Will Binance Smart Chain be Another Failure Like Ethereum and EOS?
When Binance Smart Chain came, it looked like the solution that the crypto world needed to Ethereum and EOS Smart contract trouble. The Binance ecosystem is no doubt an organized system, so creating a smart contract looked like a very good one and just as expected everyone rushed into the BSC ecosystem and behold tokens like SafeMoon, SafeMars, and so on were built.
While some people made money from these tokens, listing on pancakeswap, a lot of people have become bag holders of shit coins. Just looking like a Déjà vu. It now looks like every project with a smart contract has a high chance of failure, which could be as a result of the project owners or who decide to create tokens with no real use case, or as a result of people who wanted to pump and dump this tokens real fast for quick game. All said, this looks just like the ETH smart contract failure, and the EOS smart contract failure.
Binance Smart Chain just like EOS Smart Contract had something which was different from Ethereum and that was Speed, as well as being able to list almost immediately, but with this, it still looks like BSC has had its own share of failed project being listed on it, which at the end sticks with the name Binance Smart Chain tokens/projects. When you go through the list of BSC tokens, you will be so shocked at how many shit coins are on the Smart Chain, just like if you go to the EOS and Ethereum Smart Chain, you wonder how many failed projects were there.
Smart Chain is supposed to be an easy way for Dapp developers and project owners to create their own projects and ecosystem, but do you think there will be a way to reduce the number of failed projects on Blockchain Smart Contracts?
Your post was upvoted and resteemed on @crypto.defrag
Let's hope it is not a failure, it is a very good option.
I must say it’s very good and easy to use one, I hope so too.
Maybe what's going on behind the obvious low popularity of Binance Smart Chain, is that NFT projects and games have lowered their level of seriousness and basically those who used the BSB were its user pool. Thanks @gbenga for sharing this content.
I agree that the Ethereum, Binance Smart Chain or EOS have been hotbeds of shitcoins for the past year or so, but that doesn't mean they are failure anything like that, because there are also valid projects that add value to the chain. Abusers can be at any place but their presence doesn't always mean the place is a failure
Thanks for sharing :)
Hi
BSC has tremendous visibility thanks to Binance
Besides it is easy to code and deploy plus the low fee makes it an attractive playground for any project to come and test the crypto waters.
If a project succeeds or fails depends upon its own merit and use case. It does not reflect upon the underlying tech which till now has worked quite well and almost flawlessly till now.