Binance Smart Chain vs Ethereum Cage Match (BSC/BNB vs ETH)

Davey
Welcome one and all, degens and day traders, veteran stakers and crypto curious rookies,
welcome to the slugfest that we’ve all been waiting for — Kris
— it’s the battle of the smart contract platforms, and there’s a been a bit of bad
blood between those two competitors recently Davey — Davey
— That’s right Kris, some fightin’ words and savage memes have been thrown between
the two camps. The crypto press have been building us up to this one, it’s been moved
to neutral ground in Belgium, and they’ve been billing it as The Tussle in Brussels.  Kris
No more time for words Davey, here comes Ethereum, with the entire DAO entourage in tow!  Davey
Entering the cage, it’s The Smart Contract Executioner, The Virtual Killing Machine,
The Grand Daddy of DApps — Ethereum! 
A big roar for Ethereum. 


Kris Look at that concentration Davey, Ethereum
isn’t here to mess around.  Davey
That may be so Kris, but neither is our challenger. We have a real SAFU pair of hands entering
the arena here! Floating like a butterfly, stinging like a BNB — it’s Binance Smart
Chain! 


Davey Did you see how fast Binance made it out of
the dressing room, Kris? Ethereum is looking sluggish in comparison!  Kris
Hold your horses, it’s what you do in the ring that matters, not how quickly you do
it!  Davey
Tell that to the people who are paying 100 dollar gas fees for transactions!  Kris
C’mon Davey, let's not turn this into a single-issue battle.

Ethereum is way more
experienced and has way more going for it than Binance Smart Chain. Besides, the potential
for speed is there, too. It’s just taking a while because so many amazing DApps want
to build on Ethereum.  Davey
Well I hope Ethereum finds some speed of movement tonight, because if it doesn’t, BSC might
cause it some Instant Finality… 

Kris Look how Ethereum is staring down Binance.
I’d be confident as well if I was backed by thousands of decentralized nodes, all spread
out around the world. The Ethereum juggernaut is virtually impossible to stop! How many
nodes does Binance Smart Chain have? 
 Davey
Binance doesn’t have nodes, it has validators.

And yes, it only has 21 of them, but these
validators are chosen by delegators from within the Binance Community, who have the freedom
to contribute to Binance Smart Chain’s open source code. So BSC isn’t entirely centralized. Kris
Whatever you say, my friend. Anyway, it looks like we’re ready for the moment of truth! Davey
Binance looking very quick on its feet here, but that’s the benefit of streamlining your
blockchain architecture – you can have a similar trading experience or smart contract transaction,
but much faster and for a fraction of the cost  Kris: That’s right, BSC’s Proof of Staked
Authority consensus is designed to combine the best of both the centralized and decentralized
world. Kris: But before you can have transactions,
you need users, and to get users, you need innovative products that solve real-world
problems. 

Davey: That’s a great point. The Binance community can talk about transaction
speeds all day, but the real innovation is still happening on Ethereum.

Huge DeFi protocols
such as Maker and Aave are almost too big to fail! 

Kris: It seems like a lot of
the apps that are built on Binance Smart Chain are just copies of things that have already
been done on Ethereum. Davey
Listen, a new blockchain needs to be able to walk before it can run, and besides, users
are flocking to Smart Chain apps like Pancake Swap because the trading fees are much cheaper
than they are on original decentralized exchanges such as Uniswap. 
 Kris: But how long will that last? Layer 2
solutions such as sharding and rollups, which move most of the computation off chain, already
exist. It’s only a matter of time until Ethereum’s improved Proof of Stake consensus
is fully operational, and when it is, they will still have the largest pool of blockchain
developers.

The biggest network is the one that enjoys the best network effects.  Davey
It’s not like Binance is just some
new kid on the block that is playing pretender to Ethereum’s crown. It’s one of the most
popular and trusted exchanges in the crypto space with millions of active users. And there
are over 60 million unique Binance Smart Chain addresses.
That’s quite the network effect! Kris 
Maybe so, but the Ethereum community
keeps moving forward! So-called Ethereum Killers have come and gone, and the OG of smart contract
platforms just keeps on rolling. There are almost 3000 DApps built on Ethereum, compared
to just over 300 on EOS, the nearest competitor. What makes you think that Binance will succeed
where others failed, Davey? 

Davey
Well, maybe Binance Smart Chain isn’t billing
itself as an Ethereum killer, but branching out to support more connections between different
apps and blockchains. Some Ethereum-based DApps such as Sushiswap and the IDEX exchange
have built out onto both BSC and Ethereum, so you could say that Binance is helping Ethereum
DApps to scale.



Kris
Hmm, I don’t know about that. What I do know is that this
fight is far from over. I’d love to know what our audience thinks. Binance Smart Chain
vs Ethereum: let us know in the comments which corner your money is on. Smash that subscribe
button and hit that like button for more crypto videos from Exodus.

.

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