Is Binance Smart Chain the "New Ethereum"?

[vabchgent]

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.

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.

Decentralization becomes ever more important with the size of the network and the money that is on the line. The last thing you want is nodes being able to collude and harm the network.

[Abiky]

Binance is a centralized chain it is not decentralized like Ethereum. The source code of Binance is improved and everything on the BSC chain is copied and developed on projects from Ethereum.
The value of BSC is driven by cryptocurrency exchange Binance and DEFI on BSC.
BSC is something that looks like Ethereum but is not a new Ethereum. People come to BSC for-profit and cheaper transaction costs.

There's no doubt about that. Unfortunately, most people don't care about decentralization. They're only into crypto to make money in the least time possible, even if what they're investing into is utterly centralized. Convenience/ease-of-use is what matters most these days. It's no wonder why Binance Coin went all the way to the top within such a short amount of time. It became the third-largest cryptocurrency by market cap after Ethereum. Imagine how far BNB will go if Ethereum continues to experience network congestion. If developers don't scale ETH quickly, BNB could become the "New Ethereum". There are already many exciting projects building on top of BNB, so it has all it takes to replace Ethereum in the future. Only time will tell us if this will happen or not. Just my thoughts

[enawati]

I have seen many project moved from Ethereum blockchain to BSC because reason of high fee transaction, so Binance maybe has chance to surpass Ethereum based on marketcap and ecosystem. But BNB still hard to do in this bull cycle, maybe BNB will have chance to surpass ETH in another bull cycle, this is according to how next development of both project will run. If ETH 2.0 release and the high cost of transaction fee and network congestion fixed, that mean no room for BNB will surpass ETH.

[vabchgent]

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.

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.

I like that about Vitalik. He isn't a hater of Binance Smart Chain or any other project, but he has a vision that is all about decentralization and he doesn't sacrifice Ethereum's vision for short term gains. He sticks to his opinion even though this might mean delays in terms of upgrades for Ethereum and not the best public perception of Vitalik and Ethereum temporarily. The fees put Ethereum in a bad spot, but improvements will come eventually.

[Coroline]

I have seen many project moved from Ethereum blockchain to BSC because reason of high fee transaction, so Binance maybe has chance to surpass Ethereum based on marketcap and ecosystem. But BNB still hard to do in this bull cycle, maybe BNB will have chance to surpass ETH in another bull cycle, this is according to how next development of both project will run. If ETH 2.0 release and the high cost of transaction fee and network congestion fixed, that mean no room for BNB will surpass ETH.

It's just a matter of time, whether ETH 2.0 will be released soon and resolve existing network congestion and overcome high costs. If Vitalik doesn't finish this soon, maybe as the OP said it could be BSC beyond this. BSC is really interesting once in a year experiencing a tremendous surge once and boosting the BNB coin. Time will tell all, there is no room left to speculate which one is better.

[Darktongue]

We are waiting to see the next bullrun where the Ethereum smart chain is the king and won't be replaced by any altcoins. Ethereum GWEI rate falls to 5 at some random times. Binance smart chain can't be the next Ethereum because this chain is just copying everything from Ethereum. If this GWEI stays stable, the Binance chain will lose all of the new users.

[viananda2525]

We are waiting to see the next bullrun where the Ethereum smart chain is the king and won't be replaced by any altcoins. Ethereum GWEI rate falls to 5 at some random times. Binance smart chain can't be the next Ethereum because this chain is just copying everything from Ethereum. If this GWEI stays stable, the Binance chain will lose all of the new users.

its not copy past ethereum blockchain , but binance smart chain developt it to recover the weakness of ethereum. as we know crypto community complaining about transaction fee in ethereum network few months ago, and bsc could resolve this problem well. ethereum and binance smart chain will be have good competition to give best solution in blockchain platform.

[m.rifki]

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.

Sorry, but I think that sounds like too high expectations, binance is growing well but to replace eth and btc in such a short time seems too much.

[Fredomago]

Everyone is talking about this, for young projects with a small budget, this chain is the best, since the commissions are small and their cost is like on the ether chain of the year 2017. I believe that in the future the price will rise, so it's time to keep your assets in this chain. New tokens may well give us profit in it.

If you don't need your investment and you have a good amount of spare money, keeping your asset inside this chain probably will give a good value in the long run.

We've seen same path withing ERC system and developers are now using this platform to create their tokens, if you can wait then for sure there's a lots of positive impacts to your invested money.

Choose the right assets and make sure to follow the development both BSC and the coin that you store on it.

[junkerr]

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

I agree with you, because I think BSC and Ethereum are different, so I don't agree if BSC is the new Ethereum, because Ethereum will still exist until whenever, so in my opinion BSC is just a competitor to Ethereum and not a replacement or successor to Ethereum, even I believe Ethereum will still be more popular than BSC in the future.

that's probably because BSC is indeed the result of the development of the current ethereum network. BSC developed its network based on what ethereum already built. but BSC managed to develop it better.
the adoption of a new project is currently considered to be bigger than ethereum BSC. but clearly, they are different, ethereum still has the upper hand in today's market.

[andyou1234]

Binance is indeed developing very well, but the ethereum still has an advantage in the current market, I think the bsc should improve its capacity even more, so that the bsc can survive because it is very difficult to match the achievement of the eth which has been in cryptocurrencies for a very long time , what is clear is that Binance is an investment with a great potential in the future,,,

[Baimovic]

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 we know that trading volume on BSC is increasing rapidly due to low fees and transactions that tend to be faster, then will BNB be like Ethereum in the future? If we look at the movements that occur in BSC, of course I also think that in the future BNB will be like ethereum but if that is the case, of course the fees will not be cheap anymore.

[geegaw]

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

I agree with you, because I think BSC and Ethereum are different, so I don't agree if BSC is the new Ethereum, because Ethereum will still exist until whenever, so in my opinion BSC is just a competitor to Ethereum and not a replacement or successor to Ethereum, even I believe Ethereum will still be more popular than BSC in the future.

Different in name and unique contributions but Binance is stepping into a new role, even though they are still parasitic coins on ethereum but they also want to separate and create a system of their own, with such a development, only if binance successfully develops an independent system, the competition with ethereum will become even. Ethereum with its popularity from the past, it certainly still has a chance but the cost incurred is still a huge consideration for users while BSC Chain is a more balanced version

[OgNasty]

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.

I think BNB will never beat ethereum and bitcoin. Extra hype of some coins can be seen during each bullrun. This is exactly the hype of BNB and DogeCoin during this bullrun. This can be understood by looking at the current crypto market.

Binance is starting to see some regulation issues and I imagine that will only continue to get worse.  While this might have an effect on demand for BNB, the demand that is created by Binance for BNB is something that isn't present in the Ethereum space.  For that reason, I could see why from an investment perspective BNB would outperform ETH, but you also have to remember that BNB might have more real demand, lower fees, a better user experience, and a massive company behind it; it still is a centralized plaything and not Ethereum or Bitcoin.  Luckily, during times of bubbles the money that's being poured in is clueless to these sorts of things, so buying BNB would seemingly be a nice trade to make here.  It also can be staked currently for about 3x the return of ETH, which is another potential draw for fresh money.

[imstillthebest]

Vitalik and his team better hurry up on scaling Ethereum before it's too late.

seems vitalik and his team are not in a hurry because there are still some issues left in their eth .
are they letting bnb to take over ? maybe there are negotiations between cz and vitalik that we dont see .
binance smart chain is a new implementatiom of binance team but it was not the new etherium and if there are new etherium that would be the eth 2.0 that is currently under way .

[hamba laeh]

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 also think Bsc will replace ethereum in the future if ethereum does not recover high transaction fees till now. then the role of ethereum will be replaced by bsc which has very low transaction fees. because traders will look for platforms that have low transaction fees to be able to make transactions.

[dunfida]

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 also think Bsc will replace ethereum in the future if ethereum does not recover high transaction fees till now. then the role of ethereum will be replaced by bsc which has very low transaction fees. because traders will look for platforms that have low transaction fees to be able to make transactions.

Not wont really be that easy for BSC but only this project or coin i do see that has potential on soaring up that high in the future considering into its utility the the number of projects are starting to bloom out then

it would have that possible chance but it wouldnt be that easy.Trying to compare about numbers then imagine on how many projects that do attached with Smart contracts?

This is something that cant be just taken down into the ranking on the entire market but who knows on future years to come.

[Samurai trieng]

Indeed, the bsc is one level below the eth, and the growth of the bsc is also very promising, but BSC cannot easily outperform the eth because the etherem is an altcoin that is already very strong and has a very large community in the world, especially now that the etherem transaction fees are falling, of a course it will has a positive impact on the development of the eth in the future,,,

[BigBos]

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.

I think BNB will never beat ethereum and bitcoin. Extra hype of some coins can be seen during each bullrun. This is exactly the hype of BNB and DogeCoin during this bullrun. This can be understood by looking at the current crypto market.

well, not really. We don't know what developments CZ will make to make Binance a popular coin in the future. in fact, we can now see the progress of catching up with ethereum very quickly. maybe, for now, the price is still far less than ethereum. but, I'm pretty sure, in the future, the price of BNB will definitely be close to ethereum, and even its functionality will also be more than ethereum.

[sulis sudibyo]

there is no new ethereum because there is only one ethereum and nothing will ever be like it. so bnb is not the next ethereum. bnb and ethereum are very different. bnb is getting big in its own way. it is difficult and impossible for other altcoins to become the next ethereum because it takes a huge success to be recognized as the next ethereum.