This website uses cookies to ensure you get the best experience on our website

What are the differences between Ethereum and the Binance Smart Chain (BSC)?

Competition is good for end-users.

Ethereum is the king because it enjoys the first-mover advantage.

Since its launch, Ethereum has been refining its system and is undoubtedly the leader of smart contracting.

Then the Binance Smart Chain (BSC) happened. As the name suggests, the BSC is a product of Binance—a centralized exchange.

Both BSC and Ethereum support smart contracts even though token standard diversity is denser in the latter, as would be expected.

At the same, most activity happens in Ethereum. This might, as aforementioned, to the unwillingness of developers to change camps despite BSC's compatibility with Ethereum.

However, amid the competition, the BSC is more scalable and can process more transactions per second. Accordingly, it is several times cheaper to transact in the BSC than Ethereum. As observed over the past few months, Gas remains sensitive, affecting how users interact with the base layer.

The BSC's scalability, some critics nonetheless observe, is at the expense of centralization. Most central validators of BSC under Binance, a concern for blockchain purists.

For more interesting tips and facts visit our Education Centre.

Have Questions? 

We're available 24/7 to help you. You can email us, or send us a message on WhatsApp, Telegram or Messenger!

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020