Is Binance Smart Chain the "New Ethereum"?

[laohe628]

well, at this point it is quite clear that many projects are more interested in using BSC than ETH. it made me think that this is the "new ethereum" too. other than that, I think BSC has many advantages over ethereum. So, it's quite natural that people today think of using BSC over ETH.

I have the same feeling too, i have looked around the bounty project recently, most of them are using BSC. But I think it has something to do with the low gas fees of BEP20, it not means BSC can compare to ETH now, maybe it could in the future.

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[cheezcarls]

Ever since the "De-Fi" craze began on 2020, Binance Coin has been on a constant uptrend in price. It went all the way from nearly $20 to just $500 in a matter of months. Binance has done a good job in promoting its own currency, resulting in massive adoption in the mainstream world. The world's largest crypto exchange owns "CoinMarketCap" so it has all the tools to make BNB a huge success. With near-zero fees and near-instant transaction confirmation times, Binance Smart Chain (which powers BNB) could become the "next Ethereum" in the crypto/blockchain space. Vitalik and his team better hurry up on scaling Ethereum before it's too late. With how fast BNB has grown lately, it could flip ETH sometime in the future.

What do you think? Is Binance Smart Chain the "New Ethereum"? Or is it too early to tell? Do you think it will replace Ethereum sometime in the future? Are current prices sustainable in the long run? Your input will be greatly appreciated. Thank you very much

As much as I liked the Binance Smart Chain, they can’t be the “new” or “next” Ethereum. No one can replace Ethereum despite that we are so sick and tired of these exorbitant gas fees. As for Binance Smart Chain, fees are very low but centralized in which there’s a chance that our tokens can be locked up for good.

And I have a feeling that Eth 2.0 will be coming soon as they are transitioning from proof-of-work to proof-of-stake. With this one, Ethereum would be unstoppable!

[rahmathidayat93]

I have the same feeling too, i have looked around the bounty project recently, most of them are using BSC. But I think it has something to do with the low gas fees of BEP20, it not means BSC can compare to ETH now, maybe it could in the future.

The project developer uses the BSC platform to make it easier when distributing and lower in cost, but for the ETH platform at this time it is also starting to be cheap, but because ETH prices are already at an expensive number, the transaction costs are visible more expensive, whereas in the past all project developers used ETH.

[calandra78]

I have the same feeling too, i have looked around the bounty project recently, most of them are using BSC. But I think it has something to do with the low gas fees of BEP20, it not means BSC can compare to ETH now, maybe it could in the future.

The project developer uses the BSC platform to make it easier when distributing and lower in cost, but for the ETH platform at this time it is also starting to be cheap, but because ETH prices are already at an expensive number, the transaction costs are visible more expensive, whereas in the past all project developers used ETH.

This is like a shifting of popularity for new projects.
we can preview so many ICO projects that come with the ethereum blockchain. and now all change to the BSC blockchain network.
market and developers also think about the best for their projects. because it can't also depend on waiting for ethereum transaction fees to go down. BSC has become a solution.

[manok jepang]

Indeed, currently Binance is developing very well, and many crypto users have switched to the BSC network, so that from day to day its development is increasing, but I think it is too early to say that BSC is the new Ethereum, because etherem is also growing with  perfect, especially in the last two days etherem transaction fees have decreased by 50%, this has a very positive impact on ETH's future growth, of course BNB currently cannot beat ETH's popularity ,,,

[bamb]

Binance smart chain is a fork of ethereum. There is no way binance smart chain will be new ethereum.  The centralization of bsc has helped a lots of projects in Cryptocurrency through out the time when  outrageous fee on ethereum network were experienced.  Bsc was not perfect but it was timely in that it came as alternative.  But I hope we will continue on our decentralisation journey as fees are back to normal and other solutions are  been provided!

[Abiky]

I didn't know much about BSC until recently. From what I can see BSC can do everything that ETH can do and it is much faster and cheaper. It might be more centralized but for many things they are doing decentralization is not the most important thing. NFT's don't need any decentralization whatsoever. DeFi on ethereum is already somewhat centralized anyways because most nodes are running on cloud servers. BSC has managed to get so many projects built on their ecosystem in a short amount of time. At the rate it is growing it wouldn't surprise me if they flipped ethereum someday.

Technically speaking, Binance Smart Chain is superior than Ethereum. Yet, it's heavily centralized manipulated by a single entity. Nodes on BSC are much more limited than those on the ETH blockchain. People don't care about decentralization these days, so they'll go with Binance Smart Chain altogether. The ever-rising gas fees on the ETH blockchain has forced many people to look for other alternatives on the market. It's no wonder how BNB became the third-largest cryptocurrency by market cap at a fast pace. The longer it takes developers to scale the ETH blockchain, the faster BNB will rise to glory. Binance has all the tools required to make Binance Smart Chain a huge success. It should only be a matter of time before BNB replaces ETH as the leading altcoin on the market. Just my thoughts

[angrynerd88]

Not exactly say Ethereum but best competator of Ether.Ether is my favorite but i like most BSC it helped low fess of transactions and i think this is main reason mostly new projects based on BSC.Defi projects encourage BSC we see results how BNB hit near to $700 but Holders believe in news if they hold long it will cross $1k. I think binance encompasses a chance to supplant ethereum but the hole between binance and ethereum on marketcap is as well distant. that will be very troublesome for BNB to outperform it.

[raes]

Not exactly say Ethereum but best competator of Ether.Ether is my favorite but i like most BSC it helped low fess of transactions and i think this is main reason mostly new projects based on BSC.Defi projects encourage BSC we see results how BNB hit near to $700 but Holders believe in news if they hold long it will cross $1k. I think binance encompasses a chance to supplant ethereum but the hole between binance and ethereum on marketcap is as well distant. that will be very troublesome for BNB to outperform it.

for this year's bull momentum, BNB and BSC are indeed the winners. while ethereum was abandoned by their old projects who migrated to BSC. and the adoption of new projects is also more BSC.
but you can see how ethereum has also optimized transaction fees to be lower. maybe ethereum momentum is at the end of the year or early next year.

[hari9981]

Binance Smart Chain has a lot of advantages over Ethereum and Ethereum-compatible blockchains. Here are some of the major ones:

* Insanely fast transactions (3 seconds)
* Cheaper transactions (approx 50 times cheaper)

Yesterday I needed to swap few BSC tokens. Since my wallet had no BNB, I've withdrawn few from gambling casino. It took about 30 minutes before I got them in my wallet. Confirmation and swapping took also about an hour. When everything was done, I have withdrawn BNB to Binance and they were confirmed there in about 5min and I've paid for that transaction 6 cents.

If we open etherscan.io right now, we could see that a transaction can be done with the following circumstances "15 gwei $0.79 | ~ 16 mins:0 secs". This is still slower and expensive than a BSC transaction, but it does not look like a "3 sec" quick and "50 times cheaper".

Agree, manytimes i interact with Dex on BSC Platform and its not an easy things to do and not a smooth fast transaction, my experience when using EOS is better.
I guess the next dApps platform that will compete with ETH is EOS.

[Republikcoin.com]

In my opinion, Ethereum and BNB are not competitors. Both are doing a great job. Although Ethereum is not good in some areas, its prices have also increased a lot.
In the future, the ETH and BSC network will become even stronger. I think Ethereum may be # 1 and BNB # 2 in the future, Bitcoin may be eliminated 

Ethereum has an older age than Binance, that can be a strong consideration because here the Ethereum community is bigger than BNB. Ethereum and Binance will be the choice for everyone when BNB has the same business area as Ethereum, so market struggles will occur, causing competition between the two platforms to be forced to immediately make epic innovations in the cryptocurrency world.
With competition, to fight for consumers, here consumers will get something more comfortable.

And Bitcoin, not worthless, but will become an icon of the cryptocurrency universe that can be analogous to gold. Can only be saved, but worth a fortune.

[orengitu]

In reality, as of now Binance is growing well overall, and numerous crypto clients have changed to the BSC network, so that from one day to another its improvement is expanding, and they enjoy the accompanying benefits;

* Fast transactions

*Low Transactions cost

Yet, I think it is too soon to say that BSC is the new Ethereum, on the grounds that etherem is likewise developing with  awesome, particularly over the most recent two days etherem transaction expenses have diminished by half, this emphatically affects ETH's future development, obviously BNB presently can't beat ETH's fame ,

However much I loved the Binance Smart Chain, they can't be the "new" or "next" Ethereum. Nobody can supplant Ethereum regardless of that we are so weary of these extreme gas charges

Furthermore, I have an inclination that Eth 2.0 will be coming soon as they are changing from evidence of-work to confirmation of-stake. With this one, Ethereum would be relentless!

[Duzter]

Binance Smart Chain has a lot of advantages over Ethereum and Ethereum-compatible blockchains. Here are some of the major ones:

* Insanely fast transactions (3 seconds)
* Cheaper transactions (approx 50 times cheaper)

Yesterday I needed to swap few BSC tokens. Since my wallet had no BNB, I've withdrawn few from gambling casino. It took about 30 minutes before I got them in my wallet. Confirmation and swapping took also about an hour. When everything was done, I have withdrawn BNB to Binance and they were confirmed there in about 5min and I've paid for that transaction 6 cents.

If we open etherscan.io right now, we could see that a transaction can be done with the following circumstances "15 gwei $0.79 | ~ 16 mins:0 secs". This is still slower and expensive than a BSC transaction, but it does not look like a "3 sec" quick and "50 times cheaper".

Agree, manytimes i interact with Dex on BSC Platform and its not an easy things to do and not a smooth fast transaction, my experience when using EOS is better.
I guess the next dApps platform that will compete with ETH is EOS.

EOS is better than ethereum platform on various aspects, but it is outlined as a centralized model. This is the major reason that it hasn't gained more importance. Maybe with time things can change. When we talk of EOS replacing ethereum, there is possibility. But, with the continued updates on ethereum platform they try to keep it above the EOS platform.

[iTradeChips]

To be honest, I don't feel that there is much being done about Ethereum right now. I don't see any news or new developments that are being talked about excitedly here in this forum. So I guess the hunch of many might become a reality. It is now a matter of time before Binance coin will overtake Ethereum. Don't get me wrong, I was and still a supporter of Ethereum, but I live in the real world and in the real world you need to be a realist to see that ETH will be overtaken by a much more active Binance.

[Dr.Osh]

Ethereum high gas fee is one of the reason people went to binance . Basically Binance is a fork of ETH . So innovations being done in Eth, Binance simply goes with it with some tweaks. So it will be unlikely to go by ETH.

well, because ethereum fees are more expensive than BSC, and because there are some other problems, nowadays people tend to use BSC instead of ETH in building new projects. Well, I myself feel the fee is cheap, and the transaction is fast. I think, BSC can be said as the new ethereum in the future. but for now, it looks like the use of ETH is still more than BSC, especially now that there are so many coins that use the ethereum platform.

[uneps]

For the time being, due to the ETH fee that is less able to be reached by coin fans on the ETH network.  So thus many are switching to BSC.  However, there are still many ETH users, let alone many new tokens that use the ETH platform

[0xMiracle]

Ever since the "De-Fi" craze began on 2020, Binance Coin has been on a constant uptrend in price. It went all the way from nearly $20 to just $500 in a matter of months. Binance has done a good job in promoting its own currency, resulting in massive adoption in the mainstream world. The world's largest crypto exchange owns "CoinMarketCap" so it has all the tools to make BNB a huge success. With near-zero fees and near-instant transaction confirmation times, Binance Smart Chain (which powers BNB) could become the "next Ethereum" in the crypto/blockchain space. Vitalik and his team better hurry up on scaling Ethereum before it's too late. With how fast BNB has grown lately, it could flip ETH sometime in the future.

What do you think? Is Binance Smart Chain the "New Ethereum"? Or is it too early to tell? Do you think it will replace Ethereum sometime in the future? Are current prices sustainable in the long run? Your input will be greatly appreciated. Thank you very much

Same thought a few months ago, but right now I think the success of BSC mainly comes from good marketing and good community relations kept by CZ, as the Binance Smart Chain is more kinda like a community chain rather than an official chain for Binance. Indeed there are lots of good projects on BSC, and the whole ecosystem maintained great, and there would be potential benefits for projects to launch on BSC : the lower gas fee and the potential to be listed on one of the mega centralized exchange: Binance. However, the main tech-iteration comes from Ethereum, comes from Vitalik and the Geek community, and BSC acts more like a side chain for Ethereum, combining the benefits for both centralized and decentralized world. So if there's one proper way to define BSC, I think it would be a transition from Ethereum 1.0 to Ethereum 2.0 or Layer 2 solution, rather than becoming the "New Ethereum". Also please try to read the in-depth interview for CZ hosted by LatePost, might get a better understanding of Binance, BSC and CZ.

[xmonkeyx]

Ever since the "De-Fi" craze began on 2020, Binance Coin has been on a constant uptrend in price. It went all the way from nearly $20 to just $500 in a matter of months. Binance has done a good job in promoting its own currency, resulting in massive adoption in the mainstream world. The world's largest crypto exchange owns "CoinMarketCap" so it has all the tools to make BNB a huge success. With near-zero fees and near-instant transaction confirmation times, Binance Smart Chain (which powers BNB) could become the "next Ethereum" in the crypto/blockchain space. Vitalik and his team better hurry up on scaling Ethereum before it's too late. With how fast BNB has grown lately, it could flip ETH sometime in the future.

What do you think? Is Binance Smart Chain the "New Ethereum"? Or is it too early to tell? Do you think it will replace Ethereum sometime in the future? Are current prices sustainable in the long run? Your input will be greatly appreciated. Thank you very much

It can be said like that, I also see that BNB will be able to replace ETH in the future. The prediction is very reasonable given the significant development of BNB in recent months.
For the price of BNB, I believe that it will continue to increase over time until it will be able to pass the price of ETH.

[bakasabo]

I always liked how people operate with old facts without even checking them, when claiming that BSC network is cheaper than Ethereum. When was the last time these people have checked Ethereum and BSC transaction fees? Right now, Ethereum transaction cost about $0.55-0.6, while BSC transaction cost $0.30 (just check any transaction price here). Is 20-30 cents such a big difference to call BSC cheap? It does not looks like a huge price gap for me. Despite "cheap fees", what are the other reasons for BSC to be next Ethereum?

[kidbounty]

Binance smart chain is currently very popular, many new projects are using this network. but is this the next ethereum?, I'm pretty sure BSC is not ethereum. there will never be another platform more successful than ethereum. ethereum is special because ETH is the first and most widely used smart contract. its success can never be followed by other platforms. so there will never be a next ethereum even in the future.