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For anyone on the fence due to the recent BNB price spike, BSC is just Ethereum with a higher gas limit at the expense of centralization. Don’t be fooled into thinking it’s better or that Ethereum is “outdated tech”, Ethereum has the most developers working on improving it by a very wide margin.

I’ve noticed a lot of people suggesting Ethereum is outdated tech and that BNB is the future because it has lower fees. That couldn’t be further from the truth.

BSC is an Ethereum clone and all they did to reduce fees was increase the gas limit. That means that more transactions can be processed for lower fees but it requires more powerful hardware and thus more centralization. Ethereum could do this in 10 minutes if they thought that was beneficial to the network but they haven’t because doing so would break a lot of the decentralization and security of the network.

Ethereum is so widely used and trusted **because** it is so decentralized and secure.

Ethereum has the most developers and researchers working on it than any other blockchain project by a very long way which means it is literally the bleeding edge of crypto tech. The Eth killers have a long way to go to knock it off as king of DeFi.

That’s not to say that ADA and DOT aren’t very promising projects but putting BSC/BNB in with them is almost laughable. It’s just a clone! It will always be behind.

Check out Ben Cowen’s recent [fundamentals video](https://www.youtube.com/watch?v=NguprqQyUDo) to understand a bit more.



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24 Comments

  1. And if people believe decentralization is just a nice-to-have, this space would not exist without it. If Bitcoin had been created as a centralized web app on AWS it would have been stomped to death and censored years ago and suffered multiple outages.

  2. Ill be honest I’m in BNB only because it is binance, whether you like it or not Binance is turning into an Empire.

    And this time I’m choosing gains over technology.![gif](emote|emo_pack_1|dyor)

    I believe Binance is going to be the Google/ Amazon of crypto even if it’s against most of crypto principles…

  3. You’re entirely right, the question now becomes do people on a large scale actually care about decentralization? Do we just move from one central owned banking system to another?

  4. What I like about BSC is that I can dump small investments ($10-15) into legitimate moonshots with minimal risk. I can’t really do that with Ethereum.

    However, I’m not afraid to use Ethereum for projects I truly believe in. I just won’t use it for overly high-risk moonshots.

  5. I think decentralization is extremely undervalued right now. There will be lots of centralized chains, and BNB will be one of them, there is nothing unique about it and it will face a lot of competition. But a few years from now only one smart contract blockchain will offer true decentralization, high TPS rate and low transaction fees: Ethereum.

  6. The thing is that BNB lowers the fees on Binance. So I see demand being there regardless of the price. If it’s $400 I don’t see why people won’t put 100 in no matter the price.

  7. It’s just an ETH copy without miners to pay. After Ethereum 2.0, it should lose a significant part of it’s attraction. It does show the need for decentralized smart contracts without large fees.

  8. Nobody cares about decentralisation until it is their funds that are frozen or their money that they can’t withdraw.

    Wake up, people. Binance is the RobinHood of crypto – the GME saga is exactly why we need Decentralised Finance.

  9. HM strange that eth seems to make progress so slowly, eth 2.0 seems to be taking forever. When as far as i know there are other block chains that can already do its job better ATM its should that eth was first and has a massive advantage due to network effects. Then again I’m not a expert and maybe there is a good reason and explanation but to me it seems silly.

  10. we are being charged up to $80+ dollars to to do anything which makes small investments into crypto unfeasible. At the moment it IS outdated by BSC, only absurd binance haters are defending eth at the moment. yes simply stating being unhappy at $80 fees brings downvotes from eth fanboys. that’s how bad the tribalism is.

  11. Yall should read the Bitcoin white paper. The thing that has given Bitcoin its worth and value is its decentralization aspect. Not some high performance centralized database. If you don’t know now ya know…

  12. If the average consumer was driving his car down the road and there were two gas stations. One on each side of the road the left station says gas=$1.00/gal second says gas=$9.50/gal but the gas station across the street copied our formula. Where in the hell do you think they are going to pull in? It’s pretty simple most people are going to choose lower fees they don’t give two shits about “tech”

  13. No one is buying BNB for the same reasons as ETH though. Hate Binance, but they’re smart in how they reward BNB holders and that right there is the reason for the price.

  14. BNB is only useful as a shitcoin delivery device. Buy BNB, use Pancakeswap to convert BNB to your “deflationary autostaking community-driven project” of choice, lose your money when the project dumps, rinse and repeat. Lower gas fees with BNB means you’ll go bankrupt only due to your own poor decisions rather than because of network congestion.

  15. You’re completely misunderstanding the entire point of cryptocurrency if the phrase “at the expense of centralization” doesn’t instantly turn you away from a project.

    If you believe ethereum’s “tech is outdated,” again… you don’t understand cryptocurrency

    I know it sounds condescending but It’s really that simple.

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