ETH and BSC

[Evgenklm]

I don't think that ETH will complete the update in a couple of months, I have now completely switched to binance chain, because the author correctly noted that I am not ready to pay $ 20-50 on dex exchanges, so I will stay here, but still time will tell.

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[ecnalubma]

If the high Ethereum gas fees won’t be solved after new Ethereum’s scaling solution more developers might stop using the network or even if they fixed the issue the confidence that BSC build during the high gas price won’t go down. BSC is the new rockstar in terms of building dapp, growing demand is a proof that it will do good in the long run.

[Golftech]

If the high Ethereum gas fees won’t be solved after new Ethereum’s scaling solution more developers might stop using the network or even if they fixed the issue the confidence that BSC build during the high gas price won’t go down. BSC is the new rockstar in terms of building dapp, growing demand is a proof that it will do good in the long run.

It's competing and you are right even ETH solved their issues with high transaction fees, with the way

BSC was formed, there are developers who will take this advantage using this chain, they will continue

and there are lots of incoming team who will also use this system, will be depend now with how the investors

and developers understand in full to use whatever chain they want.

[ragavancoin]

Your views point is right mate because the Ethereum gas prices is becoming a big problem for us due to some time we have to pay around 20usd for a single transaction in ethereum network and it will impact for small crypto traders like me and it can be helpful to BSC get more users involved in their network.

[forexandcryptoauditor]

We have to look at the basics of why Ethereum is the most popular platform for dapps. Yes, there are its own advantages by binance smart chain platform, but ETH has more scalability than BSC and thus startups choose the option to reside on that platform. Simplicity and I think low cost are the main considerations among the decision.
Having said so, ETH gas price is driving crazy to everyone and there may be some diversions because of it, but once the fee issue will be resolved, ETH will remain the first option for dapps.

[eaLiTy]

It will not happen because the BSC chain is not fully decentralized. The entire chain is under control of Binance and the nodes are run by 3rd parties which are controlled by Binance. A complete switch to the Binance Chain would mean for a project or company to be in the clutches of Binance which is an business risk.

Technically speaking what you are saying is true, Binance chain is centralized but do you think that the majority of the investors care about being decentralized, i really do not think so with the way how Ripple and other centralized projects became a success and those projects have a huge following as well and what i think is that the majority of the investors just think about the profit and not care about the rest.

[perfect999]

it is difficult to break people's traditions. Even if Eth doesn't make any updates after this time, people won't give up on it. Most importantly, the majority of cryptocurrencies released are still eth-based. When I make a transaction with BSC, I am happy to pay a small fee. But my thoughts are like this.

I agree with that but I also understand it as well. Think about it this way, ETH is subpar compared to BSC in many ways if you ask me, but BSC is fully centralized, even nodes are centralized and that is why people are scared of it a bit, and now there is 20+ billion dollars in locked value and that is a great job for BSC but ETH is still a lot higher and people are not entirely sure what they want to do with it, so what they end up doing is the fact that they go with ETH because it has more people and more decentralization and more volume and they feel more comfortable there.

I am not saying ETH is better, I do think that BSC is a lot better, I just think that people are not comfortable with it and that is why it looks a lot further ahead on ETH, simple as that. If you make people feel comfortable even if it is a worse product they will keep using that.

[7788bitcoin]

Currently, users from ethereum have switched to Binance smart chain due to transaction fees. Currently the usa case and the problems on the ethereum network have been resolved by the binance smart chain. I myself have now started making regular purchases of Binance as a form of long-term investment. because people's trust in binance is strong enough. You also have to have a BNB because currently the price is still cheap

The price of BNB already rallied a lot and i am not expecting the price to match the price of ETH, it is a fact that some of the projects jumped ship from ETH to BNB because of the insane transaction charges which does not help these projects when they are starting and hence they need to have the support of the small investors as well to be successful and hence they are forced to move.

The next couple of years is really important as we will see whether the POS change and the ETH 2.0 upgrade will help them in moving forward or some other chain will take those position.

[Willitivity]

Currently, users from ethereum have switched to Binance smart chain due to transaction fees. Currently the usa case and the problems on the ethereum network have been resolved by the binance smart chain. I myself have now started making regular purchases of Binance as a form of long-term investment. because people's trust in binance is strong enough. You also have to have a BNB because currently the price is still cheap

Binance smart chain fixed a lot of problems people experienced while trying to participate in DeFi. With Uniswap and 1nch and any other ETH network based automated market maker, it was very expensive to interact with those protocols and smart contracts so it made it very difficult for the average crypto user who doesn't have tens, or even hundreds of dollars to keep aside as fees. With BSC, its so easy and surprisingly very cheap to interact with defi protocols or even do transactions.

[NoG-NoG]

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 think even if ethereum gas fee is fix by the developer, Binance smart chain will still be patronize by plenty of projects because of what the BSC can offer to them. However, if the ethereum gas fee will be fixed, it will potential attract once again plenty of projects knowing for a fact that blockchain of ethereum is very useful and dominant for the last years in the market.

[yazher]

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?

Yeah and when your ETH is just enough for gas fees, it won't get you anywhere because the gas fees keep increasing and it doesn't give you damn low transaction fees for hours or even for days. You really need to add some from your external wallet because of its strange gas fees that it's not fixed. this is the problem with them and their clients have been talking about this thing for years right now and they haven't do anything about it nor they really cared.

[BLKMETAL]

I don't see any reason to believe they won't both stay relevant. Even if gas fees were equal, BSC has brought enough attention and money over for it to remain competetive. By the time ETH gas is cheap, a lot of the incentives to move back to ether will be available on BSC anyways (multi-chain project expansion).

[poodle63]

I don't think that ETH will complete the update in a couple of months, I have now completely switched to binance chain, because the author correctly noted that I am not ready to pay $ 20-50 on dex exchanges, so I will stay here, but still time will tell.

The dev said they gonna get it resolved in july 2021 but whether their words hold truth or not we don't know considering they also delay eth 2.0 earlier. at this point it's just wiser to temporarily migrate to bsc i guess moreover if we're in urgent need of sending money but i'll definitely come back to eth if they get things resolved, hopefully the miners could just hard fork and create their own version of eth.

[yua_na]

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 reason gas fees is right, but you forgot BSC sipported by binance which has hundred thousand or maybe million teader arround yhe world. Thats why bsc could be ethereum killer. I think bsc can reach ethereum 2017 marketcap at the end of this alt season

[kopijos]

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 still optimistic that BSc will be the choice of many people, even though the price of eth gas has dropped but BSc will still be utilized. because what we know now is that bsc puts forward easy fees and transaction speed. this could be a competitor for eth in the future

[Sophiya]

It is unlikely that this problem will be solved in a couple of months.  But even if that happens, I don't think BSC will face any problems.  Everyone will continue to use both networks, which is justified, there are pros and cons everywhere.

[Lantind]

It is unlikely that this problem will be solved in a couple of months.  But even if that happens, I don't think BSC will face any problems.  Everyone will continue to use both networks, which is justified, there are pros and cons everywhere.

Yes, because basically both networks are good for anyone to use, so there won't be any problem with the BSC if one day the ETH network experiences low costs, but there are still a lot of BSC users because this is Binance and nothing else.

[Tellek Garing]

ethereum fees going down in the near future? I am not sure about that, indeed BSC is Ethereum's biggest competitor at this time and BSC has also produced many extraordinary projects and if ethereum's fees in the future go down maybe new projects will prefer ethereum over BSC

[traderethereum]

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 still optimistic that BSc will be the choice of many people, even though the price of eth gas has dropped but BSc will still be utilized. because what we know now is that bsc puts forward easy fees and transaction speed. this could be a competitor for eth in the future

If ethereum can not reduce the gas fee, BSC can replace ethereum position, and ethereum will be behind BSC.
It is just a matter of time to see what will happen.
But if ethereum can give an update that will reduce the fee, ethereum could defend the position and still be the king of the altcoin.
But somehow, I've felt that BSC will temporarily replace ethereum until ethereum can fix the problem, but I am not sure about that.
So lets we wait and see.

[criket]

ethereum fees going down in the near future? I am not sure about that, indeed BSC is Ethereum's biggest competitor at this time and BSC has also produced many extraordinary projects and if ethereum's fees in the future go down maybe new projects will prefer ethereum over BSC

however, the current market momentum has been completely seized by the BSC. how not a new token from the BSC can be traded directly on the pancake exchange. which is an added value is the very cheap transaction costs. that is the complete victory of BSC at this time.
while ethereum, with uniswap exchanges and others, was still unable to reduce existing transaction costs.
it makes currently new projects more dominant in the BSC network. ethereum looks like it has to watch it first and can't participate in the current market momentum.