Is Binance Chain a treat to Ethereum?

[0t3p0t]

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.

There are over 100 competitor for Ethereum. All of them wants to take over Ethereum place... And no one can make it until now.

I guess BNB can't take over also. Believe or not Ethereum is one of the decentralized network ever. So BNB won't be never. Always CZ can manipulate it. I think Binance is number one of this market but it is not about the network. It is about exchanges.

Still, everything is possible in this market. We will watch and see soon.

I like the way you gave an opinion mate because it is not one sided. For me it is too early to tell if Binance coin or BNB will take over Ethereum, why? Because as you have said there are hundreds or thousands of Altcoin competitors of Ethereum that has failed to take over due to Ethereum's strong community and there are a lot of developers that makes upgrades to the Ethereum platform. Ethereum was already accepted by some country's local exchanges and other merchants as mode of payment just like here in my country.

[boyz97]

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.

i think we should back to ethereum usage.many ico using ethereum platform meanwhile binance chain recently launched and we still understand about this usage for other projects.so in my opinion this is wrong if binance chain will defeat ethereum.

[sh4dtechnr]

I don’t think that binance chain be a treat to ethereum. With the support of the community and developers, the number of active users, the security and decentralization that the ether has, it’s like Google in the world of dApps. And I do not see a strong competitor for the ether now. Vitalik will win at the end like with 99% of probability.

[mmo_online_1981]

Binance Chain used for DEX exchange!
Can succeed or not, need more time to assert, But Etherium has been long-term development!

[Ailmand]

Despite launching a new coin, I believe that binance won't make something that would just compete with Ethereum. Ethereum has proven a lot and has passed a lot of tests to be on top so I think a new coin would never be a threat. Bnb has to undergo a lot of challenges to stand firm but I believe that it would have a good potential since it's supported by binance.

[Mrsparks]

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.

I don't see this being a treat to ethereum in any way.. People need to understand that the first of a kind in the crypto market are difficult to pull down.. Asides from automatically listing on binance. I don't see any other features the binance Chain has to offer..

[sctunter]

the CEO binance really ambitious. wanna make a competition again ethereum is really challenging. popularity from binance exchange won't said it wrong. biggest exchange right now
that gonna attrach more peoples for sure

[kindbtc]

No doubt binance is going places and everything what they are doing seems right and they token is doing exceptionally well as well but lets come to your question, well i think Eth has no serious threat from bnb as we have not seen any serious coin killing the other coin as claimed many times as every coin is unique and has its own community so i think eth has no threat.

[coco23]

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.

I also think so, at least for the very moment. Binance has grown big enough to get rid of undesired dependencies (ETH chain).
However, if the Binance chain runs stable they probably want to expand on it. It could become a huge thing if they do, as it is the first example of a profitable company actively using their own crypto. All other cryptos so far do not have a profitable company behind them!

[Barbut]

Many interesting comments here, I enjoyed reading. We must agree on some things, they are big! They are crazy big and they are rising. I dont like them so much, but this is a fact! They are very active in fulfilling their plans, they are doing something all the time. I think they will grow more, definitely! Are they a threat! For sure they are some kind of threat to all other projects, like always competition in crypto is getting harder and harder, that is good for us all!

[jan.nicolas]

If I remember correctly, then BNB is still on the ETH platform and this generally doesn’t prevent this project from developing, why should they make their own blockchain? It just doesn't make sense. Therefore, everything is fine.

[nikola22]

Binance Chain used for DEX exchange!
Can succeed or not, need more time to assert, But Etherium has been long-term development!

but Binance invite the projects to move to their chain from Ethereum and this fact can cause some problems for the Ethereum.

[cryptolidus]

BNB will become a top 3 coin in the near future. It brings value on the market and the fact that it is
increasing during a declining market speaks for itself.

[lobat999]

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.

At this early stage, I think Binance chain cannot yet overtake Ethereum in terms of adoption and robustness since the later is not yet tested by the public and I guess it would need more time for continuous development and testing to be at par with Ethereum and that will be evident once its released to the public. Also, Ethereum has achieved solid growth over this years and still becoming more stronger, thanks to its roster of developers and projects residing on its ecosystem which are very essential its success.

[wendelllee]

Yes. The market is not big enough now. More money invested to BNB then less money for ETH.

[Natalim]

Yes. The market is not big enough now. More money invested to BNB then less money for ETH.

They have similar supply which is over 100 million only, we can say that BNB is really successful this year so far.
ETH on the other hand is not performing well, after it dump to below $100, it only started to increase a little, but courtesy to bitcoin's pump.
I'm not certain that BNB might overtake ETH's success in the future, by it's likely to happen if ETH will not have a good development to show.

[Amalker]

Need to clearly understand, that Binance becomes no longer only exchange, it is becoming a complete blockchain platform with own DEX and BEP2 token standard. Price already past last USD ATH and will continue to grow. Many projects no need to have smart contracts and they will start to migrate on Binance chain and this part break away from ETH ecosystem.

[Perfect35]

The team of Binance have got great ideas and they are putting those ideas to work.
This is why I am not surprised to see BNB grow that much.
The Binance chain, might not yet be a threat to ethereum, but I see it making a lot of impacts, despite being centralized.
A lot of coins will be seen migrate to it, but it will not be able to accommodate all, which is where ethereum will continue to be relevant.

[bittamak]

Best code wins..Binance has showed that it can become top rated exchange in the world in no time. So, when they have necessary skills and right talent, they would come up with a chain to give tough competition to others like Ethereum

[green547]

I would never buy a single BNB coin, I do not trust binance and they will never compete with Ethereum.  Ehtereum does billions of trading volume each day and actually does more transactions than the bitcoin network. Its not even close.