Your favorite crypto news blog

Binance CEO CZ Has Eyes Peeled For An Ether vs. BNB Tussle As Network Wars Intensify

Altcoins 2021/07/17 20:06 by Olivia Brooke
Binance CEO CZ Has Eyes Peeled For An Ether vs. BNB Tussle As Network Wars Intensify

The network rivalry between Ethereum and Tron may have been the most pronounced in the past, and most recently, that onlookers may have forgotten that the former is also a Binance competitor, thanks to the arrival of the Binance smart chain.

An Ether and BNB rivalry is brewing 

With the arrival of the Binance smart chain designed to host applications on its platform, observers pointed out the similarities between BSC and Ethereum, implying that the former may be duplicating the latter’s features.

In an interview with Decrypt in May, CZ cleared the air, saying; 

“Ethereum did not invent blockchain, Ethereum copied blockchain from Bitcoin… And obviously, people will look at what’s popular on Ethereum and try to copy it onto BSC.”

However, as recently as today, CZ has been seen engaging in a tweet, in which the author reckons that BNB will soon meet up with Ether. The reason being that the Ethereum network is underperforming in comparison to BSC.

“BNB going to catch up to ETH ratio hard over the next few weeks. Don’t really see the argument against this, ethereum and its entire network is dogshit once you use BSC. Solana as well, unusable for avg users, less than 1 bil liquidity on that entire network.” wrote the user. CZ chimed in immediately with the eye emoji, implying that he was paying close attention.

Previously, one Binance user had highlighted the difference in network performance, noting that Polygon is also an Ethereum competitor, although Binance Smart Chain beats both in terms of speed, and transaction cost.

“Polygon is about 10x faster than Ethereum & yet TXs are more than 10x cheaper. BSC is about 20x faster than Ethereum & yet transactions are more than 20x cheaper. You can’t just look at supply (of blockspace) alone, you need to look at demand (for blockspace) Same goes for S2F.”

Will BNB and Ether go head to head this season?

As far as price levels are concerned, BNB is still a bit behind Ether, with the latter’s market cap over $180 billion higher than the former. Trading volume on the other hand is around $14 billion (Ether) to $1.3 billion (BNB); a major difference that reflects the current demand levels of both assets.

ETHUSD Chart By TradingView

While BNB has been one of the best-performing assets in the last year and has recorded outstanding growth in price (which went from less than $30 last year to as high as $690 this year), Ethereum’s highly anticipated EIP-1559 proposal could make it harder for BNB to catch up if the expected results cause the network and native currency (Ether) to surge.

BNBUSD Chart By TradingView

0 Like(s)

You should also read...

Crypto 13/09/20 23:30 by Cole Petersen
Binance Coin (BNB) Sees Parabolic Rise as Popularity of Binance Chain Grows
Binance Coin has been caught within the throes of a parabolic uptrend in recent weeks, with the price of BNB rocketing higher amidst a mixture of increased demand for the Binance exchange coupled with...
Read More
Altcoins 19/02/21 13:58 by Yashu Gola
Binance Coin Spikes 100% After Threatening Ethereum’s Dominance
This week, transaction fees on the Ethereum blockchain grew to a level that made the decentralized applications (dapp) operating atop it practically unusable. In some cases, transferring as little as ...
Read More
Crypto 02/03/21 12:00 by Yashu Gola
Binance Coin (BNB) Bull Run: Analyst Makes Bold Case for $500
Binance Coin should do to Ethereum what Bitcoin is doing to gold: eating a good portion of its market capitalization by acting as a better alternative. That was pretty much what Changpeng Zhao, the fo...
Read More
Altcoins 16/04/21 23:23 by Steven Msoh
Binance Burns 1M+ BNB, CEO CZ Reveals What’s Driving The Price Of The Token
Binance exchange has given its native token holders another reason to celebrate holding BNB. In its latest quarterly BNB burn, the exchange has set a record with a total of 1,099,888 BNB wiped out fr...
Read More
Other 23/04/21 09:31 by Livine Sanchez
Orbs Now Bridged to Binance Smart Chain (BSC) with Anyswap
Blockchain company Orbs said it is now available to trade on Binance Smart Chain (BSC). The move is yet another milestone in Orbs’ efforts to build bridges between complementary blockchains that wi...
Read More