Is Binance Smart Chain the "New Ethereum"?

[Abiky]

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

[jerrison]

There is no new ethereum as binance.The binance chain has remained its own chain and not  a competitor with ethereum, they stand alone on their own chains although they deployed the same EVM algorithms but i don't see no reason why they should be in any form of comaprism.

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

[Yogee]

....Is Binance Smart Chain the "New Ethereum"? Or is it too early to tell?

Binance Smart Chain is Binance Smart Chain and it will remain that way. They look similar to regular users but the two are different so I would never say it is the new Ethereum.

It will never be Ethereum if you just take a look at the number of nodes running each chain. BSC has a maximum of 21 validator nodes which they rotate while anyone can join Ethereum anytime.

Do you think it will replace Ethereum sometime in the future?

It already exceeded Ethereum in some aspects like number of daily transactions.

Are current prices sustainable in the long run?

It seems so if you combine the BNB tokenomics and BSC ecosystem. It's probably still undervalued.

[DaMut]

it is too early to say that, just a few hours ago there was a backlog in Bsc network. it means it still has the same issue with its scaling ability, I highly doubt Bnb will replace Eth considering this problem.
still waiting the update on Eth 2.0, can it solve the scaling and high fee issue? we can make a conclusion after we see the upgrade, if it does more good then Eth will remain the same but if it does not then we can consider it again.

[Charles-Tim]

There is no new ethereum as binance.The binance chain has remained its own chain and not  a competitor with ethereum, they stand alone on their own chains although they deployed the same EVM algorithms but i don't see no reason why they should be in any form of comaprism.

The price of ethereum did not just increased significantly as you think, the ERC20 tokens including DeFi really helped ethereum, also is binance coin, binance coin did not just increased significantly like you think, one of the reasons it increased significantly in price is because of the BC and BSC. Did you think pancakeswap exchange just become the first at the time BSC was launched and it supported it? No. I see binance coin for these reasons to be ethereum competitor. 

[asriloni]

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 could be true. Binance is fully ethereum compliant blockchain and any feature that available on ethereum can also be implemented on the binance as well. I think binance is the new ethereum for now. It's not even too early to tell about that.
I think binance has a chance to replace ethereum but the gap between binance and ethereum on marketcap is too far. that will be quite difficult for BNB to surpass it.
Binance to tripled its price. BNB will get a small dump due to the people sell on the news but the binance price can sustain in the long run.

[fosco333]

I think there are many projects changed their token blockchain from erc20 to bep20 already.
This is because the gas fee on ethereum blockchain, and for me, i don't want to spend high gas fee too.
So, BNB is not the new Ethereum, BNB is different than other Ethereum-like coins (coins with the same algo with ethereum) in cryptocurrency. You don't need asic to mine BNB, validators only need BNB coin to get the reward.

[Iceblast]

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

[TastyChillySauce00]

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.

[Zotak337]

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.

What will be the fate of BSC once Ethereum solved the high gas fee? Some projects will still move back to ETH2.0 after launch because that's something BSC won't have, I think BSC will reign temporary but the real winner will be ETH

[mersal]

Its the actual ethereum killer, almost every new projects wants to create their project on BSC because the fee on BSC is cheap while on ETH it is insane so why not. But Ethereum 2.0 also is in the development progress so these new projects may be suitable for short term but in long term nothing is predictable and if I asked to choose either on of these then I will pick ethereum because it is decentralized.

[hugeblack]

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.

[SistaFista]

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

Indeed, many new projects has been created in binance smart chain blockchain.
But we should stay aware, because there are many scam projects as well in bsc. DeFi projects is very popular nowadays, the rug pull type scam projects are exist, they can remove the liquidity on dex exchange and leave investors, buyers and holder with token with no value.

[Fivestar4everMVP]

Well, in as much as I would like to say yes, I still think that binance(BNB) still owes Ethereum for the growth which she has witnessed in the last couple of months, I still think that if not for the scalability issues on Ethereum blockchain, binance smart chain wouldnt be witnessing the growth she's seen in the last months up on till now, we all know that Ethereum blockchain is far far much more better than binance smart chain when it comes to building of dapps and other smart contracts,, but due to the high fees that trouble Ethereum blockchain, alot of projects are running to binance smart chain for the short term solution, I bet binance smart chain can't even take up to half of what is already running on Ethereum's chain without it collapsing.

But anyways, I think Ethereum is ethereum and binance is binance, the two should not be compared cus they are two different blockchain softwares.

[RussianEnglishTranslation]

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 having it's day in the sun due to gas fees. Those fees will be resolved this summer with the London upgrade.

[cryptosmartmoney]

Will BSC be able to compete with ETH on security?

It seems that many platforms are still not accepting BSC to transfer assets....

[cryptoaddictchie]

Will BSC be able to compete with ETH on security?

It seems that many platforms are still not accepting BSC to transfer assets....

Well we all knew that eth still is more secure. Bsc network is just new and you can say that it still prone to some attack and we don't know the security aspect that CZ puts on their smart chain. But I'm sure they can solve it if ever problem occurs. I really looking forward that one day bsc can be accepted to all other firms such as eth and btc.

[ElaineGanda]

No really. Binance is now the new ethereum, rather it is next to ethereum. Those two unique smart chains have their own nature when it comes to their services. Yes, they are both smart contracts but they have their own specific set of customers and purposes that is why it is a waste of time to compare those two great smart contracts.

[lobo13hf]

Will BSC be able to compete with ETH on security?

It seems that many platforms are still not accepting BSC to transfer assets....

It will not caused by BSC totally centralized chain while ethereum fully decentralized chain. Another exchange site needs the time to add BSC asset.
FYI the exchange site will be adding the BSC asset when it meets the requirements to be listed on such exchange site but when it doesn't meet requirement and can you expect exchange site to add it?
It's not about blindly adding BSC asset into the another exchange site. It will never happen.
There are lots of scam BSC assets as well.

[susuberuang]

I think it is too early to say if binance is a new etherem, even though nowadays etherem users have switched to the BSC smart network a lot, because ETH transaction fees are very high compared to BSC, but I am sure that etherem will fix that problem and can attract interest.  crypto users again,