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.
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
