Is Binance Smart Chain the "New Ethereum"?

[dhemasm]

But can't call it the new Ethereum just because of that.

Yeah i agree with you but it was copycat and forked from Ethereum Source code, Have similarity 1:1 from explorer, Interface, Source code, etc and that make BSC and ETH different is the algorithm where BSC was PoS and ETH was PoW (For now) Beside that BSC was more centralized. Well It's good alternaitve since the fee was really low and confirmation time was fast but i suppose BSC can't replace ETH.

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[vabchgent]

But can't call it the new Ethereum just because of that.

Yeah i agree with you but it was copycat and forked from Ethereum Source code, Have similarity 1:1 from explorer, Interface, Source code, etc and that make BSC and ETH different is the algorithm where BSC was PoS and ETH was PoW (For now) Beside that BSC was more centralized. Well It's good alternaitve since the fee was really low and confirmation time was fast but i suppose BSC can't replace ETH.

BSC is by far more centralized, but in terms of its efficiency it is obviously helpful. That has always been the issue Vitalik pointed out. If you want an extremely secure network, it must be as decentralized as possible. If you want speed, go for a more centralized network. Ethereum is just built differently and I hope they can find a sweet spot between decentralization and security such that it is not a pain in the ass anymore to use the network.

[hari9981]

Binance Smart Chain is not in any way the new Ethereum, binance chain has managed to make a name for itself and has worked its way up to becoming one of the top altcoins on coin market with the coin price growing from just tens of dollars to hundreds of dollars and since then it has been doing great, we also can't deny the fact that since eth gas fees became unbearable for retail traders, so many projects have been launched on binance chain, the ecosystem has grown massively throughout this bull run, but can't call it the new Ethereum just because of that.

I think the OP want to say BSC as new Ethereum by the background its the most popular dApps beating Ethereum recently. We dont know its will a long last or will just happen temporary until Ethereum solved its problem by ETH 2.0

[nurulhmani1280wat]

In my opinion, binance smart chain only releases technology like ethereum but I think binance smart chain is still on its own product and has differences with ethereum. but now the bsc platform can compete with ethereum because many projects release using the bsc platform

yes that's right mate, bsc is a coin that has been able to break through from $200 to $500 this year, and many projects are currently using the bsc wallet due to the very low cost of gas (BEP20).

[junkerr]

yes that's right mate, bsc is a coin that has been able to break through from $200 to $500 this year, and many projects are currently using the bsc wallet due to the very low cost of gas (BEP20).

I don't think the size is related to the price. BSC is integrated with BNB. it is only related to the use of the blockchain network.
BSC is indeed more popular because it can take the momentum from what is happening on ethereum. The increase in ethereum transaction fees made BSC successful in gaining strong adoption with the support of pancake exchanges.
In the past, BNB also developed a BEP-2 product with Binance DEX support, but I don't think it can take the momentum from ethereum.

[Xxmodded]

I think by present with Binance smart chain we have many option for buying coin network not only with ERC but also we can try with BSC, I think when both network give us much profit is not matter who is the best between BSC and ERC, keep have advantage and disadvantage between both BSC and ERC, just choose depend which one give us more profit later.

[haidil]

actually in BSC, how can the fee stay so low?
in the future BSC will have same problem than ETH 

this is like eth in mini form because maybe BSC will benefit more because the gas costs are affordable and can be used by everyone including small traders because with very cheap gas costs, many people will come there because everyone wants that.
but it's true that gradually as the bsc gets higher the price automatically the gas will follow and it could be the same as eth which is getting more and more crazy the gas used for transactions.

[john1010]

We all could say yes, because there's a lot of adaptation now on Binance Smart Chain, so many project now are begin to use BSC no doubt about it, in my speculation BNB will be the next ETHereum that's base on what we are seeing right now.

[ChaoChibai]

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

I think it is too early to say that binance will replace ethereum, because ethereum is so huge right now and so many investors who believe in it.  But in the other hand, binance also has its advantage.
Maybe we can compete both ethereum and binance in couple years later.

[leea-1334]

I think by present with Binance smart chain we have many option for buying coin network not only with ERC but also we can try with BSC, I think when both network give us much profit is not matter who is the best between BSC and ERC, keep have advantage and disadvantage between both BSC and ERC, just choose depend which one give us more profit later.

Lol,,, if everyone thought like this then we would be jumping to randomSwap promising 1000% APY.

It is not just about cheap fees and APYs, it is about security also and reliability, which one day I am sure Binance users will get to know very well when one big disaster happens on the platforms or when rugpulls keep happening and BSC users pay.

[BitTraderCute]

We all could say yes, because there's a lot of adaptation now on Binance Smart Chain, so many project now are begin to use BSC no doubt about it, in my speculation BNB will be the next ETHereum that's base on what we are seeing right now.

totally right dude, slowly binance smart chain could replace ethereum position. its proved by many new project launched in bsc ecosystem. using this platform actually give us alot benefit especially about transaction gas fee. many people complaning transaction fee in eth platform , and it resolved in bsc .

[bison]

That's right, your statement is very precise, because what every user of the ETH network and the BSC network has experienced can clearly make the difference so that security and speed must always be considered by both, and especially for Vitalik.

Security and speed in transactions are important points as aspects of evaluating the quality of a platform, if there is a problem with these two points, it can cause obstruction of the circulation of transactions in the market.

[kram31]

Binance smart chain as far as I know is differ to Ethereum, it's just all coming by a chance the bsc at the moment is cheaper in terms of transactions compared into ethereum platform is too expensive in terms of gas fee. Where because of this matter almost the majority of the new project that arise here in crypto space always go for the BSC platform.

[Silver80]

I think it's difficult to replace Ethereum as a counterbalance, maybe because bnb has started its fundamentals and this has been a good step even though it can't replace it in the future but there are alternatives

[VanDeinsberg12]

People sticks to BSC not because they love the blockchain but because the projects there are many varieties from the pump and dump coins to some decent project but honestly I never see something serious developed in BSC beside the defi.

Most of the long term promising projects either still stick to ethereum or create their own mainnet, also if RSK become the next big thing it could potentially reduce the market share of coins below 3rd rank.
I think you know it very well that the only thing keeping people in BSC are those shitcoins for trying luck or in a nutshell gambling. but that's just my opinion alright, take it with grain of salt

BSC is extremely popular because of the low fees and blazing-fast transaction speeds. This makes Binance Smart Chain the ideal Ethereum alternative. Of course, the platform is utterly centralized. But most people don't care as long as they're able to fill their pockets with money in the least time possible. With useless coins like SHIBA and Safemoon gaining traction on BSC, anything can be expected. I'm surprised how fast BNB went all the way to the moon compared to other cryptocurrencies on the market. Binance Coin is now the third-largest cryptocurrency by market cap next to Ethereum. It may never replace ETH, but it could retain its position on the market as people use it more thoroughly in the mainstream world.

No matter what happens in the future, both BNB and ETH will be here to stay. They will continue to grow until they become a "force to reckon with". Since BSC is based on Ethereum, the world's second-largest cryptocurrency by market cap has nothing to lose. Just my opinion

True, BNB only could fall down if binance somehow got entangled into some serious problem and ended up losing credibility, etc which doesn't seem to be happening.

BSC on the other hand was made specifically to be an alternative for ETH, anyone is free to use, people seem to always thinking that BSC user will never use ETH again once they switched but the reality is, none of the either BSC users and ETH users fanatic to any of these chain, they always use these two chain according to their needs.

[warg2017]

Yes that's right, Binance continues to be popular, and it looks like it will beat Ethereum for 3 years and then bitcoin 6 years, they are supported by everything to become the next ethereum.

According to what you said, i think it's too modest to call BNB the next ethereum, it should be the next bitcoin, after all, BNB will surpass BTC in 6 years.

[enhu]

Yes that's right, Binance continues to be popular, and it looks like it will beat Ethereum for 3 years and then bitcoin 6 years, they are supported by everything to become the next ethereum.

According to what you said, i think it's too modest to call BNB the next ethereum, it should be the next bitcoin, after all, BNB will surpass BTC in 6 years.

I have not really tried using BSC chain even the tokens that I need to swap are still ERC20. I wouldn't really say BNB is the new ETH until probably most of the bounty campaigns are using BSC chain.

The only time I used BSC address was there was an airdrop which they require BSC on the dapp I'm using. I'm not even sure if the token is worth storing in my wallet.

[tsaroz]

Binance smart chain has been taking a lot of market recently. Specially on dex and defis. There is pancakeswap and hundreds of it's copies that are changing how people interact with the coins they have. I am not sure how but they are providing one of the largest returns in any crypto platform and a lot of crypto is being frozen on these platforms. Cheaper fees and compatibility with Ethereum network is boosting it's use.

[casperBGD]

Binance smart chain has been taking a lot of market recently. Specially on dex and defis. There is pancakeswap and hundreds of it's copies that are changing how people interact with the coins they have. I am not sure how but they are providing one of the largest returns in any crypto platform and a lot of crypto is being frozen on these platforms. Cheaper fees and compatibility with Ethereum network is boosting it's use.

yeah, but with cheaper fees on Ethereum, everything is going back to normal, and Binance is losing their dominance over retail investors
nevertheless, they used these few months to establish themselves on the market, and will stay here, but there is low probability to be new Ethereum, or Ethereum killer, or any other name they call it, Ethereum has much deeper and better developer base, which will be here to innovate on the platform, and provide new service, that BSC can only copy

[leea-1334]

When Moon Token is specifically dedicated to provide a sustainable return by only holding a reasonable amount of tokens. Early investors will see the benefit of receiving almost ( sometimes more ) the same amount of their invested capital back in returns along with the increased token value.

More than 51% of the Supply is locked in AREA-51. All income via interest & transaction is funneled back directly to the core.

I have learned already that supply locked does not mean much if somebody has a backdoor to all these smart contracts in defi,,, and no, audited by certik does not mean much in the space when almost all high profile backdoor liquidity draining was actually having their contracts audited by certik:) How is WhenMoon different?