ETH and BSC

[cryptobrzy]

Binance smart chain has been doing really well in the past months and most projects have been moving off ethereum network because of the extremely high sending fee but i think things would change if ethereum network 2.0 solves all this small issues… if or when binance has issues or decide to shut down then it is really going to affect alot of projects

[nemey]

BSC and Ethereum both use a gas model for transaction fees that measures the complexity of a transaction. BSC users set gas prices according to network demand and miners will prioritize transactions with higher gas prices. However, the London Ethereum hard fork brings some new modifications that will likely remove the need for high fees, and I think BSC should be concerned about this as everyone will flock back to ETH.

[desticy]

BSC and Ethereum both use a gas model for transaction fees that measures the complexity of a transaction. BSC users set gas prices according to network demand and miners will prioritize transactions with higher gas prices. However, the London Ethereum hard fork brings some new modifications that will likely remove the need for high fees, and I think BSC should be concerned about this as everyone will flock back to ETH.

Yes, and they partially succeeded, but the gas still very often remains at a high level, although not always.
As a rule, in the first half of the day you can see the lowest gas, and in the second the highest, not counting the days when the gas going crazy.

[tokyohd]

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?

Right i agree, Ethereum's gas fee is so high & the transaction system is so low quality that it really forces some projects to go to Binance Smart Chain. On the other hand, the transaction system of Binance Smart Chain is much improved and the fees are comparatively much less. So the popularity and use of Binance Smart Chain is increasing day by day. I think the popularity of Binance Smart Chain will continue to grow in this way & Which is enough to overtake Ethereum.

[Lantind]

at some moment fees in Ethereum network will go down and BSC should offer something better than low comission. for now BSC became a good reason for Ethereum to improve.

The increase of any coin is always inseparable from the number of users on the coin, but at this point it doesn't seem to have any effect where when BTC starts crashing, then others follow, just like now where BTC has started to improve its price which is also followed by all other altcoins including ETH and BNB, so the cost doesn't have a big impact on the price of the main coin.

[The Ghoul]

Now for some small capital users, your income may not even be as expensive as the gas fee on eth, which is obviously not worth it. So as a small fund user, I prefer to use bsc.

[distr@yopmail.com]

Now for some small capital users, your income may not even be as expensive as the gas fee on eth, which is obviously not worth it. So as a small fund user, I prefer to use bsc.

with a small capital of course BSC and some tokens on the market on the BSC network will be more friendly. and there are still many tokens that have low value. I am sure you will get a good investment asset. instead of choosing ETH and BTC, it will only kill your assets for transaction fees even if you hold them for a long time.

[wajik-tempe]

Now for some small capital users, your income may not even be as expensive as the gas fee on eth, which is obviously not worth it. So as a small fund user, I prefer to use bsc.

with a small capital of course BSC and some tokens on the market on the BSC network will be more friendly. and there are still many tokens that have low value. I am sure you will get a good investment asset. instead of choosing ETH and BTC, it will only kill your assets for transaction fees even if you hold them for a long time.

ETH fees was also cheap back then, it's because the price of ETH is growing so big and also the network is crowd i'm sure that made the gas fee of ETH sometimes more than 70. Which is not really worth it for doing many transactions.
I'm sure when BNB price is high as ETH, there will also fee increase to it. and another competitor will come to compete with them (solana maybe is maybe their competitor in the future).
So as an investors and traders, we should always keep up to date about what is really good and profitable for us on the market.

[v3liana]

I’m not trying to say that BSC will replace Ethereum, but that it may complement it as a chain that bridges to a CeX in the long run. In the short run, it’s a temporary escape from fees, and also lower barrier for entry for small players.

[BuNga_cute]

I’m not trying to say that BSC will replace Ethereum, but that it may complement it as a chain that bridges to a CeX in the long run. In the short run, it’s a temporary escape from fees, and also lower barrier for entry for small players.

With the Ethereum community being so large and Ethereum having such a solid team of developers, there is very little chance of BSC replacing Ethereum.
Now the popularity of BSC is increasing, because BSC can be a solution for Ethereum users who are looking for lower transaction fees. We know that
since DeFi has become a trend, the Ethereum network is very congested, as a result Ethereum gas fees have gone up very high. BSC saw this
opportunity, therefore the emergence of BSC was at the right time. No wonder some Ethereum users are starting to switch to using BSC. But now
Ethereum gas fees are back to normal, this is because the Ethereum team is moving fast with improving the Ethereum network. Slowly Ethereum users
who previously moved to using BSC, are likely to return to using Ethereum. It's hard to beat Ethereum, which has been in the crypto world for
a long time, the Ethereum team is far more experienced.

[mulia sabee]

I think the bnb is only almost in 441 usdt thats why the fee charge is so low while the eth is 2k usdt thats why the gas fee is so high. but ithink some day if bnb hit price on 2k usdt there is posible the bnb fee will be rise too. idont know if iam right but that is posible.

Every Gas fee that is set in any network is always related to the value of the cryptocurrency itself, for example when someone makes Bitcoin transactions through the Bitcoin network, for now it is considered expensive even though in the past it was still considered cheap because the amount of gas spent was still the same, but because the prices are different, the amount of gas in dollar terms is also different.

it's a sure thing and it's also part of the laws of economics, so I don't think it's worth arguing with the high transaction fees that ethereum has.

[domoy77]

Thats it, for big fee price on erc20 is not problem but for users who send low amounts and coins last months fee is high. We need to wait for better and lower fees on erc20 but bsc is low fees and different story as we all can see.

If you only look at the cost issue on the two networks, I don't think it will be enough to make a comparison because the prices of the main coins are also very different, but take a look at some of the fees on all the other networks such as Matic, Doge, TRX, XLM and also others, then compare with ETH and BSC, so you know which one is cheaper.

[Harriett]

Using BSC to compare with Ethereum, I think it is too superficial, it is not a high-end product at all.I think that BSC should be compared with SOL, and then Ethereum should be compared with DOT.

[DogeBNB.org]

When you use Ethereum and then Binance Smart Chain then blockchain makes sense again. Imagen banks charging 200USD per transaction sending 100 dollars

[imamusma]

Using BSC to compare with Ethereum, I think it is too superficial, it is not a high-end product at all.I think that BSC should be compared with SOL, and then Ethereum should be compared with DOT.

Why is that? do you have a very specific reason for comparing BSC to SOL and Ethereum to DOT ? because Ethereum and DOT have very far differences and also have different users on both so the comparison is very unbalanced in my opinion.

[MaiQwaN]

Indeed, some new projects can move to the Binance chain, especially when it becomes necessary to carry out small payments, distributions, etc. But those who need more centralization will still use the Ethereum network.

[deathcode]

Indeed, some new projects can move to the Binance chain, especially when it becomes necessary to carry out small payments, distributions, etc. But those who need more centralization will still use the Ethereum network.

some have moved but some are still consistent with the ethereum network. but those who are consistent with ethereum should of course think about how they will maintain the trust of investors and traders in the market. they have to answer how the progress that developers are making to deal with the problem of rising transaction costs.
I'm sure most of the projects on the ethereum network get this question. for investors maybe they have a long-term plan and don't mind it. but for traders in the market, I'm sure it must be disturbed.

[SyndicateLabs]

Perhaps it doesn't need to be seen as a serious problem to deal with.
I see the desire of people who can't buy and hold ETH rather than BNB, maybe why everyone will understand for themselves. If looking at the limitations of a coin and taking it as a problem, this market will only exist as a solution rather than a sustainable value. And comparing things that are core in this field is really something stupid, one can imagine figuring out which role the left eye plays and the right eye plays better

[Lantind]

Now for some small capital users, your income may not even be as expensive as the gas fee on eth, which is obviously not worth it. So as a small fund user, I prefer to use bsc.

Well if that's true it's obvious because the balance is not worth it so the solution is to choose a cheap one like BSC so that it can be very helpful in taking any profits while you work, but it's just an option you need, so it doesn't mean Ethereum has become bad for you too

[cryptobrzy]

We know ethereum has the 1st  smart contract and would always be second to bitcoin so that alone would always attract big projects but something need to change with the gas fee because that is why most project are going with binance smart chain and things would only get better for binance if nothing changes with ethereum gas fee