ETH and BSC

[2tang]

I see only the issue of gas fees with Ethereum platform. Apart from it, there are many advantages of it. Simplicity and scalability. At the moment due to high gas fees, dapps are moving to BSC to avoid larger transaction fees which may lower down their budget. But once ETH will resolve the fees issue, I think the glorious days will come back for dapps to reside on ETH platform.

Yes, in general there is only one problem with the Ethereum platform at this time, namely transaction gas fees, the rest is not there so that currently there are still many people who recommend investing into Ethereum tokens because the potential is still not lost even though the problem with transaction fees is still not resolved.

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[Republikcoin.com]

If all talk about the comparison of transaction fees between these two platforms, then the existence of BSC will benefit more than Ethereum, where currently the validators on the BSC blockchain network as we know are centralized, therefore, the consensus algorithm changes to overcome the high transaction fees on the BSC network will be easy to overcome. And users who are temporarily migrating from Ethereum to BSC (even if their goal is for a while) will have a hard time coming back to Ethereum, because they have already got what they need in BSC, except for decentralization.
So here, the market share will go to BSC 60%: ETH 40%

[odukoyaewatomi27]

Now Binance Smart Chain has acquired a significant measure of market share that it will stay important for quite a while. It actually has far way to go to surpass ethereum, but they are still keep on creating it and assemble projects on this blockchain. Ethereum will consistently be perhaps the most well known blockchains and if charges go down it will recover a portion of that market share.

[kram31]

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 would agreed that one of the reason why ETH was surpass by BSC is because of the high gas fee, But none of us here can't say when it will become lower its gas fee in terms of transactions under by ERC20. And as I noticed as well, some of the scammers also are now shifting to scam others using BSC platform because many of the new projects are now choosing BSC due to its very cheap charge and cost in creating coin.

[H1N1]

In my opinion, Ethereum will be the best choice among other altcoins, although for now Ethereum fee gas are very expensive,
And if you say that Ethereum fee gas will come down in the near future, that's probably the wrong opinion, because crypto transactions especially Ethereum are still very busy lately.

Yeah, aside from high gas fee, ethereum is the best coin with smart contract in my opinion.
Many good projects are using ethereum blockchain to create their own token.
But now we have alternative to use binance smart chain, which provide the lower gas fee for transactions.

[kenelmark]

Yeah, aside from high gas fee, ethereum is the best coin with smart contract in my opinion.
Many good projects are using ethereum blockchain to create their own token.
But now we have alternative to use binance smart chain, which provide the lower gas fee for transactions.

That's right, now is the trend for BSC to develop because in the past this has been done by Ethereum where almost all new projects use smart contracts from Ethereum, although now many have switched to BSC to minimize transaction costs that have to be incurred later.

[meysonYo]

Yeah, aside from high gas fee, ethereum is the best coin with smart contract in my opinion.
Many good projects are using ethereum blockchain to create their own token.
But now we have alternative to use binance smart chain, which provide the lower gas fee for transactions.

That's right, now is the trend for BSC to develop because in the past this has been done by Ethereum where almost all new projects use smart contracts from Ethereum, although now many have switched to BSC to minimize transaction costs that have to be incurred later.

And despite all the obvious problems with Efir, with his huge commissions on the network, today he again updated the ATH. For me, this is an incredibly amazing result. Although, to a large extent, this can all be due to the fall in the price of Bitcoin. And BTC holders are pouring their funds into assets that are still growing. But alas, it may not last long.

[jacafbiz]

The issue with Ethereum is that the gas price won't come down to the level of BSC even when it come down. The issue is that the higher the price of Ethereum, the higher the gas fee, just look at what is happening now, BSC has open the mind of people that other chains can indeed become a good platform and attracts huge developers just like Ethereum has, I just hope projects like Solano and Polkadot leaves up to expectation

[AhmadM]

I see only the issue of gas fees with Ethereum platform. Apart from it, there are many advantages of it. Simplicity and scalability. At the moment due to high gas fees, dapps are moving to BSC to avoid larger transaction fees which may lower down their budget. But once ETH will resolve the fees issue, I think the glorious days will come back for dapps to reside on ETH platform.

I assume ETH devs have done their best to resolve the current high fees issue, if there is no delay in the development then in the mid of the year the devs would implement a new update EIP-1559 (aka London hard fork) as an attempt to reduce network fees.

Here's the article about EIP-1559 -> https://decrypt.co/60395/upgrade-reduce-supply-ethereum-gets-launch-date-eip-1559

[KimmyF]

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 just copied something but decreased the transaction cost. We are all waiting for the next update of Ethereum. Unfortunately, we couldn't see very low transaction cost of Ethereum before the second half of next year. Although the last two days Ethereum transaction cost is twice as low. From next month we can use ETH blockchain at a low cost. Do we think other blockchain transaction costs are also low, but why is BSC the main headache?

[arabspaceship123]

BSC will not end up being a lost commodity after high gas problems will be fixed on Ethereum. As long as Binance continues promoting token sales for upstarts they'll use BSC to make funding happen.

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?

[motun01]

If i had to answer this question some months ago i would have chosen ETH because i believe that ETH still provides incredible value and  is also very reliable for the development of Blockchain projects but ever since the issue of high transaction fees arose again, BSC is definitely my preferred Blockchain

[Kocret02]

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.

BSC is winning nowadays because of the low cost factor, so I don't think it's a win for BSC in the long run. this is only temporary. to see the future of bsc wins is how when the eth fee return is low, whether the BSC can win or lose.

[arabspaceship123]

What you're saying is just because of high gas you're choosing BSC over ETH? What about all other attributes both chains possess that can be compared?

If i had to answer this question some months ago i would have chosen ETH because i believe that ETH still provides incredible value and  is also very reliable for the development of Blockchain projects but ever since the issue of high transaction fees arose again, BSC is definitely my preferred Blockchain

[mmhaimhai]

In my opinion, there are still more people who thinks that ETH is better than BSC but ETH gas fee just really sucks coz it is too high. If ever ETH gas fee will be as cheap if not cheaper than BSC then there's a big possibility that people will use ETH more often and BSC might fall.

[arabspaceship123]

When it's about making profit for traders it doesn't matter BSC is centralised and Ethereum is decentralised. The high gas problem Ethereum faces doesn't help investors and traders, BSC is a clear winner when it's about low fees. BSC existed a short time but it's proved a strong challenger to ETH.

In my opinion, there are still more people who thinks that ETH is better than BSC but ETH gas fee just really sucks coz it is too high. If ever ETH gas fee will be as cheap if not cheaper than BSC then there's a big possibility that people will use ETH more often and BSC might fall.

[Lantind]

just that and traders will look for where it is cheaper, because there is a difference on dex exchanges for one transaction to pay about $ 30 on ETH or $ 0.3 on BSC, for me the answer is obvious and this is BSC.

Everyone will also choose the cheapest one to make transactions unless the token does not run on the BSC network, it is forcibly they have to sacrifice expensive Gas fees, otherwise then Hodling in the long run is the last choice for him.

[kenelmark]

And despite all the obvious problems with Efir, with his huge commissions on the network, today he again updated the ATH. For me, this is an incredibly amazing result. Although, to a large extent, this can all be due to the fall in the price of Bitcoin. And BTC holders are pouring their funds into assets that are still growing. But alas, it may not last long.

The benchmark for resilience is whether or not the price of Bitcoin is high, because the decline in the price of Bitcoin will always affect other tokens in the market, and this has been found very often by everyone, even now we can all see when Bitcoin was corrected, so others also followed.

[meysonYo]

And despite all the obvious problems with Efir, with his huge commissions on the network, today he again updated the ATH. For me, this is an incredibly amazing result. Although, to a large extent, this can all be due to the fall in the price of Bitcoin. And BTC holders are pouring their funds into assets that are still growing. But alas, it may not last long.

The benchmark for resilience is whether or not the price of Bitcoin is high, because the decline in the price of Bitcoin will always affect other tokens in the market, and this has been found very often by everyone, even now we can all see when Bitcoin was corrected, so others also followed.

You are partly right - after the Bitcoin correction, the entire market goes to the correction as well. But many investors at this time do not withdraw their funds directly to the USD, but pour them into such coins as Ethereum. This is what we see now. In the short term, Ethereum will hold its high position. But if Bitcoin continues to fall, Ether will not be able to resist.

[cryptoknightt]

Today eth fee is cheaper, in my opinion if eth and bsc have the same gas fee later it will not have a bad impact on bsc, because bsc bnb busd already has a network that can make it easier for users to swap each other, and this is very convenient in my opinion as BSC network users.