If you have not noticed already Binance coin has been taking off lately.
On April 23rd 2019 Binance BNB will be launched on the new network in which those holding ETH ERC20 tokens are encouraged to move their coins from there to the new network. Old ETH tokens will be burned as they are created on the new network.
This could possible open up some issues in price if there are large whales that end up not moving right away. To me it seems like a large overhang of potential capital that could be sucked out of their new system at any time if you still hold the ERC 20 tokens.
Binance Coin on the Binance Chain is going to be the same as Ethereum is really. Where you pay fees/gas per transaction made on their own network.
The question will be how many apps will move off of Ethereum or other networks on to the new Binance chain and what the benefits are.
For me any time something brand new gets released the last thing you want to do is move your dApp to it as it has yet been battle tested. It is almost a sure fire way to get screwed over by some unforeseen price manipulation or even a bug that was not known before it went live. You always want to drop in months/years after which is one of the strong points of Ethereum and why so many continue to work with them.
Binance did say they would be releasing this back in March of 2018 which goes to show you even a large company takes a long time to build out their own chain. Over a year after we got told and I am sure there where months before that where it was just being planned. This kind of makes me think of where we might be today here on Steem.
Binance BNB market cap was roughly what Steems is right now. It makes you sit back and think hmmm if SMT where launched that would most likely put us at roughly $15 per steem in comparison to where BNB is at the moment.
Binance is actually using battle tested tech from the team behind Cosmos it damn good. It might be centralized and continue so for a couple of month, tech wise-nothing really to be worried about
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I hope smt will worth the hype....
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The longer they keep holding off on it the less and less impact it is going to have. If they don't release it this year I am pretty much out of Steem to be honest. There are better alternatives with bigger market caps and just make smarter investments.
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Thats just messed up! Steem is all ive got
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I believe that's a move that will make some waves, either now or later on.
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binance showing how to make a real valuable utility for its coin whcih keeps on growing, I do not see it stopping
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I think the hype is surrounding the flexibility around DEXs in a landscape still filled with regulatory uncertainty. Given their reputation and reach, this could be a great and active DEX that can really deploy many things others, both decentralized and centralized, cannot do.
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