Quote from: Abiky on July 22, 2021, 01:36:39 AM

Quote from: guydin on July 17, 2021, 09:32:40 PM

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.

Exactly. ETH's main selling point is decentralization. While Binance Chain is faster and cheaper to use, it's subject to the risks of a single point of failure. Most people don't care about decentralization these days as long as the cryptocurrency they're investing into brings them a lot of money in the long run. Expect to see BNB go higher in price and mainstream adoption as our society puts convenience/ease-of-use on top of everything else.

I'd say that Binance Smart Chain is the "New Ethereum" because most projects are "flocking" from ETH to BNB. Binance's "pet project" has been advancing at a very fast pace, as ETH's struggles to meet with today's demands. If this keeps up, BNB could replace ETH becoming the world's second-largest cryptocurrency by market cap. Hopefully, decentralization will prevail as ETH makes strides with network upgrades that will keep its position on the market for a very long time. Just my opinion

I would not say it is the new Ethereum. The question is like asking "is Ferrari the new Jeep?". For now it seems BSC is the better choice as there are no obstacles, no issues arise and Ferrari does just fine. But what if we get into shallow waters or hilly areas, would you want a Ferrari or a Jeep? The financial crisis gave reason for Bitcoin to emerge at the right time in the right environment. People started understanding why Bitcoin does make sense. Now they slowly but surely tend towards using more centralized architectures again. But only until the next lesson happens. I am not saying BSC is going to fail, but it is part of a process to strike the right balance for the world we are living in right now and the conditions it depends upon.

It's like Fukushima when right afterwards the whole world started discussing ending nuclear energy consumption and push for renewables. Or let's wait until USDT Tether implodes and people will never touch a centralized stable currency again, at least for a while. Ethereum is the Jeep, and a Jeep has its merits, but maybe not right now.