Binance Investors shifting from ERC-20 to BEP-20 &TRC-20

Razor1911

Active member
There are mainly three types of chains used in the crypto market. Etherum chain which is ERC-20, binance chain which is BEP-20 and Tron link chain which is TRC-20. There was time, particularly before the launch of binance smart chain, ERC-20 used to be bery popular, but at this moment it has lost all the momentum and its shifted towards other block chains.

The main reason is their High gas charge. The charges are so high that you may only get $6 worth of Converted coins, if you transact for $10. In other hand, Binance and Tron chains charge comparatively less for such transaction. Hence the investors are shifting from ERC- 20 to other chains these days. Binance chain has become more popular than rest of thr two due to it's efficiency and ease of doing transactions.

Do you think that the charges of etherum chain is the only reason why poeple are leaving that blockchain. Please share your views.
 

sincerem

VIP Contributor
That's very bizarre to send out coins using ETH blockchain to see my coin's value dropping more than half when i sent small amount of coin in the region of $20. That's why people are dumping ERC-20 to focus attention on BSC network cos of its lower transaction fee charges to process coins from its base to an external wallets.
 

Razor1911

Active member
That's very bizarre to send out coins using ETH blockchain to see my coin's value dropping more than half when i sent small amount of coin in the region of $20. That's why people are dumping ERC-20 to focus attention on BSC network cos of its lower transaction fee charges to process coins from its base to an external wallets.
Just yesterday I recieved dogecoin from the admin here, and thought to transfer it to my main wallet, but I was surprised to see the deductions. I was having around 9.79 dogecoins which is worth 4 USD. when I went to transfer it showed the deduction of whopping 5 dogecoins. Means I would get only 4.79. That's insane.
 

Putta Vince

Active member
Yes it is due to very high ethereum fees , the new tokens which we see in the market are mostly Bep20 , even the airdrops are focused on Bep20 tokens. But ethereum 2.0 coming up in few months , the high fees associated with ethereum may drops significantly , we can see more changes with the tokes as well.
 

Sotherefore

VIP Contributor
Lolz, I actually said this that it is because of the high transaction fee in ethereum that is making the price of etherum to be sluggish and if it was cryptocurrency with the lowest transaction feel like the binance smart chain,i could be possible for the the price to reach 20,000 dollars by now,erc20 comes with the highest transaction fee.
 

Josemendez

Verified member
The reason why we presently observe Binance smart chain competing with ethereum is because Binance smart chain capitalize on low transaction fee to attract users to it's self . Trc20 is also another chain with low transaction fee.
Previously before the present reduction in ethereum gas fee , people have always tried to avoid interacting with ethereum network and this to an extent didn't give it the lift it suppose to have.
 

Yugocean

Valued Contributor
Both BNB and TRC were launched as ERC 20 tokens, but they build their own blockchain platform; not only this, even stablecoin like Tether (USDT) also got movement, Tether was also launched as ERC20 token, now it has multiple options for transaction. Only Ether blockchain was taking high fees, but it has TRON blockchain transaction features too. We should accept where there is no or less fees.
 
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