On April 17th, Binance made history by announcing the launch of the Binance Chain mainnet, sparking enthusiasm from much of the community.
So much was the buzz around this project that today BNB (the Binance token) has reached ATH and many began to declare that in the future, it could be considered the Ethereum Killer.
However, although CZ is confident that the BNB valuation can continue to rise, and many aspire to be the altcoin with the largest marketcap in the ecosystem, the truth is that Binance Chain was not designed to replace (much less kill) Ethereum.
Just the day after the mainnet launch, the first articles praising the new Ethererum Killer began to appear in the most important crypto media. Faced with this, CZ very subtly explained that Ethereum and Binance Chain are so different that they could hardly be considered rivals.
The first difference that CZ emphasized is perhaps the most important of all. Binance Chain is not Turing complete. The blockchain of the leading crypto Exchange does not support Smart contracts, which is precisely the main use for which Ethereum was created.
This difference was best explained in a post from the Exchange, which mentions that while Ethereum was created to offer great flexibility and many development opportunities, Binance chain was created exclusively to support token transfers as quickly and efficiently as possible.
As a public blockchain, Binance Chain will mainly focus on the transfer and trading of blockchain assets, as well as provide new possibilities for the future flow of blockchain assets. Binance Chain will focus on performance, ease-of-use, and liquidity. Binance Coin (BNB) will be upgraded to exist on its own blockchain mainnet, becoming a native coin. At the same time, Binance will transition from being a company to a community.
In this sense it could be said that Binance Chain is closer to the use of Bitcoin, Dash, Litecoin, etc rather than being closer to other blockchains such as Ethereum, EOS or Tron (of course, bridging the differences).
CZ has a more didactic way of explaining this difference:
So far, Binance Chain has experienced a significant success with an increasing number of projects announcing a migration from Ethereum to this new blockchain. BNB is experiencing quite a bullish run