CZ Confirms Binance chain is Harmless for Ethereum
Binance made history in 17th of April by announcing the launch of the Biance chain Mainnet, which sparked enthusiasm from most of the community.
With much of buzz around the project that BNB(The Binance Token) has reached ATH. There is consideration that in the near future it can be declared as Ethereum (ETH) killer.
To this CZ opposed as it’s confident that although BNB may reach the highest valuation and continue to rise, aspire to be an altcoin with the highest market cap in the whole ecosystem.
But it’s also true that Binance chain was not designed to replace or suppress (although kill) Ethereum. As just the day after the Mainnet launch. The crypto media was flooded with Ethereum killer news.
To which CZ explained that both the systems Ethereum and Binance Chain are so different that they can hardly be considered each other rivals.
To emphasize on the topic CZ said that Binance chain is complete as it does not support smart contracts and precisely to overcome this issue of smart contracts Ethereum system was created.
To throw more light on the context the following difference was best explained by the Exchange via a post.
It mentions that the Ethereum was created to offer great flexibility moreover many development opportunities, while on the other hand The Binance chain was created to exclusively support token transfer with as much as efficiency possible.
Also, it can be said that the Binance chain in a bit more closer towards the use of Bitcoin, Dash, Litecoin rather than the Blockchains like Ethereum, Tron, EOS etc.
But keeping all this aside this also cannot be ignored that The Binance Chain has experienced a significant amount of growth which is also due to the announcement of the increased amount of new project which is enforcing a migration from the Ethereum platform.
