+++ It took only a few months until there was congestion on #BSC . This wants to be the $ETH killer? A thread on why the #BSC is too centralized & unscalable to be the next #Ethereum & how chains like $FTM, $AVAX, $SOL, $DOT & $MATIC will provide remedy +++

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Info on how centralized #BSC is:

"Already, the BSC has prevented withdrawals for users, which is unacceptable. It raises the concern that Binance can prevent users from accessing and moving their funds in the future. No blockchain should allow for that" https://edwardcwilson.medium.com/what-is-the-binance-smart-chain-and-is-it-a-viable-alternative-to-ethereum-7aa93f20eb9c

At its core, #BSC is a clone of #Ethereum. The only reason it is so cheap is because Binance owns all the nodes which allows them to subsidize gas costs. The question is how long Binance can keep this up and will bear the cost. https://twitter.com/sassal0x/status/1359427495909490688

Even though #BSC feels like a faster and more affordable #ETH, make no mistake: It is no decentralized blockchain. A company - Binance - can halt the blockchain at any time, making ALL your funds inaccessible. If Binance goes down, you go down with it. https://twitter.com/asiahodl/status/1362662221847818240

There are #BSC alternatives: $FTM, $AVAX, $SOL, $DOT, $MATIC and many others (!). Most of them provide equal, if not better, fundamentals (txs costs & txs speed) than #BSC . They are ALL more decentralized and you are not dependent on one guy (CZ from Binance).

$FTM is as versatile as #Ethereum, ultra-fast (time-to-finality in 1 sec) & provides very low fees ($0.00002/tx). It is way more scalable than #BSC , and as it supports the Ethereum Virtual Machine, it is very easy to deploy existing smart contracts.

Similar to $FTM, $AVAX provides 4.500+ tps, is significantly more scalable, faster and decentralized than #BSC . New projects are deployed every day. Each blockchain launched on $AVAX can define its own core logic and validator set.

And Polygon $MATIC - a protocol and a framework for building and connecting $ETH-compatible blockchain networks - is a Layer 2 scaling solution running on Ethereum. It enables scalable transactions at a faster speed than on the main chain.

Through bridges, e.g. http://multichain.xyz , it is possible to transfer tokens between chains. You can, for example, send your tokens from #BSC to $FTM, or from $FTM to #Ethereum. With such solutions it is possible to alleviate the txs burden on $ETH & help to decrease gas fees

If you take sth. from this thread, it is this: Do your research on #BSC & $BNB. Look into alternatives, such as $FTM $AVAX $SOL $DOT $MATIC & others. #Ethereum is not dead. There is a new generation of chains that will revolutionize blockchain tech. The future is exciting.