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They want the security and finality of Ethereum’s consensus model. BSC is showing that the permissionless deployment model has utility to the market, whether i
by vmception 5y ago
They want the security and finality of Ethereum’s consensus model.
BSC is showing that the permissionless deployment model has utility to the market, whether it is centralized or not. People want to deploy contracts and create liquidity, the same ones that work on ethereum work there. It’s no different than shopify launching an app marketplace, people don’t care that’s its centralized it wasn’t even a factor.
- CryptoPunk 5y agoBSC gets its credibility from being backed by the largest crypto exchange in the world. But even then, it's far less trusted for long term storage of digital assets than Ethereum mainnet. But I do agree that BSC, and to a lesser extent HEC, show the market places a premium on permissionless-ness and composability, even in the absence of a decentralized consensus process. It's simply more convenient to use MetaMask to interact with exchange-native assets than an exchange-specific username/password. But I think all of that just solidifies Ethereum mainnet's utility as the root settlement layer.
- yourabstraction 5y agoI've been saying for a while now, that decentralization is an implementation detail, which makes cryptos robust to attack from various parties. But the main thing driving adoption and innovation is permissionless usage and innovation. It means that anyone, anywhere in the world can use or create open financial systems. That's an insanely powerful concept that has never existed before. That said, survival of the fittest will dictate that the most decentralized systems are still around for the long term.