Binance CEO Talks About Ethereum and Binance Coin Rivalry, Says ETH vs BNB Isn’t Competition
Changpeng Zhao, the CEO and founder of the cryptocurrency exchange Binance, talked about Ethereum (ETH) and Binance Coin (BNB). He has compared the second largest digital asset with the virtual currency that is used on the Binance platform and other Binance products.
Changpeng Zhao Talks About ETH and BNB
The last week was very important for Binance Coin, Ethereum and the whole cryptocurrency market. Binance announced that they were launching the blockchain network Binance Chain. At the same time, they have announced a new fiat-to-crypto exchange in Singapore and Binance Coin has reached new all-time highs.
The crypto-related Twitter user @TheGemClub wrote a Tweet in which he explains why Binance Coin is going to have a devastating effect on Ethereum. According to him, there is almost no benefit of choosing Ethereum over Binance chain aside from decentralization.
Furthermore, he said that projects that move to Binance Chain will be receiving a lot more attention and many other things.
$BNB is going to have a devastating effect on $ETH and send it back to double digits
There is almost no benefit of choosing $ETH over Binance chain aside from a bit more decentralization. Projects moving to Binance Chain will receive a ton of attention, listings, + more…
— Gat PELOTON BIKER GANG KING (@TheGemClub) April 18, 2019
Changpeng Zhao answered this tweet saying that he likes the positivity for Binance Coin but that the community doesn’t “have to diss any other coin.”
Additionally, he admitted that Ethereum can do much more than BNB in features and urged the community to work side by side.
I like the positivity for #bnb 🙏🙏🙏, but we really don't have to diss any other coin. #eth can do much more than #bnb in features. Let's grow together. 🤝🤝🤝 https://t.co/26a2T0Om3x
— CZ Binance (@cz_binance) April 22, 2019
Moreover, Changpeng Zhao explained that Ethereum lacks focus. Moreover, a cryptocurrency user mentioned that Ethereum has a large development community and diversity while Binance is just starting to attract new individuals and developers to its network.
About it, Mr. Zhao said that even when Ethereum has a large community, there are many issues that the network has to face compared with Binance that has a smaller community focusing on a few issues.
Binance Coin is currently the 7th largest digital asset in the market. It has also been the best performing asset since the beginning of the year and it has also surpassed its all-time high a few days ago. Now, each BNB can be purchased for over $24.3 and it has a market capitalization of $3.44 billion.