CZ: Binance Chain is “much faster” and “cheaper” than Ethereum

28 Jan, 2019 | Updated: 28 Jan, 2019
by Will Heasman
Opinion
CZ: Binance Chain is “much faster” and “cheaper” than Ethereum

During an interview at the Binance blockchain week, CEO of Binance, layed out the particularities of the upcoming Binance Chain and why token holders should be moving over from Ethereum.

In a stunt reminiscent of what TRON founder and CEO, Justin Sun would do, Changpeng Zhao, aka CZ, alluded to, and even encouraged token migration from Ethereum across to Binance Chain:

“On Binance Chain you’ll get one-second transaction confirmation, one confirmation is final, so it’s a much fast chain and the transaction fees are cheaper, there’s a lot of advantages for them to move to the Binance chain, which uses a native DEX.”

CZ is speaking about the Binance DEX and Binance Chain, launching in early 2019. During the interview with crypto Youtube commentator, Boxmining CZ hinted to the fact that some large ERC-20 tokens may be migrating over to Binance Chain upon launch.

“If you’re only using ERC20 as a token, there’s no real reason for you to stay on Ethereum.”

Binance Chain, much like Ethereum will be a platform upon which new cryptocurrencies and ICO’s can be forged and will facilitate the transfer and trading of blockchain assets, as well as “provide new possibilities for the future flow of blockchain assets.”

Read more: A promising Q1 ahead... What's next for Binance and BNB?

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