Full Member
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Activity: 518
Merit: 102
simply getting the job done
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April 19, 2019, 09:48:41 PM |
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no need to discuss that binance is good or not but anyway ethereum is a different one, some coins have a good and different places in the market. bitcoin, ethereum, binance, monero etc.
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Dreamchaser21
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April 19, 2019, 09:55:27 PM |
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Maybe yes or no, i think all depends on what majority of people decide, to use Ethereum or Binance chain or both to hold ERC20 tokens and transfer them.
Its hard to say this one right now since this is just a rumor, but if binance make a good development like this, then this is a big challenge for ETH to do better also. Its not easy to defeat the number 2 coin right now, but we must open for this possibilities and continue to invest on the right coins. |
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Shenzou
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April 19, 2019, 09:59:34 PM |
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Even if binance turns out to be a very good investment and a successful one, it is still not a threat to etehreum because both of them have totally different concepts and different use in different situations, etehreum has smart contracts and binance is for exchanging, but it is a sure thing that binance is very popular and will provide good profit for those who will invest in it, since there is so much support from the community for it.
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Chmel
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April 19, 2019, 09:59:45 PM |
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Maybe yes or no, i think all depends on what majority of people decide, to use Ethereum or Binance chain or both to hold ERC20 tokens and transfer them.
Its hard to say this one right now since this is just a rumor, but if binance make a good development like this, then this is a big challenge for ETH to do better also. Its not easy to defeat the number 2 coin right now, but we must open for this possibilities and continue to invest on the right coins. binance coin good coin but price higher then ETH, maybe its too late to buy this coin? if eth better why price lower ? |
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Woodie
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April 19, 2019, 10:03:31 PM |
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It is no longer news that Binance is launching their own chain on the 23rd of April, 2019. All BNB holders can convert their ERC 20 to Binance Chain and MITH has announce to be the first to migrate to Binance Chain and pumped 60% overnight. Is Binance Chain decentralized or semi-decentrilized considering that they will be in control of their chain network. With the lack of smart contract, are they really pulling any challenge to ETH? Well. If the purpose is for crowdfunding and the possibility of getting listed, BNB might receive a lot of attention. In my own opinion, Binance Team is setting the pace for other exchanges and they are doing really well.
What BINANCE CHAIN, didn't see this one coming. The confirms binance is definitely sealing the deal of becoming the biggest exchange worldwide with all these supporting services and they are already seen to be the best, just hope they won't monopolize the crypto economy. |
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CryptoKush
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April 19, 2019, 10:06:57 PM |
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I do not think that Binance Chain is a competitor for Ethereum. This is very different platforms that have different functionality and different levels of decentralization. I do not think that Binance Chain can replace Ethereum.
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MonsterV
Legendary
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Activity: 2212
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April 19, 2019, 10:11:03 PM |
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These weeks there are a lot of people discussing binary exchanges, previously the issues raised were binance working with CipherTrace to improve security and now binance changed their coin system from ERC20 to Binance Chain.
In my opinion it is all a good step for binance in developing their exchanges, they want their exchange to be more effective and useful for its users. So just wait for the good steps that binance does next.
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ataki
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April 19, 2019, 10:23:38 PM |
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Binance mainnet will have effect on ETH platform in terms of the user base as some projects will go for it instead for ETH in return to having some benefits. In terms of technology I do not think it will effect ETH as Binance is launching a centralized platform. Binance is building an ecosystem and the mainnet is an important part of it.
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giletto
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April 19, 2019, 11:08:58 PM |
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It is no longer news that Binance is launching their own chain on the 23rd of April, 2019. All BNB holders can convert their ERC 20 to Binance Chain and MITH has announce to be the first to migrate to Binance Chain and pumped 60% overnight. Is Binance Chain decentralized or semi-decentrilized considering that they will be in control of their chain network. With the lack of smart contract, are they really pulling any challenge to ETH? Well. If the purpose is for crowdfunding and the possibility of getting listed, BNB might receive a lot of attention. In my own opinion, Binance Team is setting the pace for other exchanges and they are doing really well.
The second biggest Chain migration since EOS. I think CZ, Binance and the team are a bit underestimated. Binance controls a larger percentage of cryptocurrency market, advancing technology, great support and innovative. Even Vitalik will admit that Changpeng Zhao Binance is a threat |
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hiburak
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April 19, 2019, 11:23:51 PM |
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Binance Chain is an asset exchange platform similar to Waves and Bitshares. I don't think it will ever become a threat to Ethereum.
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shinharu10282016
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April 19, 2019, 11:28:26 PM |
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Binance Chain is an asset exchange platform similar to Waves and Bitshares. I don't think it will ever become a threat to Ethereum.
I think this is the case too. But we should never stop thinking they could challenge Ethereum. What can BNB Chain do that Ethereum can't? Better transaction speed? Anonymity? Do they have smart contracts like Ethereum has? All I can think is that Binance Chain just want its own blockchain to monitor its own coin. CZ is probably thinking of stopping relying on others and make use of his own. NEM and NEO, both Chinese coins has their own chain explorers as well. So it is not that much of a surprise if you ask me. |
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Judge-Dredd
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CryptoTalk.Org - Get Paid for every Post!
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April 19, 2019, 11:30:57 PM |
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I think this is more for funding purposes as opposed to utility. They want their money.
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FaucetKING
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C U
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April 19, 2019, 11:33:29 PM |
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I only heard that binance has already sucessfully launched the new chain. I think that binance could easily take Ethereum down and reach it's precious place in the 2nd listing globally if binance's CEO does pick up the right choices  We don't hope to see some fights, we only need a clean competition between ETH and BNB. |
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