ETH and BSC

[efreeti]

Since the cost of Ethreum gas is expensive then many projects that use the BSC network because of the cheaper cost and very easy for us to use, but this is not a momentary development for the BSC network and this will happen even though later the cost of ethreum gas is back down, and I am very sure the two coins will continue to compete both from the price to cooperation with the bounty project.

The issue about transaction cost is very related to scalability issue.
Right now ETH Developer are working to increase it, ETH network only can process up to 2M transaction per day.
https://ycharts.com/indicators/ethereum_transactions_per_day#:~:text=Ethereum%20Transactions%20Per%20Day%20is,91.93%25%20from%20one%20year%20ago.
Hopefully it will increase to 10M transaction or more after ETH 2.0

10M isn't even nearly enough. It is of course an improvement compared to what it is now, but if ETH 2.0 is supposed to become a major platform we are rather talking 100M transactions or even more than that!

Did you believe that ETH transaction will reach 100m transaction per day after eth 2.0 upgrade???
I am looking for it if it become reality

Why so many people flatter BNB's high just because of the low cost issue??
The cost means everything for retail trader, it's also help the blockchain adoption.

Just like bitcoin. In term of quality ofcourse ETH is number 1 but in term of quantity(scalability) BSC still on the top.
Scalability problem on the blockchain is always an issue

This means that it can be concluded that those who praise BNB are small traders, because they are only helped by the problem of costs, while those who can get a lot of profit through ETH, obviously will never say ETH is bad because today the ETH token has reached a new ATH with past the $ 4K mark in a single unit.

I don't agree you calling some of BSC supported as small traders because any other network chains, there are whales in it.
A lot of my social media friends are earning more than what I can imagine that they can earn and that's because they are supporting BSC and BSC projects.

Yaaa me too. It's not about small trader. Low cost it's also means ETH scalability issue now becomes problem.
As you know ETH daily transaction only 2M transaction compared to BSC has 10M transaction per day

No it couldn't go up to 200M transactions per day, it was technically not feasible. What I am saying is that we will need at least 100M transactions per day and I think even moe than that if ETH is aiming at becoming the preferred network for developers to build applications for it.

[soul-impact]

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?

The use of ethereum or BSC depends on the project they consider using. The fact that ethereum fees are too expensive to trade causes them to switch to bSC because it is cheaper.
We often choose the way that is the least wasteful.
Ethereum is more valuable than bsc, it has increased significantly. While BSC still keeps the price, in terms of quantity, BSC is much more. Depending on the person, there are different options.

[hulla]

First of all, Ethereum 2.0 is launched but have about 4 phase and if I could remember correctly they currently in the second phase.

Thanks, when will be the third phase?

You're welcome. Ethereum ought to have executed the third phase before now but they delay the integration and not following the right procedure as writing on their ETH2.0 roadmap.
All the ETH team policy lately make me believe they are doing it on purpose so that BSC can gain ground in the smart contract setting and if you look into the BSC concept very well they only change the TPS of the ETH network to create the project.

[deepblue01]

Yaaa me too. It's not about small trader. Low cost it's also means ETH scalability issue now becomes problem.
As you know ETH daily transaction only 2M transaction compared to BSC has 10M transaction per day

No it couldn't go up to 200M transactions per day, it was technically not feasible. What I am saying is that we will need at least 100M transactions per day and I think even moe than that if ETH is aiming at becoming the preferred network for developers to build applications for it.

Yaa i see your point. If ETH network can be upgraded to 100M transactions per day. It need more than ETH 2.0 maybe ETH 3.0 or 4.0 .
Just now ETH only can do transaction up to 2M per day and BCS up to 10M per day.
After ETH 2.0 launch we expect we can do transaction more than 10M per day.
Thinking about beacon chain, is it the same network like lightning network?

[fileo]

Well I guess BSC will remain better option because the eth gas fee will go high sometimes. The gas fee is getting lower now but we don't know that in the next days it will go high again. The problem is still remain so hopefully in the near future the gas fee of eth will resolve.

Gas fee matter in doing transaction every now and then sending the token and buying tokens in erc 20 with high gas fee is frustrating. Gas fee means a lot for us small or big fish in crypto. So, BSC is the shock absorber for every migrated project from erc 20 to BSC. Binance will become more prominent in due time once Ethereum gas price become higher.

[deepblue01]

Well I guess BSC will remain better option because the eth gas fee will go high sometimes. The gas fee is getting lower now but we don't know that in the next days it will go high again. The problem is still remain so hopefully in the near future the gas fee of eth will resolve.

Gas fee matter in doing transaction every now and then sending the token and buying tokens in erc 20 with high gas fee is frustrating. Gas fee means a lot for us small or big fish in crypto. So, BSC is the shock absorber for every migrated project from erc 20 to BSC. Binance will become more prominent in due time once Ethereum gas price become higher.

It's because of high demand of transaction. Who ever pay higher than anyone else for transaction, they will get first. No matter who's waiting and for how long.  As long as this continue, some people won't use ETH network as much as they need. Demand vs supply is applied.
ETH 2M transaction daily is no longer fit

[wayaneka]

Currently i did not use DEX that use Ethereum blockchain like Uniswap to trade because reason of gas fee very high. Blockchain technology should be offer many advantages for the user include the low transaction fee. If Ethereum do not solve this high transaction fee, I think many user will move to other one because currently competitor Ethereum not only BSC but also other smart contract platform like Solana, Avalanche, Matic, Cardano.

[Lantind]

and now I see ETH prices continue to rise while bsc is stable at 600 $, when eth fees have been resolved maybe bsc won't be this attractive anymore and eth users who previously moved will come back because the fee problem is resolved, so in my opinion it's just a matter of time until eth v2 release.

Eth V2 has been released, it is just not completely finished so the problem of Gas costs is still unstable on the Ethereum network at this time, but for the problem of users and enthusiasts of Ethereum tokens, this is still a lot, even though the cost problem has not been resolved.

[Smitty Werben Man Jensen]

and now I see ETH prices continue to rise while bsc is stable at 600 $, when eth fees have been resolved maybe bsc won't be this attractive anymore and eth users who previously moved will come back because the fee problem is resolved, so in my opinion it's just a matter of time until eth v2 release.

Eth V2 has been released, it is just not completely finished so the problem of Gas costs is still unstable on the Ethereum network at this time, but for the problem of users and enthusiasts of Ethereum tokens, this is still a lot, even though the cost problem has not been resolved.

The good news is that ethereum 2.0 is out and it looks like it will take some time for gas costs to stabilize,
with the release of ethereum 2.0 i think it will make ethereum prices go up,
We'll see what happens later and hopefully the problem of gas costs can be resolved soon

[kenelmark]

Currently i did not use DEX that use Ethereum blockchain like Uniswap to trade because reason of gas fee very high. Blockchain technology should be offer many advantages for the user include the low transaction fee. If Ethereum do not solve this high transaction fee, I think many user will move to other one because currently competitor Ethereum not only BSC but also other smart contract platform like Solana, Avalanche, Matic, Cardano.

Yes, but all the competitors that you mentioned are still very early to compete with Ethereum which is very old in the crypto space, if you know Ethereum very well, then the BSC that is currently being used by everyone is no match for Ethereum, because the cost issue is not an obstacle for Ethereum which almost every day is able to reach a new ATH at its price.

[infer]

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?

They're both very good. Each currency has different features and disadvantages. Such as
Ethereum has always been dubbed the king of altcoins, its value higher than BSC, which is a suitable currency for long-term investments
Although Bsc is of lower value, it is common to choose it because Ethereum's transaction fees are quite expensive, this nature fixes the fees. At the same time, it is also a coin with high development potential.

[touseefahmad1999]

Mostly Daily basis project are going to be switched on binance smart chain because of lower transaction fees. as we know about the eth gas fees day by day rapidly increase but high quality types of projects are still choose Ethereum chain to list the tokens with great price. it will be  definately decrease the fees in upcoming months . but you have best option to transaction on binace smart chain and save you,r money. both have chains are working reliable with own way but you have use BSC After eth gas fees low we have again option to move so we over choice which is best for us  thanks for understand

[sarmrakib]

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?

Still Bsc is the best option over eth. Eth has a strong platform and the transactions increasing highly that's actually main reason behind the gas fees being so high. On the other hand Bsc has a also well established chain that reduced the fees become low but i think if the transaction become high the fees will be high as well.

[Coin-1]

Ethereum has a strong team that designs the network and improves the blockchain day by day. They built a working business product and an entire DeFi ecosystem from scratch. I respect Vitalik Buterin and all his contributors for creating such a reliable decentralized trading infrastructure. What's more, Uniswap V3 was deployed a few days ago which unfortunately caused transaction fees to spike to almost unacceptable levels.

Binance Smart Chain has a lower gas price, but this value is also constantly increasing. I recently heard on some trading platform that BSC nodes even temporarily stopped accepting transactions from some clients due to their network congestion.

Either way, these cryptocurrencies have unique advantages, which is why I use both of them.

First of all, Ethereum 2.0 is launched but have about 4 phase and if I could remember correctly they currently in the second phase.

Thanks, when will be the third phase?

According to the roadmap, the next EIP 1559 will be activated in two months, in July 2021. As far as I understand from the post on their official Twitter, the third phase of ETH 2.0 will be implemented straight after the "London" hardfork.

[efreeti]

Yaaa me too. It's not about small trader. Low cost it's also means ETH scalability issue now becomes problem.
As you know ETH daily transaction only 2M transaction compared to BSC has 10M transaction per day

No it couldn't go up to 200M transactions per day, it was technically not feasible. What I am saying is that we will need at least 100M transactions per day and I think even moe than that if ETH is aiming at becoming the preferred network for developers to build applications for it.

Yaa i see your point. If ETH network can be upgraded to 100M transactions per day. It need more than ETH 2.0 maybe ETH 3.0 or 4.0 .
Just now ETH only can do transaction up to 2M per day and BCS up to 10M per day.
After ETH 2.0 launch we expect we can do transaction more than 10M per day.
Thinking about beacon chain, is it the same network like lightning network?

That's what it looks like and rolling out updates for large established networks is cumbersome as nothing must go wrong and you need all stakeholders on board. A lot of applications will be built for ETH and they all consume a piece of the transaction capacity. I don't know if sharding can do it. If I got it right there is also only so much that can be achieved with sharding. It's a rocky path to get there.

[Kabul]

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?

They're both very good. Each currency has different features and disadvantages. Such as
Ethereum has always been dubbed the king of altcoins, its value higher than BSC, which is a suitable currency for long-term investments
Although Bsc is of lower value, it is common to choose it because Ethereum's transaction fees are quite expensive, this nature fixes the fees. At the same time, it is also a coin with high development potential.

Ethereum is not a king of altcoins and soon it will be replaced by another crypto, not like bitcoin who will always be the king of everything. The advantages of ethereum is being-known, common and having various projects. However, other blockchain is having its own ecosystem with more Dapps and stronger cyber-security. And as you can see, coins are being moved to new sections such as BSC, Fantom or Sol

[Lantind]

The good news is that ethereum 2.0 is out and it looks like it will take some time for gas costs to stabilize,
with the release of ethereum 2.0 i think it will make ethereum prices go up,
We'll see what happens later and hopefully the problem of gas costs can be resolved soon

The price of Ethereum has always risen slowly until it has been able to pass $ 4K in one unit, but this has no effect on expensive Gas costs, because when the cost of Ethereum Gas is cheap, the buyers and enthusiasts of Ethereum tokens are also not much different from now, because some people who use Ethereum wallets only to make transactions with other tokens not to buy Ethereum.

[CryptoLogo]

Why choose one thing. The crypto market is designed in such a way that you can always take advantage of any of the opportunities, and there are a lot of opportunities in the crypto market. Two networks with different commissions. Obviously, many projects will switch to the Binance network despite the attractiveness of the Ethereum network. The question is what Ether will do with this, whether it will be able to return commissions to lower values.

If l were you of course prefer investing in ETH than in BSC. However, as you above mentioned it is not necessary to choose only one project for investing in. We can invest in both of them, maybe you can divide your money between these coins if you believe in both of them. It is just my opinion, l believe that ETH is a most strong coin and we can make a better profit from this coin than BSC if we can be enough patient. Because ETH is the best opinion for long-term investment.

It is definitely worth investing in both projects. If only because the BNB showed growth that no one expected from the coin. And who knows what other trump cards are hidden in the sleeves of the Binance management.
Diversification should be at the forefront. Given the growing competitive tensions, both projects can generate excellent profits, as their struggle seems to be just beginning.

[Lantind]

It is definitely worth investing in both projects. If only because the BNB showed growth that no one expected from the coin. And who knows what other trump cards are hidden in the sleeves of the Binance management.
Diversification should be at the forefront. Given the growing competitive tensions, both projects can generate excellent profits, as their struggle seems to be just beginning.

I think this is a little different because ETH has already developed and has also made very good progress beforehand, in contrast to BNB which has just been trending in the last one year even though its age in the crypto space has also been quite a long time.

[ahmia39]

Is it true that ethereum 2.0 has been officially launched? I haven't seen the update right now even though I monitor ETH prices all the time. I can only be sure that when eth 2.0 is fully implemented, the price will go up drastically

In general, it has been launched, but the implementation has not been fully implemented so that the updates are not very visible, but in terms of price, hasn't Ethereum experienced several ATH times this month by passing the $ 4K mark for one unit?