Is Binance Chain a treat to Ethereum?

[odranoel]

For me, I think it is not healthy to discuss about the binance comparing to the ethereum, because binance is doing well and not affecting to the ethereum. This binance and ethereum are a good coin.

[jdarren]

two totally different use cases in my opinion. Binance chain will be strong but Etherum has the use of smart contracts

[Fumzy]

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.

Binance is a powerful asset and if overtime it poses a threat to Ethereum I won't be surprised now that it's launching it's own chain. Ethereum will have to put in some effort to stay relevant

[lobat999]

I think yes, because Binance has a currency plan and is always in a constant development as well as it has a good marketing therefore many of the public, but the Ethereum is no longer like the former but it remains one of the major currencies without no doubt , In any case we are beneficiaries, because the competition between them will be severe and we will get the advantages

Binance chain will never be a threat to Ethereum since both platforms have different features and has their own unique niche. Simply put, Ethereum supports smart contracts while Binance chain doesn't. With this in mind, crypto projects residing in Ethereum ecosystem that utilizes smart contracts technically cannot migrate to Binance chain unless otherwise Binance decides to upgrade to support smart contracts.

I'm not sure that Binance does not support smart contracts. But what about all the projects that migrate to Binance chain? They become tokens in this blockchain. So there is such a functional. But yes, it seems to me too early to talk about competition to Ethereum.

Here is a link to Binance CEO's AMA session specifically stating that Binance chain doesn't support smart contracts - https://www.cryptoglobe.com/latest/2019/03/binance-ceo-comments-on-delistings-launchpad-bnb-dex-and-xrp/  and another FAQ from their website for further info - https://docs.binance.org/faq.html#does-binance-chain-support-smart-contracts . And also, projects that have or will migrate to Binance dont have smart contract functionality so its just like ordinary tokens unlike other projects that rely heavily on smart contract on order to function well.

[Natalim]

two totally different use cases in my opinion. Binance chain will be strong but Etherum has the use of smart contracts

Binance could improve as they shift from token to coin, we will wait what they can offer at that time.
At this standing now, we can say that Binance have improve but what we like to see is the stability as we don't want to see it dump after a big pump.
These two coins are incredible, giving profit to their investors so I hope they will grow more, and they are not treat to each other as the market is so big.

[daarul50]

By building its own chain, Binance will become stronger as the largest crypto market with the largest volume in the world. However, people only use this news to inflate the BNB coins for a moment. After that, the price returned to stabilize. However, Binance has gone further to prepare for their future, and with this, it does not mean that ETH is in danger, but maybe ETH developers will look for the latest innovations.

[sachdientugoogle]

Dex is peer to peer token trades on chain. This Binance exchange appears to be all done on BNB chain, not settling, but ultimately paid out using Binance's pool of various assets. This is certainly not a dex

[filipe3x]

By building its own chain, Binance will become stronger as the largest crypto market with the largest volume in the world. However, people only use this news to inflate the BNB coins for a moment. After that, the price returned to stabilize. However, Binance has gone further to prepare for their future, and with this, it does not mean that ETH is in danger, but maybe ETH developers will look for the latest innovations.

Yes, Binance is building a whole ecosystem that will affect almost all aspects of cryptoworld. The only thing they don't have yet is probably mining)

[karagun125]

I think even if BNB would be as like as bitcoin it can never a treat to ethereum coin. My own understanding about this thread is that if BNB can be more succesful, it can elliminate the greatness of ethereum, well i think not. Because ethereum is introduced to many aspects as it is very popular and commonly use altcoin now although BNB has a great value and has a potential, still it is not a treat to ethereum coin.

[Fredomago]

By building its own chain, Binance will become stronger as the largest crypto market with the largest volume in the world. However, people only use this news to inflate the BNB coins for a moment. After that, the price returned to stabilize. However, Binance has gone further to prepare for their future, and with this, it does not mean that ETH is in danger, but maybe ETH developers will look for the latest innovations.

Yes, Binance is building a whole ecosystem that will affect almost all aspects of cryptoworld. The only thing they don't have yet is probably mining)

It will affect not only ETH but the entire ecosystem as they are bringing another chain that can attract more investors, we will witness new successful
assets so better to start owning this coin now and hold for some time, surely it will be hype and bring profits both for long and short term trades..

[rdewilde]

Although I still find it hard to believe or even assume that Binance chain will be a threat to Ethereum. Ethereum is already built and have passed through many stages thus having a huge community. Nevertheless, in every platform all that matters is constant improvement and upgrade, if Ethereum continues to improve it will always retain its position.

[pixie85]

It's not a threat because binance is only one company a vulnerable one. Binance lacks transparency and they are doing some semi legal things with tether you can never know how they'll turn up. Today it's all fine and tomorrow you get a notice they are shutting down because the government raided their office.

Ethereum is much more independent than something that Binance launches.

[chenille]

I don't think that Binance coin will endanger the position of Ethereum. Ethereum hast a completely different structure, a highly competitive functionality and use case. While the coin of Binance is always related to the platform and their crypto exchange, Ethereum is not related to anything.
If Binance should be hacked, the token of Binance will collapse in total while it's much more difficult to hack Ethereum becuase it has no centralized place that could be hacked.

It's not a threat because binance is only one company a vulnerable one. Binance lacks transparency and they are doing some semi legal things with tether you can never know how they'll turn up. Today it's all fine and tomorrow you get a notice they are shutting down because the government raided their office.

Ethereum is much more independent than something that Binance launches.

I can agree here, the structure is much more suitable for Ethereum.

[irixo10]

No it won't, each have their uniqueness and that's what maakes them or will make them stronger. But that didn't dispute the fact that Ethereum is king of altcoins and will take Binance Chain several upgrades and improvements to climb to No 2 (if at all it can).

[coinporch]

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.

well, i think binance chain is fully centralized mate, just like Ripple
in my opinion this binance chain will never beat or replacing ethereum, because thereum is fully decentralized my friend

[akungagal]

I don't think that Binance coin will endanger the position of Ethereum. Ethereum hast a completely different structure, a highly competitive functionality and use case. While the coin of Binance is always related to the platform and their crypto exchange, Ethereum is not related to anything.
If Binance should be hacked, the token of Binance will collapse in total while it's much more difficult to hack Ethereum becuase it has no centralized place that could be hacked.

absolutely right, ethereum will remain in its position.
indeed the increase in the price of binance is so surprising that many discuss and compare these two coins. binance is indeed very good, but the risk is too great.

as you explained "if Binance has to be hacked, Binance's token will collapse" it will be very scary. if i have to choose between the two i will still choose ethereum for the long term. binance is only another option as a short-term investment to collect profits in trading.

[Lizzylove1]

Innovation and competitions are key to the cryptocurrency ecosystem and not just projects offering same product over and over again. Binance chain is important to this community, it actually will post some challenges to the Eth network as more and more project will want to migrate to Binance chain. Nevertheless, because of Eth strong community and the popularity, I see it staying dominance over Binance.

[iqlimasyadiqa]

Innovation and competitions are key to the cryptocurrency ecosystem and not just projects offering same product over and over again. Binance chain is important to this community, it actually will post some challenges to the Eth network as more and more project will want to migrate to Binance chain. Nevertheless, because of Eth strong community and the popularity, I see it staying dominance over Binance.

Ethereum indeed will still be above binance. ethereum has a large and strong community, but binance also has enormous strength. so in the short term, ethereum will still be the best altcoin, but in the long run, I'm sure there will be a change. let's wait for what will happen next, the future belongs to the digital currency !!! everything will relate to digital currencies and so there will be various innovations.

[hongus]

It seems to me that you should not hurry. Write off the ETH with counts. Well, undoubtedly binsu will be one of the best coins. But because of the pump he possesses. But this is my opinion.

[novusordo]

It may seem so because of mass exodus of listed projects on Binance. The veritablity of the Binance Chain will be tested in the future on scalability, smart contracts which I doubt it can compete strongly on