Altcoins Talks - Cryptocurrency Forum

Cryptocurrency Ecosystem => Binance Smart Chain + Ecosystem => Topic started by: tonymillions84 on June 26, 2021, 01:15:04 AM

Title: Sudden Migrant of New projects into BSC
Post by: tonymillions84 on June 26, 2021, 01:15:04 AM
Did you guys noticed how current projects are developing in the BSC chain. will Binance chain withstand the huge migration? what that is been designed in Bsc WILL still be credited to ethereum as the founding place for smart contract. there may be a huge movement back to ethereum after the upcoming fork next month. hopefully, that might triggered the bull run on etherum.


Title: Re: Sudden Migrant of New projects into BSC
Post by: Bobcrypto on June 26, 2021, 07:13:58 PM
I think it is not a good idea if all new start up projects are concentrated in one network causing a big network traffic and transactions delays every time. I like the coming of the Binance smart chain, and how it has become a good competitor to the ethereum platform dominance on smart contract and Dapp. No matter the popularity of the ethereum smart chain, we have got a very big alternative to smart contract platform and Dapp. I just hope the Binance smart chain will keep expanding to accommodate the high inflow of new start up projects.
Title: Re: Sudden Migrant of New projects into BSC
Post by: zilzylian on June 27, 2021, 01:50:03 AM
Many projects moved to the BSC network because the fees there are lower, but now the transaction fees on the ethereum network have dropped and are starting to normalize, I think before the ethereum fork we have seen a significant change in ETH gas fees.
the ethereum fork could trigger a bullrun for altcoins but we need to look at some important important factors like Bitcoin price and other information from several countries about the rights
Title: Re: Sudden Migrant of New projects into BSC
Post by: Review Master on July 03, 2021, 05:54:36 PM
TBH, more BSC based projects are migrating into polygon because of the hype as well as lower transection fees than BSC. But it's true that ethereum is going to have hardfork to implement the EIP1559 which would solve the huge gas fee and many projects are getting more TVL in their projects because of that. But BSC won't loss it's popularity at all because of CZ's marketing strategy. But lets see which chain would have the most TVL in the long run.  ;)
Title: Re: Sudden Migrant of New projects into BSC
Post by: jonathancool220 on July 05, 2021, 12:23:30 PM
There have been a lot of coin migrations from ERC20 to BEP20 and I like this because it's really great for Binance Smart Chain to adopt all the coins that are already circulating on the ERC20 network.
ERC20 has a very high level of GAS fees and this is really not liked by investors, so all ERC20 lovers turn to BEP20 from Binance Smart Chain.
Title: Re: Sudden Migrant of New projects into BSC
Post by: bitcoin-shark on July 12, 2021, 09:39:16 PM
the reason for this migration of many projects from eth to the bnb / bsc blockchain is only one and that is that on bnb the transaction fees are still low, reasonable when the eth fees return to normal, most of the projects will return there
Title: Re: Sudden Migrant of New projects into BSC
Post by: Terrasin on July 17, 2021, 03:50:38 PM
the Wall Street Journal reported that Binance had hired Brian Brooks, a former top lawyer at Coinbase and acting head of the Office of the Comptroller of the Currency (OCC), to be its new.
Title: Re: Sudden Migrant of New projects into BSC
Post by: Alcor on July 20, 2021, 09:10:21 AM
Almost all new projects now use the BSC platform, which is essentially a copy of the ethereum platform, with an improved transaction fee system. After the London hard fork on August 4th, this problem should be fixed and the ethereum network should look even more preferable in the future. Moreover, certain difficulties with regulators are now beginning on the Binance exchange.
Title: Re: Sudden Migrant of New projects into BSC
Post by: hobo66 on July 23, 2021, 10:13:34 PM
BNB fee is less so many projects are migrating from ethereum to Binance Smart Chain network and many projects are using both networks. BSC's network transaction fee is less and transaction speed is fast While Ethereum's network's fee is greater and speed is slow with respect to BSC.
Title: Re: Sudden Migrant of New projects into BSC
Post by: UNIVERSE on August 03, 2021, 11:49:29 PM
That's right. many new projects are migrating or using Binance Smart CHain recently. It is because they will prefer the token that offers lower fees of transferring. It is also considered that BSC is more secure and we can create very easily on this platform.
Title: Re: Sudden Migrant of New projects into BSC
Post by: TomPluz on August 06, 2021, 06:10:46 AM
I think it is not a good idea if all new start up projects are concentrated in one network causing a big network traffic and transactions delays every time. I like the coming of the Binance smart chain, and how it has become a good competitor to the ethereum platform dominance on smart contract and Dapp. No matter the popularity of the ethereum smart chain, we have got a very big alternative to smart contract platform and Dapp. I just hope the Binance smart chain will keep expanding to accommodate the high inflow of new start up projects.

The new updates in Ethereum can be helping a lot lower the transaction fees which has been the very main reason why many projects migrated to Binance Smart Chain. Now, I think BSC is also doing fine but it can be reaching its peak limit so it must do something about it. the way I am seeing it is that many projects can be available in both networks as certainly both got huge following and users so they are going to be taking advantage of both Ethereum and BSC.

Title: Re: Sudden Migrant of New projects into BSC
Post by: vegasus on August 17, 2021, 11:27:57 PM
Actually this thing may be influenced by the high fees that are sometimes offered by the Ethereum platform. We know that the gas fee to transfer ERC20 tokens when the Ethereum is rising so highly is very high, it is more than hundreds of gwei.
That is why I am sure that many projects are thinking about this again someday. And they will prefer to turn to BSC that is more affordable.
Title: Re: Sudden Migrant of New projects into BSC
Post by: damsix on October 25, 2021, 07:41:51 AM
Projects developed on the Binance Smart Chain chain are really fast-paced and even many people are now switching from the Ethereum chain project to the Binance Smart Chain.
We don't need to worry about this because this is purely a cryptocurrency cycle that can give something called a surprise and of course I also believe that Binance Smart Chain in the future will be loved by the cryptocurrency community.
Title: Re: Sudden Migrant of New projects into BSC
Post by: Dreamer on October 25, 2021, 11:01:01 AM
I think the biggest reason is cheaper fees in the Binance Smart Chain network and quick transactions compared to the Ethereum network. Many traders and investors need ease in the project tokens that they invest their money in, so they like how it's cheap and quick in BSC tokens than ERC20 tokens and that is why many projects have migrated to BSC so they can attract many more investors.
Title: Re: Sudden Migrant of New projects into BSC
Post by: IyemRoker on October 29, 2021, 06:06:20 AM
There are so many factors that everyone trades to Binance Smart Chain which allows their assets to also all move to Binance Smart Chain, this is just my guess because I see the growth of Binance Smart Chain so very fast.
Binance Smart Chain has been tested with a CEO who is very active in promoting Binance coin and then the CEO also has a marketcap site that is often visited by everyone, and there are still many features of Binance Smart Chain.
Title: Re: Sudden Migrant of New projects into BSC
Post by: Google+ on October 29, 2021, 06:50:34 AM
In my opinion, many switch to the BSC network because of the very low transaction fees and of course having a very strong network because it is proven when making transactions using the BSC can provide very good delivery speeds and can provide many benefits.
Title: Re: Sudden Migrant of New projects into BSC
Post by: Sumi on October 29, 2021, 01:38:51 PM
How many projects moved to the BSC network because the fees there are lower, but now the transaction fees on the ethereum network have dropped and are starting to normalize, I think before the ethereum fork we have seen a significant change in ETH gas fees.
the ethereum fork could trigger a bullrun for altcoins but we need to look at some important important factors like Bitcoin price and other information from several countries about the rights
Title: Re: Sudden Migrant of New projects into BSC
Post by: Bobcrypto on November 05, 2021, 08:16:35 PM
Binance chain will continue to attract new projects because of the following reasons,
1. Transaction fees. Binance smart chain transaction fees is very low compared the to ethereum chain. Many new project wouldn't want to be hindered with high transactions fees because the want new users and investors.
2. Most features on other networks like ethereum, polygon etc are also obtainable on the Binance network.
3. The Binance as an exchange is a popular exchange that has attracted huge investors, traders, and it has large community of users world wide.
Title: Re: Sudden Migrant of New projects into BSC
Post by: TERMINO on November 06, 2021, 02:48:00 AM
I think projects that are developed in BSC will not change to erc 20. Instead they will expand their community and probably will do bridging to cater all different kinds of blockchain users. Team knows exactly the best move to implement with enough knowledge to detect which is better and which is not applicable. BSC is big same to eth. Bridging is the key to connect both without missing the link.
Title: Re: Sudden Migrant of New projects into BSC
Post by: Afony on November 06, 2021, 07:17:57 AM
There are projects for which there are a lot of platforms and this attracts most investors in terms of not using one platform but several. BSC attracts with its stability in terms of cheap transactions on the network.
Title: Re: Sudden Migrant of New projects into BSC
Post by: Zezari on November 06, 2021, 07:46:59 AM
Many projects are already moving to the BSC platform, a very cool and convenient platform on which cool projects have already been developed that need to be invested. In my opinion, the BSC platform is a competitor of Ether, which will fight for the right to be the first in the field of cryptocurrency.
Title: Re: Sudden Migrant of New projects into BSC
Post by: Goldlife on November 14, 2021, 09:03:40 AM
Did you guys noticed how current projects are developing in the BSC chain. will Binance chain withstand the huge migration? what that is been designed in Bsc WILL still be credited to ethereum as the founding place for smart contract. there may be a huge movement back to ethereum after the upcoming fork next month. hopefully, that might triggered the bull run on etherum.
Many projects moved to the BSC network because the fees there are lower, but now the transaction fees on the ethereum network have dropped and are starting to normalize, I think before the ethereum fork we have seen a significant change in ETH gas fees.
the ethereum fork could trigger a bullrun for altcoins but we need to look at some important important factors like Bitcoin price and other information from several countries about the rights
Title: Re: Sudden Migrant of New projects into BSC
Post by: masudginanjar on November 16, 2021, 03:03:43 PM
When many Ethereum projects with the ERC20 token type were created in 2017 to 2020, everyone was competing to create very good projects based on Ethereum coins.
Then followed by Binance Smart Chain, which at the beginning of 2021 was really very, very perfect in mastering the cryptocurrency market.
But Binance Smart Chain has rivals like Solana, Polkadot and Matic, don't forget this !!
Title: Re: Sudden Migrant of New projects into BSC
Post by: silkytakyaan86 on November 27, 2021, 06:03:54 PM
Yes you are right. These days new projects are moving towards Binance Smart Chain. Because its fee is also less. And people's faith in it is increasing. And its developing.
Title: Re: Sudden Migrant of New projects into BSC
Post by: Bobcrypto on November 28, 2021, 10:17:20 AM
In addition, it is not even proper for all projects even the erc20 tokens to be concentrate on one network. Besides the a network congestion, due to many projects inflow, there is no room for competition, and the result is high network traffic, market monopoly, and higher transaction fees. The coming of Binance smart chain is a good development, at least, to ease the Ethereum network congestion and high transaction fees experienced this days. I think that the launching of more Blockchain networks on the crypto ecosystem is good for further crypto development and growth.