Will BNB Chain Surpass Ethereum?

[Mika]

Recently, Binance united Binance Smart Chain and Binance Chain under one name BNB Chain. In doing so they also rebranded Binance Coin as BNB. This move was taken in order to reflect their native currency in their ecosystem. BNB stands for Build and Build, which is a gas token to fuel transactions on BNB Chain.

Binance blockchain is now competing with Ethereum as one of the most popular blockchain platforms for developing decentralized projects. BNB Chain is evolving as an Ethereum Alternative for smart contracts due to being cost-efficient. BNB Chain is compatible with Ethereum Virtual Machine, therefore, a transition from Ethereum is very easy. Some of the popular Dapps on BNB Chain are PancakeSwap, CryptoMines, BinaryX, etc.

Tokens created on Ethereum blockchain are called ERC20 and tokens created on BNB Chain are called BEP20. Creating tokens on BNB Chain is very easy compared to Ethereum or Tron, that’s why over the last few years Binance is evolving as a better alternative to Ethereum.

Which is better ERC20 or BEP20? When you perform a transaction with ERC20 token, you pay ETH as gas fees, and when you perform a transaction with a BEP20, you will pay gas fees in BNB. Since the Ethereum gas fee is higher than NBN, many people are choosing BEP20 over ERC20.

 

[cashisking149]

It's some way from competing with Ethereum for now but it is well poised to be the closed competitor I'd think. That being said, the longer Ethereum takes to move over to PoS and reduce those god awful fees the longer the window of opportunity for others to make up ground exists.

 

[Jasmine]

I think BEP20 is better than ERC20, BNB chain is better than Ethereum. My opinion is purely based on one simple fact, the gas fee. While you will have to pay a lot of gas fees in Etherem, the gas fees n BNB Chain is very small, when I say very small, I actulaly meah very small. Die to its nominal fee, I think a lot of tokens will move to BNB chain. I also believe a lot of new projects will start using BNB chain instead of Ethereum blockchain. If the gas fees on Ethereum continues to be very high, I don't see much prospect with Ethereum blockchain. Sooner or later developers will move away from Ethereum unless Etereum does something to reduce the gas fees. If you enter into the BInance ecosystem, there will be no need for other patforms, you can use BNB Chain and invest in BNB coins, you can stake your coins on Binance or trade cryptocurrencies on Binance. In have not checked Binance NFT marketplace yet but I hear ever since it was lunched, Binance NFT marketplace is already gaining a lot of interest. If you are interested in NFT, you can try Binance NFT.

 

[soxcryp]

They are a very robust pair of containers and consequently makes it very difficult to specify a satisfactory answer to the question. Since, on the one hand, Ethereum supports a large conglomerate of very successful projects, but, on the other hand, Binance provides mobility (fluidity of cryptocurrencies) to many of them, as well as to other important projects.

 

[gmrcrypto]

Sure it will as eth has high gas fee while bb isn't