Messari: Binance Smart Chain Is Just An Ethereum Fork With A Centralized Set Of Validators

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The advantages of Binance Smart Chain (BSC) over the Ethereum blockchain are due to the “magic of centralization”, not “technological innovation.” This was stated by Messari analyst Ryan Watkins.

 

“BSC is a fork of Ethereum with a centralized set of validators. That’s all. No more, ”wrote Watkins.

 

According to him, the price movement will make people believe anything. The analyst added that no rise in BNB or CAKE will change that “they are imitators.”

Retail investors are being fooled by “the latest centralized solution to all blockchain problems,” Watkins noted. In his opinion, at the end of the cycle, they will pay for it.

Messari colleague Wilson Wisiam called Binance Smart Chain more centralized than most platforms.

At the time of writing, the amount of blocked funds (TVL) in projects at BSC has reached $ 31 billion, according to DeFi Station. Over the past 30 days, the growth was 143%.

Data: DeFi Station.

Over the past 14 days, Binance Coin (BNB) is up 124%. At the time of writing, BNB is trading at $ 603, according to CoinGecko.

Against the background of the growth of BNB, the capitalization of the stablecoin Binance USD (BUSD) exceeded $ 5 billion.

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