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Changpeng Zhao, the founder and CEO of Binance, published some findings on why he no longer believes Ethereum as he once did.
Ethereum lost more than 30% of its value in 7 days, which did not leave even the founder of the most popular crypto exchange, Binance, cold.
Changpeng Zhao mentioned on the ETH for the first time yesterday when he posted an ambiguous critical post on his twitter about high fees.
This tweet immediately stirred up emotions and also found some enthusiasts who were very happy to share it further. However, as this became a hot topic among crypto communities, C. Zhao prepared another thread on ETH for everyone, where he explained possible killers for Ethereum in 5 points.
In the first point, he acknowledged that ETH is extremely successful, but it is its success that can also be its killer. In the second point, he compared the situation to former social media such as Friendster, MySpace, which were also extremely popular at first, but did not manage the burden and couldn’t keep up with the user/demand growth.
In the third step, he was more specific when he again acknowledged the growing demand, but at the same time pointed out that the performance of ETH is not growing and we will wait for ETH 2.0 for years.
The last two points C. Zhao also mentioned his services as Binance CEX, which also faces the problem of growth and it is possible that if it does not change the system may become extinct.
In the end, however, he did not forgive himself for presenting his own Binance Smart Chain (BSC), which, according to him, was built with learnings from ETH, and it is he who is trying to solve the key issue of high fees.
Subsequently, he added “I just shill BSC and BNB” with humor.
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