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27 February 2021

Binance Blamed for Purposely Choking Ethereum’s Network – Exchanges Bitcoin News

Binance Blamed for Purposely Choking Ethereum’s Network – Exchanges Bitcoin News


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Binance Smart Chain (BSC), which works on a Proof of Authority (POA) model, is centralized (Binance picks the authorities that run each node) relative to Ethereum’s entirely decentralized approach.

This has prompted some users to criticize the approach, believing that Binance is abusing its clout and market power to intentionally clog the Ethereum network.

While it could be inferred that Binance’s volume is propelling Ether costs upward and doing so intentionally to attract more volume to its smart chain, this argument misses out on the blockchain interoperability that Binance has promoted.

By filling this void quicker than competitors or more established chains, Binance is now home to PancakeSwap, which has overtaken Uniswap(based on Ethereum) in terms of volume.

Still, that hasn’t been enough to silence critics like FTX, which blame Binance for the default chains where it sends transactions.

What do you think – is Binance purposely choking the Ethereum network to gain more users

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