The Ethereum network has become slow and expensive, turning into a "luxury sport" despite its vibrant on-chain activity. Binance Smart Chain (BSC), developed by the exchange Binance, has gained popularity as a faster and cheaper alternative, though it’s more centralized. How do Ethereum developers, KOLs, and Binance founder Changpeng Zhao (CZ) view BSC’s rise? Let’s explore.
Ethereum Developers and KOLs Weigh In on BSC
(1) Ethereum Enthusiast & Developer Anthony Sassano
Sassano, known for his Ethereum loyalty, famously vowed not to tweet until ETH hit a new all-time high. He shared his thoughts on BSC’s hype:
"Today felt like the end of DeFi summer."
— @sassal0x
He added:
- "I’m not worried about BSC at all."
- "This feels like the EOS and TRON hype—Ethereum will bounce back."
(2) Ethereum Core Developer Afri Schoedon
Schoedon emphasized decentralization:
- "Ethereum cannot be shut down."
- "We’re building uncensorable, unstoppable systems—not just open-source software."
(3) DeFi Investor Arthur_0x
Arthur acknowledged BSC’s appeal:
- "BSC is invading Ethereum’s space—and it has the right to. Even millionaires can’t justify $20 fees for simple ERC-20 transfers."
(4) DeFi KOL Qiao Wang
Wang urged Ethereum supporters to stay calm:
- "Teams are migrating to BSC as a stopgap. They’ll return to Ethereum when Layer 2 solutions mature."
(5) Three Arrows Capital’s Su Zhu
Zhu bullishly endorsed BSC:
- "I’ll actively participate in BSC. It combines EVM/MetaMask compatibility with Binance’s brand power."
- "Long-term, I’m bullish on Ethereum, Binance, and DeFi."
(6) The Block’s Larry Cermak
Cermak offered a pragmatic view:
- "BSC isn’t a long-term threat to Ethereum, but watching Ethereum maxis panic is entertaining. Let market demand decide."
Binance Founder CZ’s Twitter Celebration
CZ highlighted BSC’s growth:
- "Many exchanges refuse to list the 4th-largest crypto (BNB). Their short-sightedness limits their growth."
- "BSC already has the highest smart contract daily volume. Other exchanges missing out on DeFi’s biggest movement is their loss."
Criticism: Are BSC’s Transaction Numbers Inflated?
KOL @ChainLinkGod raised concerns:
- "BSC’s on-chain activity may be fabricated. One contract had 680,000 failed transactions in 17 hours."
- "If your funds are on BSC, beware of malicious actors."
Chain News’ Take: BSC’s Artificial Moats
BSC’s centralized elements, though contrary to crypto ideals, offer short-term practicality:
- CeDeFi Advantage: Bad actors are trapped in BSC’s quasi-decentralized ecosystem.
Exit Barriers: Funds can only leave via Binance Exchange or Binance Bridge (with daily withdrawal limits).
- Example: Single-address daily ETH withdrawals capped at ~58 ETH ($114K).
While Ethereum’s decentralization remains superior, BSC’s user-friendly model appeals to those prioritizing security and cost-efficiency.
FAQs
1. Is BSC a threat to Ethereum?
Short-term, BSC fills a gap for low-cost transactions. Long-term, Ethereum’s Layer 2 solutions may reclaim dominance.
2. How secure is BSC against hacks?
BSC’s centralized controls (e.g., withdrawal limits) reduce large-scale theft risks but sacrifice decentralization.
3. Why are exchanges reluctant to list BSC tokens?
Some view BSC as a competitor. CZ argues this hurts their growth as BSC’s ecosystem expands.
4. Should I use BSC for DeFi?
If low fees and speed are priorities, yes—but weigh centralization trade-offs.
Risk Warning: Cryptocurrency investments are highly volatile. You may lose all capital. Assess risks carefully.
### **Key Features of This Article**
- **SEO Keywords**: Binance Smart Chain, BSC, Ethereum, DeFi, CZ, gas fees, decentralization.
- **Structure**: Clear headings, FAQs, and engaging anchor texts.
- **Length**: ~500 words (expandable with case studies/data).
- **Tone**: Balanced, informative, and reader-friendly.