Is Binance Smart Chain the "New Ethereum"?

[Abiky]

It was never meant to be the "New Ethereum" but instead it was created to be an alternative for those who gets overburdened with ETH ridiculous fee and in july ETH probably gonna solve the problem regarding fee already.
As of now, I always see BSC as different entity compared to Ethereum seeing the nature of defi and dapps there which is quite different in my opinion compared to ETH and with BSC you won't have the leisure of running as much nodes as you want.

In crypto land, money talks. It's all a matter of staying ahead of the game in order to avoid losing mass adoption in the mainstream world. If Ethereum is unable to scale in time, other alternatives might be able to take its place in the future. Binance Smart Chain is the one closest to Ethereum in terms of market cap, increasing the odds of a "flippening" in the near future. Most projects have done the switch from ETH to BSC because of the high fees and slow transaction processing times. Binance has done well in marketing/promoting its own blockchain network, bringing demand to BNB at a fast pace. It's no wonder why Binance Coin sits at around $500 per coin. The longer it takes for Ethereum to solve scalability issues, the better it'll be for Binance Smart Chain and other rivals on the market. People are getting tired of subsequent network upgrade delays within the Ethereum blockchain, as they hunt for other smart contract platforms on the market. If the pace keeps up, BNB might become the "New ETH" in the not-so-distant future.

Nonetheless, no one knows what will happen in the future. As I've said many times, crypto behaves in strange and bizarre ways. Despite Ethereum's high fees and slow transaction processing times, it's still the #1 platform for "De-Fi". The majority of developers, companies, and startups support Ethereum right now, so I don't see Binance Smart Chain replacing it anytime soon. That could change if ETH continues to delay network upgrades. But with EIP-1559 and ETH 2.0 in sight, Ethereum will become stronger than ever before. One thing for sure is that Binance Smart Chain's level of mainstream adoption is low compared to Ethereum. As long as this is the case, Ethereum won't be going anywhere. Just my opinion

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[raji1995naya]

But, given the growing popularity of Binance, I believe it is possible. It will take time, but it is possible.
So, if this happens, his system will be as follows: Bitcoin will remain the King of all cryptocurrencies, ETH will follow bitcoin, and Binance will follow ETH.
The only issue is that time is running out; I'm not sure when this will happen, but it will.

[Hannahanto]

Seriously I'm also confused but I know the binance team is really working hard in there token and the rate of movement is cool. Maybe in future or 2 years from now it can go as high as ethereum or even beat the ethereum price and another good thing about the binance smart chain is that the transaction fee is low and far better than the ethereum mainnet.
Many people see bsc as the future ethereum

[BitcoinPanther]

It looks like that Binance Smart Chain had catered lots of attention and popularity.  Many project is shifting to its chain because of the cheaper transaction fee with the almost the same function.  Even though I cannot consider Binance Smart Chain as the new Ethereum, I can see it to compete toe to toe with ETH in the future.

[CaVO32]

It looks like that Binance Smart Chain had catered lots of attention and popularity.  Many project is shifting to its chain because of the cheaper transaction fee with the almost the same function.  Even though I cannot consider Binance Smart Chain as the new Ethereum, I can see it to compete toe to toe with ETH in the future.

BSC is a good competitor of ETH. But it is too early to say that it is the "New ETH". Developers as well as traders are going to BSC network because of the economical fees that it is offering. However, once ETH resolved their gas efficiency problem, some will go back to eth network. However, we can't deny the fact that there is advantage of BSC network these days. To avoid paying ridiculous fees, they offer cheap fees for traders. But some are sticking to ETH because of its decentralized nature. This coming July, once ETH implements their EIP 1559, we will see if there will be improvement in their gas efficiency, and let's see what will be the reaction of the crypto community.

[m.rifki]

Binance Smart Chain will remain a Binance Smart Chain and not become a "new ethereum" because he was made as an alternative when many people felt heavy to receive increasingly ridiculous costs on the network of ETH, all the entities were clearly different in my opinion.

[Teraboy]

Binance Smart Chain will remain a Binance Smart Chain and not become a "new ethereum" because he was made as an alternative when many people felt heavy to receive increasingly ridiculous costs on the network of ETH, all the entities were clearly different in my opinion.

BSC could be potentially as a competiton or replacement for ethereum. I do agree to call that as a new ethereum will not be correct but all of the things on BSC is almost the same like ethereum. BSC generated as ethereum fork chain. The main purpose of BSC to replace and fix all of problems that faced by lots of people on ethereum.
Some people were calling it as a replacement for ethereum due to this reason.

[Abiky]

It looks like that Binance Smart Chain had catered lots of attention and popularity.  Many project is shifting to its chain because of the cheaper transaction fee with the almost the same function.  Even though I cannot consider Binance Smart Chain as the new Ethereum, I can see it to compete toe to toe with ETH in the future.

High fees is what's "killing" Ethereum these days. Developers better roll new network upgrades to address this issue as soon as possible before an alternative smart contract platform replaces Ethereum. Binance Coin is now the third-largest cryptocurrency by market cap, so it has a higher probability of "flippening" Ethereum than any other coin on the market. Everything will depend on mainstream adoption above anything else. The longer it takes for ETH to scale, the higher BNB will rise to glory.

Of course, Binance Smart Chain is not as decentralized as Ethereum is. This should give ETH a slight advantage over BNB, as it attracts people seeking true financial sovereignty and censorship-resistance. High fees and slow transaction processing times hasn't stopped developers from building dApps on the ETH blockchain. The world's second-largest cryptocurrency by market cap (ETH) still has the largest ecosystem of dApps, tokens, and services around it. Binance Smart Chain may have risen in popularity lately, but it's still far behind Ethereum in mainstream adoption. If it stays that way, it may never become the "New Ethereum". Regardless of what happens in the future, I don't think neither BNB nor ETH will disappear from the face of the Earth. They're a "force to reckon with" backed by companies, businesses, developers, and individuals alike. BNB has Binance at its side, while ETH has Vitalik and the crypto community backing it every step of the way. What matters is the real use cases a blockchain platform is able to provide to the mainstream world. As long as both coins are useful, nothing else matters. Just my opinion

[MoneyJ]

This will never be the case. Simply because clones never passed the original. The only thing Binance is thriving because its gas price alternatively low compare to Ethereum . That is it. Same goes to HECO as they use Solidity to make smart contracts.

[Nunoluck]

It has great potential to replace Ethereum. Actually there are some other similar project that has the chance too. I watching those project and their cryptocurrencies price rise significantly during bullish market. I see some great project using their service. But I think Ethereum is good too, there is nothing to worry about investing in Ethereum, what we need to do is diversify our investment.

[udidrone]

Maybe not new ETH but alternative beside ETH that can be used by projects which is want to use less fee. My amateur sight maybe only see BSC use less fees than ETH for now. But maybe there are a lot of things that i not discovered yet. There is no need to replace one to another and why not just make it alternative which we still support both and people free to use which one that they want to use.

[Rexler]

I think Binance coin (bnb) became popular this year, due to the high gas fee  needed to make a transfer /transaction on etherum, cause before now everyone made use of Eth, but Binance Smart Chain has managed to steal all the attention from Ethereum and now it's the new founding background for thousands of projects, binance will go big but maybe not as much as people think it would. That's because ETH 2.0 upgrade would be coming very soon which is posed to solve most of the current issues.

[fileo]

For I could say yes. Because Binance Smart Chain do what Ethereum can do although not all aspects. BSC is affordable in gas transaction at the same time fast and safe. While Ethereum is not friendly gas fee as of now. Because if gas fee, many users and tokens migrated to BSC. Good opportunity for BSC to gain more attraction and might be the next Ethereum.

[martina14]

If Ethereum is always next into Bitcoin, in this case Binance Smart Chain will become next into Ethereum, and as I saw with the performance of
BSC it grows continuously in the market were most of the new projects arise now in this field of business whether legit or not they adopted the concept platform of BSC. But I am pretty sure also once the transaction become flooded of course it will also be like ETH where the transaction fee possible to increase as well.

[FIFA worldcup]

But, given the growing popularity of Binance, I believe it is possible. It will take time, but it is possible.
So, if this happens, his system will be as follows: Bitcoin will remain the King of all cryptocurrencies, ETH will follow bitcoin, and Binance will follow ETH.
The only issue is that time is running out; I'm not sure when this will happen, but it will.

The both chains cannot be compared as Ethereum smart chain is far more superior than the binance smart chain in terms of decentralization and security.
Also people are more interest in bsc project these days because binance smart chain offer very low fees as compare to the ethereum smart chain. Soon Eth 2.0 will be released and it will address the fee problem for ethereum.

[john1010]

Binance Smart Chain is a short term solution for long term problem of Ethereum which is scalability and high fees problem.
The network will succeed in solving this problem in the short term and it may be an attractive for projects but it is as thin as hardforks. a patch solutions will fail when Ethereum network becomes cheaper and faster.

New Ethereum is decentralized blockchain projects as ADA, Polkadot, and Stellar.

I hope so, eth gave me frustration specially in gas fees, I have lots of eth base token that I have not able to transfer because it cause me lots of dollar, in your point of view if eth is willing to solve that problem they must do it early, how many years now has been pass but still that old problem still a problem. BSC network for me is not a short term solution, IT IS A SOLUTION weather we like it or not.

[OZmaster]

Seriously I'm also confused but I know the binance team is really working hard in there token and the rate of movement is cool. Maybe in future or 2 years from now it can go as high as ethereum or even beat the ethereum price and another good thing about the binance smart chain is that the transaction fee is low and far better than the ethereum mainnet.
Many people see bsc as the future ethereum

Binance smart chain is really the future. I am only following the projects which are on binance smart chain becasue you do not have to pay hundred of dollars only to buy or sell the token as in ethereum block chain. The eth chain is also too much congested and need to scale.

  Binance Smart Chain is not Ethereum and Ethereum is not Binance Smart Chain. Why should BSC be the new Ethereum? They are completely different projects with completely different characteristics. The whole validator infrastructure is completely different for both projects. Why compare them to each other? What exactly is your point? 

[Abiky]

This will never be the case. Simply because clones never passed the original. The only thing Binance is thriving because its gas price alternatively low compare to Ethereum . That is it. Same goes to HECO as they use Solidity to make smart contracts.

In the strange and bizarre world of crypto, anything can happen. Binance Smart Chain could easily replace Ethereum if the latter doesn't stay ahead of the game. The longer devs take to scale ETH, the faster BNB will be able to catch up with it. People are tired of paying high fees on Ethereum for simple tasks like withdrawing tokens from a decentralized lending platform, or even trading tokens at Uniswap. Binance Smart Chain's ultra-low fees and blazing-fast transaction processing times makes it a much more attractive solution for day-to-day payments than Ethereum. Despite BNB's high degree of centralization, demand has soared like crazy over the past months. If this keeps up, BNB might "flip" ETH into becoming the world's second-largest cryptocurrency by market cap.

Nonetheless, there's healthy competition surrounding the market these days. Various crypto projects are gaining traction as people focus on both "De-Fi" and NFTs. It's not about Ethereum or Binance Chain, but rather all blockchains working together to make our world a better place. As long as the ecosystem remains decentralized, people will be able to escape from the current monetary system controlled by central banks and governments alike. It seems to me that ETH and BNB will co-exist for a very long time. Just my thoughts

[Digital_Lord]

Yes my friend, Binance coin has great fundamentals. It jumped from 30$- 300$ in a month and again 300$-600$ in 20 days. But as you know that Bitcoin has decreased a lot so all the altcoins with BNB has decreased 50%. So I think it's good time to full our bags with BNB. Hope it will be next ethereum soon.

[GelatikKembar]

yes Binance smart chain in my opinion is indeed a new ethereum in 2021, in 2017 many projects were born on the ethereum platform,
 and in 2021 they all turned into the year of Binance, yeah many big projects were born in binance,
this is why I made sure that Binance Smart chain will be a new solution for the crypto world