THE RUSH ON Binance smart chain

[@chison]

It seems one of the best things happening to crypto right now is the binance smart chain. Cost of gas is between 0.01$ to 0. 0.06$ . It is really good to have competition because eth gas price won't go down that much if no competion

[edmundo]

It is quite understandable as to why most projects are increasingly turning to the Binance smart chain. It is highly efficient, smooth and cheaper compared to most platforms out there and with Binance's plans to full interoperability, the Binance smart chain will undoubtedly become one of the best blockchains. Also, binance's continuous seed funding support for entry projects mean there is a possibility of some of these projects obtaining developmental funds from binance should they offer an attractive innovation built of the binance blockchain.

[gotbounty]

Yes, it is true, how does BSC haver is one of them to be an alternative for all people who want to make transactions but object to fees. And of course, this is easy too. But on the other hand, it is new and we don't know yet if it will be as effective as BSC.

[Uplifted]

Yes, this is a very good observation and it is really great cause Binance smart chain transaction fees are way lower than the Ethereum network which is a major factor to consider. Most times the transactions on smart chain happen swiftly which is amazing. I hope the transaction fee won't get higher with time as many projects rush to it.

[MRM]

Ethereum Gas fee is currently a big problem. That's why most coins have started using Binance smart chian. And because of the gas fee problem, many projects are benefiting by using binance smart chain. So if the gas fee does not decrease in the future. I think the ethereum platform will suffer somewhat. There is a lot of speculation that the binance smart chain will go a long way. But I think things are moving in a different direction. I believe this trend will continue.

[nelson4lov]

I think the reason is about the expensive Ethereum Network transaction fees, Actually, until now the transaction fees are not yet normalized and even sending a few tokens can cost you more than $1 unlike before it's just only $0.10 - $0.50 cents.

That's just for sending tokens from a wallet. If you want to interact with smart contracts or protocols like uniswap, 1nch etc, The fees multiply by 20x to 30x. It's insane. I wanted to get a taste of DeFi and decided to try one of the protocols and provide liquidity. What happened? I was charged around $50 to interact with. What if I repeat the transaction 10 times? That's a solid $500 in transactions fee. This leaves a bad taste in everyone's mouth especially if they're new users. This is why we need ETH 2.0 to be launched asap.

[auntyjmary]

Blockchain needs speed and transparency. The binance smart chain platform is one of the coolest network for any altcoin to operate on. Even before the high gas fees on the ethereum blockchain chain, am glad notable coins like $AWC from atomicwallet.io were partially migrated on that platform.

[Tnoy30]

Currently I need many other fees for transactions and for exchanging tokens or for any transaction from the ethereum platform. As a result the user is being harmed. The user wants to get rid of it. Users are not comfortable. The result is being damaged. So many users have left here. This is a problem right now and it probably won't last very long. However I think ethereum 2.0 is needed to expect some good results. So everyone believes that such gas fee will be reduced. But the current binance smart chain is in a good position.