Is Binance Smart Chain the "New Ethereum"?

[caffu chino]

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.

but what if BNB could do the same thing as ethereum in the future. doesn't BNB deserve to be called new ethereum". I see BNB is even more powerful than ethereum. their projects cover various things from Dapps platform, exchange, Launchpad platform and more. ethereum is big because it was released early, but if BNB and ethereum were released together, BNB might be the winner.

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[Tervelatuk]

In my opinion, Binance Smart Chain can't beat Ethereum. What makes BSC so interesting is when Ethereum gas fees were very high a few months ago. Therefore, BSC is a solution to overcome transaction costs and low transaction speeds.

although there alot project launched under binance smart chain platform it doesn't mean replace ethereum . As the smart contract pioneer ethereum have fanatic community which is will not leave it due other feature from other platform. The gas fee problem could solved soon in developtment that many times said by core team.

[bison]

In my opinion, Binance Smart Chain can't beat Ethereum. What makes BSC so interesting is when Ethereum gas fees were very high a few months ago. Therefore, BSC is a solution to overcome transaction costs and low transaction speeds.

But in the crypto world, anything can happen, my friend, Since the increase in ETH transaction fees, many statements have appeared about replacing ETH, and indeed many ETH users have switched to BSC, they still need a big pump if BSC wants to replace ETH, and in my opinion that is it can happen but it takes a long time.

[batang_bitcoin]

But in the crypto world, anything can happen, my friend, Since the increase in ETH transaction fees, many statements have appeared about replacing ETH, and indeed many ETH users have switched to BSC, they still need a big pump if BSC wants to replace ETH, and in my opinion that is it can happen but it takes a long time.

It was a solution when the days of Ethereum got high fees but I think that with the upgrades that have been done with the network of Ethereum, it has lessen the fees but people can't get over it as they still consider the fees too high.
But is 5 gwei still that much for them? sometimes I see it fluctuate from 5 to 41 gwei and despite that increase, I think that's still quite a discount for fees. I don't do that much transaction on BSC though.

[Bay_Harbour_Butcher]

new ethereum? Of course not, I think ethereum is still ethereum and binance smart chain will still be a binance smart chain, but I think binance smart chain is better than ethereum, because gas fees are much cheaper

[lenovop-70]

I must said BSC kill the high gas price by ETH network, and Binance is very smart to put BNB as gas in their transaction, then it is not surprising that the price of BNB rised dramatically in a matter of months.
But to make BSC the next ETH, it will be a long journey to get there. I think there are other platforms that offer almost the same service as what BSC did, such as TRX network. In this case, Binance has gain power to make BSC alive since it was the biggest crypto market in the world. So Binance is the soul from BSC, when binance stop doing improvement, the dream to make BSC as new ETH will just a dream, IMHO.

[Tessnik]

Binance chain is next to ethereuem chain. The blockchain network has been involving of late and that has resulted in so many developments which binance smart chain is the defi craze, just like the ethereuem boom of 2017.

Binance coin has all it takes for its price to go to $1000 in no time from now.

[sammy21]

In my opinion, both will go with their respective strategies, ETH is very strong in the crypto market, and BSC will be a choice or alternative for those who are burdened with high gas costs on the ETH network.

[Abiky]

In my opinion, both will go with their respective strategies, ETH is very strong in the crypto market, and BSC will be a choice or alternative for those who are burdened with high gas costs on the ETH network.

Both cryptocurrencies have their respective advantages/disadvantages. I've said this many times already. None can replace the other, because they serve unique purposes in real life. Comparing Ethereum vs Binance Chain is like comparing "apples vs oranges". BSC may be fast and cheap to use, but it's utterly centralized. Ethereum is decentralized, but it suffers from low transaction throughput and high gas fees. The person can use each Blockchain network's weaknesses to his/her own advantage. For short-term trades or micropayments, Binance Chain is the smart choice. But for sending large amounts of money across borders, Ethereum is the winner. How long will these cryptocurrencies last, is beyond me. What's important is not the cryptocurrency itself but rather the technology underpinning the cryptocurrency. Blockchain is what it's all about these days in order to make our world a better place. As long as Blockchain tech works as intended, nothing else matters. Just my opinion

[Rabi3]

binance smart chain is not ethereum. but more precisely ethereum competitors although not necessarily able to be in ethereum's position. because what we think today is that many projects are using the smart chain platform for their projects, giving rise to the perception that smart chain is the new ethereum

well, binance smart chain couldn't beat ETH yet, and i don't think it could, even with the really high fees in Ethereum network in it still maintained its spot, and the high fees can be fixed so it's really hard for BSC to overtake it, i think because BSC did not do it now it won't do after.

[guydin]

You’re definitely right that BSC is developing very rapidly, but I think it is due to low transaction fees compared to Ethereum. To my mind, it is not correct to compare these two blockchains  as they develop in completely different ways, moreover Ethereum is decentralised as opposed to BSC!

I think that as soon as Ethereum 2.0. launches and becomes more scaling, no other chains will be able to replace ETH.

[ansarose1]

Although it could be early to tell that binance smart chain could be the next ethereum, i think it could since it has a potential that de-fi brought and since it has the new trends now that has its own capabilities, i say that it can be the new ethereum because many crypto enthusiasts would use this type of crypto since ut has also a low cost transactions and furthermore it's volume would increase. But it is only my idea, we have different perspective and no one knows exactly what would be happening in the long run.

[OZmaster]

Although it could be early to tell that binance smart chain could be the next ethereum, i think it could since it has a potential that de-fi brought and since it has the new trends now that has its own capabilities, i say that it can be the new ethereum because many crypto enthusiasts would use this type of crypto since ut has also a low cost transactions and furthermore it's volume would increase. But it is only my idea, we have different perspective and no one knows exactly what would be happening in the long run.

It is just BSC and ETH is ETH. What I ask myself is what is the legal situation like for BSC? I know they claim that nothing could really happen since they have a diverse set of validators, but is that true? Are those validators known? Could Binance in any way be sued or forced to conduct KYC or AML procedures on the BSC chain?

[Kena Banned]

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

Its like Ethereum but cheaper and faster since its already implementing PoS mechanism, also its have another special fundamental like used on a Binance Exchange as fee transaction to get discount.
As long the DeFi tech implemented well, its will keep goin stronger in fundamental.

[poodle63]

Its like Ethereum but cheaper and faster since its already implementing PoS mechanism, also its have another special fundamental like used on a Binance Exchange as fee transaction to get discount.
As long the DeFi tech implemented well, its will keep goin stronger in fundamental.

I do agree, it seems as long as a chain offers defi capability and making it capable to scale for long term its enough, as we can see the recent NFT for example the games need really so much power of blockchain to just run one  and we havent seen this nft game hype on its peak, im sure in the future we gonna need more and more blockchain thats capable handling many transactions for defi and blockchain games purpose.

[masulum]

I do agree, it seems as long as a chain offers defi capability and making it capable to scale for long term its enough, as we can see the recent NFT for example the games need really so much power of blockchain to just run one  and we havent seen this nft game hype on its peak, im sure in the future we gonna need more and more blockchain thats capable handling many transactions for defi and blockchain games purpose.

Indeed, blockchain-based games have potential if developed by developers who are really serious about working on them. but, what is worrying is, the team only developed the project to follow the hype, but in the end the project has no certainty. This is something the community must pay attention to. Whether in ETH, BSC, Polygon or others, in the future, NFT or non-NFT based games will eventually not get community support so this becomes a dominant innovation controlled by projects that already have a lot of support, for example, Cryptokitty, Axie, Fara. New project need more innovations if wants to get more attantion from community, if it just similar, maybe it will be failed.

[bandungan]

BSC can be called the new ethereum because many projects use the BSC network. maybe on the basis of this what makes as a BSC is often associated with the new ethereum even though it is very different. so I think it's a different platform but with the same goal

[clarkt]

Binance chain is not new ethereum.  Binance has done well for it's coin bnb and for cryptocurrency in general.  Binance has one of the largest and secure cryptocurrency exchange and has been up and running since 2017 without major problem except for the hack that happened last time and it was decisively mitigated!  Now we know that your fund is safu!  Ethereum is however decentralised and people trust ethereum network more than binance chain!

[deathcode]

BSC can be called the new ethereum because many projects use the BSC network. maybe on the basis of this what makes as a BSC is often associated with the new ethereum even though it is very different. so I think it's a different platform but with the same goal

so launched with excellent momentum. BSC did get very good market enthusiasm. BSC adoption is increasing rapidly. even pancake swap is growing very fast.
but unfortunately, too many projects take advantage of this hype. As a result, more and more bad projects appear on the BSC market. hopefully, it will not have too big an impact on the growth of BSC in the future. Moreover, ethereum is also getting better with its updates which are always on hold.

[Gayong88]

I see BNB is more about superior features that are always presented to its users and BNB also has strong fundamentals both when BTC correction plus FUD is happening right now. For ETH I see it remains above BNB, For ETH is the king of altcoins after BTC.