Changpeng Zhao, CEO of cryptocurrency exchange Binance, commented on the relationship between Binance Smart Chain (BSC) and Ethereum (ETH). Binance CEO said that the newly developed BSC will not “kill” Ethereum.
Binance, the world’s largest cryptocurrency exchange in terms of trade volume, this year announced a new platform called Binance Smart Chain. One of the biggest goals of the Smart Chain project is to attract Ethereum-based projects and teams considering developing an Ethereum-based project to Smart Chain.
Not ready to replace Ethereum yet
Changpeng Zhao made a statement today and evaluated the relationship between Smart Chain and Ethereum. Zhao said Binance Smart Chain will literally “not replace Ethereum” and BSC is not “Ethereum killer”. Saying that Binance Smart Chain is much faster and cheaper than Ethereum, Zhao explained that it can be seen as Ethereum 1.8, if not Ethereum 2.0.
— CZ Binance (@cz_binance) October 29, 2020
Sharing his views on the Ethereum 2.0 update, Zhao stated that it would be a “great” update.
Millions of transactions have already been made
Binance CEO Changpeng Zhao has been tweeting about Binance Smart Chain for a while, highlighting the differences between BSC and Ethereum. Zhao often emphasizes that Binance Smart Chain-based transactions are completed faster and cheaper. These statements by the Binance CEO are fueling the competition between Binance Smart Chain and Ethereum.
Although Binance Smart Chain is a young platform, it is already hosting many different projects. So far, more than 8 million transactions have been made through BSC and $ 220 million worth of Binance Coin (BNB) has been used on the platform.