Is Binance Smart Chain the "New Ethereum"?

[jjdub7]

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 agree with you and I think that if the team and the creator of Ethereum want to keep the second place in importance of the coin in the crypto market, they should hurry up and eliminate the disadvantages of Ethereum.
On the other hand, I think that the rise of the BNB will continue for a long time and in general we cannot predict when it will stop. But the BNB's chances of displacing Ethereum are growing with each passing day of the coin's rise.

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[repear7]

Recently Binance smart chain being popular. Binance smart chain not a competitor with ethereum. Recently people like to use BSC for low transaction cost. I think BSC will be more popular in future, But, I also think ethereum will still in ethereum place.

[danherbias07]

Still early to tell.
We just have to wait for Ethereum 2.0 to be done.
I am not actually expecting much but I want to see some change. Be back to once the cheaper and fastest way of transacting and more.
It cannot be just the same as it was or Binance will really dominate them. High expectations are lurking around. It must be something big to encourage new and old investors back in their circle.

[Nivia1st]

Still early to tell.
We just have to wait for Ethereum 2.0 to be done.
I am not actually expecting much but I want to see some change. Be back to once the cheaper and fastest way of transacting and more.
It cannot be just the same as it was or Binance will really dominate them. High expectations are lurking around. It must be something big to encourage new and old investors back in their circle.

yes you're right, when ethereum 2.0 operates then we can judge it. if it is very difficult now because ethereum is not at its best. bcs is just in luck because ethereum is having a problem, if this is resolved I'm sure bsc will just be an alternative option like any other platform.

[Yamifoud]

Still early to tell.
We just have to wait for Ethereum 2.0 to be done.
I am not actually expecting much but I want to see some change. Be back to once the cheaper and fastest way of transacting and more.
It cannot be just the same as it was or Binance will really dominate them. High expectations are lurking around. It must be something big to encourage new and old investors back in their circle.

yes you're right, when ethereum 2.0 operates then we can judge it. if it is very difficult now because ethereum is not at its best. bcs is just in luck because ethereum is having a problem, if this is resolved I'm sure bsc will just be an alternative option like any other platform.

Ethereum 2.0 will make the network better, that's why it's called an update but they are not rushing things out. BSC is good but the thing is, we are discussing here about the centralized vs decentralized network and we all know that crypto enthusiast would always support a decentralized one.

[tvplus006]

Currently, there are a lot of different blockchains, each of which has its own advantages over the ethereum blockchain. But despite all these advantages, we see that the ethereum blockchain is as popular among developers of new coins as before. This is because, unlike BSC, it is decentralized.

[Ararbermas]

BNB is very popular during the uptrend because it makes a good progress and now you can see it everywhere around the internet. Perhaps it will be a big advantage for binance coin to take over ethereum in the future. . Indeed on Coinmarketcap if you click on exchange option even in any alts binance always show up...so there's a potential that this coin will lead in the future, its not because on its performance. Wherien probably it will gain more popularity than other alts.

[noorammak]

Based on what is based on the BSC, it can be said that this ecosystem is evolving rapidly but they do not have as much value as projects that have followed the DEFI trend. Projects on BSC copy each other's source code, so it can be said that BSC cannot be considered the next ETH.
The ETH ecosystem is really diverse, rich and has a long history of development.

[crwth]

There are a lot of coins that are somewhat similar to Ethereum, mainly these are the coins from the top of my head.

• ADA
• DOT
• ALGO

Their values right now are so far away from ethereum but you can never know if it can reach that price as well. The demand is high right now and the listed coins above can be your next jackpot. We will never know but that's just the market. What if a big influencer like Elon Musk starts hyping another coin? What would you think the next "DOGE" would be?

BSC can be next?

[masterrex]

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

IMHO, I don't think BSC will become a new Ethereum that's because BSC is just an alternative or an option to use right now due to the expensive transaction fees of the Ethereum Network, and that's a reality nowadays, and if the Ethereum gas problem will be solved I'm sure many platforms will go back to Ethereum Network as their prime Network. Binance Smart Chain has its own characteristics and purposes that's why let us stop comparing BSC to Ethereum because it was different while about the price I think BNB was still undervalued right now so I expect the price to reach $800-$1000 in the near future.

[naikturun]

it looks like they take attention from the fees given the same as erc20, bsc or bep20 networks have the same thing and there is almost no difference at all but the erc fees are too high while bep is already using the postal network and the fees are not expensive, that is why the bnb has increased which is very high and is just below ETH right now.
in the long term if this continues maybe BNB will outperform Eth.

[int03h]

Any project capable of implementing smart contracts can become a new Ethereum. We've got NEO, EOS, BSC, DOT, ADA and it looks like they're all new. BSC alone has a 100% Ethereum-compatible bridge and it is the place for projects to move in as a placeholder token to reduce transaction costs for traders. BSC takes a pretty similar approach to ETH as they are already a perfect copy of ETH.
Investors are thinking about more returns and they don't care much about proper development. Honestly, right now projects are copying each other's source code and degrading the crypto space. I am expecting ADA to have a breakthrough in the creation of quality projects. Even the current DOT still has many projects on the ETH network.

[ipanks]

BSC is not new ethereum but BSC can be a competitor for ethereum, especially in the fees. With many new projects moving their chain into BSC, they can benefit from the lower fees than if they still use ethereum. Maybe after the next update from ethereum, it can solve the fees problem so ethereum can still defend the position in the market.

[concept2]

It is hard to tell. Ethereum is facing its hard time due to the high fees which consume huge money from investors. Thus, they are hesitant to use the ether chain for ICO, IDO or swap. Binance, on the other hand, is having better fees than ether which is less than $0.5 per transaction (compare with $20 from ethereum). Therefore, many projects decide to move on this blockchain to attract more investors. Each has their own advantages and disadvantages. But right now, it seems that BSC is getting better and better everyday

[laredo7mm]

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

BNB is eating ethereum market share. BSC just took the initiative of the problem of ethereum network of high gas fees and offer a new project with a better solution with their new BSC chain which costs very low gas fees compare to ethereum. At the same time price of BNB is rallying up and made more than double its previous price. Ethereum just got a hard competitor.

[Henrobakkara]

it is still too early if the Binance Smart Chain is able to replace Ethereum or it is said to be the new Ethereum at this time.  The high cost of gas incurred by Ethereum is able to create a new breakthrough developed by the Binance Smart Chain so that Binance is the right solution to overcome the gas costs that must be incurred.  no wonder that most projects currently switch to Binance because it has lower transaction fees, perhaps more precisely Binance Smart Chain can be said to be a competitor to ethereum at this time

a competitor that has a high probability of replacing ethereum in the future. in the future Binance smart Chain may have a larger number of transactions than the ethereum network. and many projects use BSC instead of ethereum because the GAS fee problem cannot be resolved. This is a tough time for ethereum if the problem is not resolved as soon as possible, this could trigger people to switch to the BSC platform.

This is totally correct, the gas fees has really rubbed of wrongly and at the wrong time with Ethereum transactions and if this is not resolve quickly which I also dont believe will happen, they will continue to loss more projects to Binance smart Chain as we are currently witnessing and in the long run, Binance will eventually take over as the second to Bitcoin. BSC is definitely a competitor.  

[junkerr]

BSC is not new ethereum but BSC can be a competitor for ethereum, especially in the fees. With many new projects moving their chain into BSC, they can benefit from the lower fees than if they still use ethereum. Maybe after the next update from ethereum, it can solve the fees problem so ethereum can still defend the position in the market.

in terms of cost, I'm sure the BSC has also won far.
now in the spotlight is the use of the Binance chain network which has seen a huge increase.
today the BSC network and some of its popular assets today are the favorites of day traders.
while in the ethereum network, we still hear long-term investors who will voice to hold on to assets while waiting for ethereum 2.0 to finish.

[Argoo]

It is really useless to compare the ethereum network with others at a time when ethereum is fully renewed. I don't see any point in this. All the same, these estimates will lose their significance in the near future, as the actual data will continue to change. When ethereum finishes updating, then we will compare. I think the updated ethereum will look much more attractive than it does now.

[konflikkastil]

There are a lot going with ethereum right now, but thinking of what Binance has been able to do lately it has been good. Providing a solution to the one of the most challenging issue faced by lot of traders. In terms of high gas fee on the ETH network. Looking at this if Binance can provide a solution to and bring in a better way or better if ETH blockchain technology can be adjusted to reduce the gas fee to the minimal it will be good and it will still maintain the lead as the world best altcoin.

[sana54210]

IMHO, I don't think BSC will become a new Ethereum that's because BSC is just an alternative or an option to use right now due to the expensive transaction fees of the Ethereum Network, and that's a reality nowadays, and if the Ethereum gas problem will be solved I'm sure many platforms will go back to Ethereum Network as their prime Network. Binance Smart Chain has its own characteristics and purposes that's why let us stop comparing BSC to Ethereum because it was different while about the price I think BNB was still undervalued right now so I expect the price to reach $800-$1000 in the near future.

I would say never say never in crypto. I do agree that ETH is just much bigger, think about it even with the huge fee's right now ETH is still getting more attention and much higher in price as well, and that is with like x100+ more fee paid for using it. However I would also say that BNB could go over ETH in marketcap as well, why? Because I remember when Namecoin was the second ranked coin in the world, then I remember Litecoin became the second, then I remember XRP became second, now it is ETH that is second.

Over time most of the second ranked ones go lower, that means there is a chance ETH could as well, it is much better than the other ones I listed obviously, but they were the best of their time as well, then something better came along and the second one dropped. Which means there could be a time when ETH loses the interest people have to it, and BNB could gather that interest and could go to second, not saying it will happen, just saying we have seen these type of things in the crypto world before so it wouldn't be a big shock if it happened.