ETH and BSC

[plexasm]

It defintely will crash and burn. Okay at least crash an never revisit those highs, remeber that we have has similar situations with bitcoin cash and btc.. the eth fees will go down and the bsc will lose its relavency.

For as long as Binance stays relevant, BSC will be relevant. BSC has nonstop free advertising on every page of the biggest crypto exchange in the world.

[1713447132]

1713447132

[RussianEnglishTranslation]

One of the reasons why binance smart chain becomes this big right now is because ethereum gas fee is very high and this force some projects to switch to BSC but what do you think will happen once ethereum gas fee goes lower in near few months? Will BSC faced same fate as binance DEX? Or BSC will remain the better option over ethereum?

BSC released when it did because Binance saw an opening to take part of Ethereum's market. Ethereum is implementing EIPs to reduce gas fees and will likely remain the king. BSC will stick around for sure though, sidechains and L2 will be required to help Ethereum scale to a world computer.

[nicecrypto]

BSC is winning in my opinion
They currently surpass ETH in the two aspects that really matters to most crypto users which is speed of transactions and also low transaction fees.
I really like eth and i believe it is still the best cryptocurrency out there, but a solution needs to be found for theses issues that the Blockchain is having.

I believe both Ethereum and BSC are great it is just an unfortunate issue with the Ethereum gas fees and Binance Smart Chain happens to take advantage of that and that has really boosted other projects coming to BSC too but I believe Etherueum will remain and hopefully resolve the fee issue but BSC is already steady in its position and will continue to do so.   

[Bitbtc8]

I will leave anything BSC vs ETH out right now until ETH fixed it's high gas fee then it will be next for developers to start making their choices wisely and anyone that triumph from this point onward is the best, but nothing can erase the fact that ETH is the king of all altcoins and smart contract platform, it will still remain a good option for upcoming projects

[Farma]

I will leave anything BSC vs ETH out right now until ETH fixed it's high gas fee then it will be next for developers to start making their choices wisely and anyone that triumph from this point onward is the best, but nothing can erase the fact that ETH is the king of all altcoins and smart contract platform, it will still remain a good option for upcoming projects

you are right. despite the high fees, I will probably still choose eth for all transactions, or coins. however, for now, if BSC is able to attract all the developers to develop coins on that platform, and has a positive impact, sooner or later, I might look to BSC coins because of their huge potential.

[bittick]

It defintely will crash and burn. Okay at least crash an never revisit those highs, remeber that we have has similar situations with bitcoin cash and btc.. the eth fees will go down and the bsc will lose its relavency.

It seems that the BSC will not just disappear when ETH costs have decreased and stabilized at a low rate, because they are basically on a different path so that investors and new project developers can make the choice of which one they will choose for their business.

I think so too, BSC has been building its own ecosystem this past year quite well so many dapps released in there and also defi but you see the main reason why people switching over to BSC because the whole blockchain was meant to be alternative and it's not impossible that many people gonna go back again.
Though, never underestimate the power of an exchange that dominates like crypto market around the world, they could make a project that was initially not popular become so popular it got pumped thousands of percent once gets out to public and available for trade, pretty sure they can keep BSC alive aswell.

[Noruka]

I think binance smart chain will continue to grow rapidly in a very fast time because so many people are starting to use it, the binance smart chain community is now also quite large

Yes, and people who have switched from the Ethereum network to the Binance Smart Chain have also helped themselves a lot in terms of providing their transaction fees when they need it, so usage of the Binance Smart Chain will increase over time as new project developers have also using the Binance Smart Chain network at the moment.

much more convenient than bsc, I use and cannot get enough of the commissions for transactions and their speed. I also liked the HT chain, which is also fast, cheap and convenient.

The HT Chain is also only  fast, cheap and convenientas long as there is little traffic/transactions on the chain. Ethereum would be just as fast if there were fewer transactions. I remember in the early days of ETH, it was much more convenient to send transactions than with the Bitcoin blockchain. Today, often the opposite is true, although Bitcoin also has big problems in that area.

Sure but having congestion is an indicator of a chain's popularity as well. Solutions are underway, but decentralization comes at a cost. I don't know if that can be fully resolved one day, but probably not.

[Sayeds56]

One of the reasons why binance smart chain becomes this big right now is because ethereum gas fee is very high and this force some projects to switch to BSC but what do you think will happen once ethereum gas fee goes lower in near few months? Will BSC faced same fate as binance DEX? Or BSC will remain the better option over ethereum?

I am not very optimistic that Ethereum Gas fee will go down so soon, it might go further high as the Price of Ethereum is increasing. Ethereum Team made number of promises to bring down the fee by implementing some improvement projects, but unfortunately nothing happened. I have large number of tokens in my Ethereum wallet but i can not send them to exchange to sell them as the transaction fee is more than price of tokens. Practically speaking Ethereum network is unusable for small and Medium size investors, only whales can afford to use it. In this kind of scenario, obviously BSC and Polka dot will take advantage.

https://finance.yahoo.com/news/ethereum-berlin-upgrade-includes-fixes-150000940.html

[mr.robot8]

no the bsc blockchain will not remain the best option is only a temporary solution until the eth fees return to be reasonable then all the projects and users will return to the eth blockchain

[Lantind]

no the bsc blockchain will not remain the best option is only a temporary solution until the eth fees return to be reasonable then all the projects and users will return to the eth blockchain

I don't think so, because BSC developers have never played around in developing their network systems so it would not be feasible if this BSC was considered a temporary solution, because BSC is a mainnet that will clearly compete with Ethereum even though at this time it cannot beat Ethereum.

[virasog]

It defintely will crash and burn. Okay at least crash an never revisit those highs, remeber that we have has similar situations with bitcoin cash and btc.. the eth fees will go down and the bsc will lose its relavency.

It seems that the BSC will not just disappear when ETH costs have decreased and stabilized at a low rate, because they are basically on a different path so that investors and new project developers can make the choice of which one they will choose for their business.

I have emphasized enough that not only both Ethereum and BSC are here to stay but we will see other chains like DOT and ADA to be the part of smart contracts. All of them will co-exists which will be good for the overall crypto community. All chains have some advantages and disadvantages but they will continue to improve in order to take lead over the other.

[MFahad]

no the bsc blockchain will not remain the best option is only a temporary solution until the eth fees return to be reasonable then all the projects and users will return to the eth blockchain

I don't think so, because BSC developers have never played around in developing their network systems so it would not be feasible if this BSC was considered a temporary solution, because BSC is a mainnet that will clearly compete with Ethereum even though at this time it cannot beat Ethereum.

If BSC wants to beat Ethereum, they need to be more de-centralized. As long as BSC is centralized network, it is of no threat to the ethereum. People prefer decentralized network over the centralized ones and that's the major reason both bitcoin and ethereum consists of 70% of the total market-cap.

[plexasm]

no the bsc blockchain will not remain the best option is only a temporary solution until the eth fees return to be reasonable then all the projects and users will return to the eth blockchain

I don't think so, because BSC developers have never played around in developing their network systems so it would not be feasible if this BSC was considered a temporary solution, because BSC is a mainnet that will clearly compete with Ethereum even though at this time it cannot beat Ethereum.

If BSC wants to beat Ethereum, they need to be more de-centralized. As long as BSC is centralized network, it is of no threat to the ethereum. People prefer decentralized network over the centralized ones and that's the major reason both bitcoin and ethereum consists of 70% of the total market-cap.

False. DeFi/NFT traders don't care about or need maximum decentralization. You only need enough to remain open and without KYC, which isn't much.

[Republikcoin.com]

People prefer decentralized network over the centralized ones ...

Unlike that, the percentage of centralized platform lovers is still very high, we can see it through the number of users and the daily trading volume on the Binance cryptocurrency exchange. We all know it's a centralized exchange, but cryptocurrency users and the cryptocurrency ecosystem really love Binance when their shit coins are destined to be listed on Binance.
The existence of Bitcoin and Ethereum dominates the market today because this is a decentralized world, while the existence of a centralized platform is only used as an alternative choice for those who do not like decentralized systems. And as it turns out, there is still a market for users who prefer centralized systems.

[TWW]

for now, there must be many who expect a lot of the ability of BNB which has just started the pump and is finally corrected.
hoping BNB will be on par with ETH, for now, must be difficult. because seeing the use, it is still dominated by ETH and BTC. I think this is just a matter of centralization and decentralization. each of them had its own market.

[haidil]

for now, there must be many who expect a lot of the ability of BNB which has just started the pump and is finally corrected.
hoping BNB will be on par with ETH, for now, must be difficult. because seeing the use, it is still dominated by ETH and BTC. I think this is just a matter of centralization and decentralization. each of them had its own market.

for now I am more dominant in using BNB with gas fee that are not as expensive as eth .. maybe for some rich people the fee is not a problem, still dominantly using ETH and BTC.

[orengitu]

It's very glaring that eth is more decentralized but as for bsc, bsc as an advantages of
1. BSC is more cheaper when compare to ETH and this features is making BSC becomes puoplar and there are several projects that has switch from ETH to BSC.
2. The ethereum gas fee is very high and BSC has taken the advantage by given less gas fee and this hasade many projects coming to BSC.

BSC still have a long way to go, they need to be more decentralized, people will prefer decentralized over centralized network.

[Lantind]

If BSC wants to beat Ethereum, they need to be more de-centralized. As long as BSC is centralized network, it is of no threat to the ethereum. People prefer decentralized network over the centralized ones and that's the major reason both bitcoin and ethereum consists of 70% of the total market-cap.

That's right, that's why I have also told several people in this forum that the Ethereum mainnet and the BSC mainnet run on different paths so that the two of them will not threaten each other because with this BSC it can add new network options in the crypto space.

[bandungan]

One of the reasons why binance smart chain becomes this big right now is because ethereum gas fee is very high and this force some projects to switch to BSC but what do you think will happen once ethereum gas fee goes lower in near few months? Will BSC faced same fate as binance DEX? Or BSC will remain the better option over ethereum?

BSC will probably be a tough competitor to ethereum if it is in a network platform. because both have fanatical fans. I think this is a big competition between the two platforms and the one who will win is who has the best innovation in the future

[trauchot]

We have been waiting for 2 years or even more for the moment when the gas price on the Ethereum blockchain will fall and I do not think that the gas price will fall to those bottoms that were 3 years ago, so I am sure that the binance smart chain will remain a popular blockchain in the future and in general bsc and the ethereum blockchain will now constantly compete with each other because these blockchains are becoming the most popular and in demand, and I think that the developers of both blockchains are ready for new opportunities and discoveries.