Is Binance Delisting ETH Pairs to ‘Kill’ Ethereum? Analysis over Prudency behind the Move

Umme Haani
Umme Haani is a writer for Thecoinrepublic. she contributes a researched piece on cryptocurrencies and updates. Umme is an aspiring engineer who immensely enjoys writing and technical writing brings the best of both worlds under one roof for her.

SHORT INSIGHTS

  • Binance took to twitter to announce the whitepaper released by the Binance Chain Community. This is to add smart contracts and enable the same.
  • Changpeng Zhao stated that enabling smart contracts has taken a while for them. 
  • Philip Arthur Moore, a Blockchain evangelist referred that Binance removing ETH would be interpreted as a bad take.

The new initiative of Binance to add Smart Chain features indicates that it wants to compete with Ethereum. Ethereum has been a leader in smart contracts. This has created a path for competitors to enter their space. This move of Binance seems to make the way for it into a competitive domain. It also makes it clear that it is now making Ethereum its direct Competitor.

Earlier on April 17, 2020, Binance took to twitter to announce the whitepaper released by the Binance Chain Community. This is to add smart contracts and enable the same. The whitepaper suggested that Binance wanted to add the smart contract features much earlier to the Binance Chain. It also elucidated that the Binance Smart Chain (BSC) is parallel to the Binance Chain. The tweet added that Binance Smart Chain(BSC) features low transaction costs, EVM compatibility and fast block times. Binance Smart Chain will run the full EThereum Virtual Machine.

Binance Smart Contracts suggests, it has smart contract features similar to Ethereum. The reason to launch this native blockchain is the lack of freedom and flexibility of the Binance Chain. This new blockchain brings interoperability of the Ethereum Virtual Machine (EVM) to the Binance Chain. 

Following the whitepaper release, Changpeng Zhao, founder, and CEO of Binance also took to Twitter regarding the same. He stated that enabling smart contracts has taken a while for them. Adding that they are now looking forward to having the 2.0 shortly.

BLOCKCHAIN EVANGELIST’S COMEBACK 

To clear the bush, Philip Arthur Moore who is a software engineer by profession and a Blockchain evangelist referred that Binance removing ETH would be interpreted as a bad take. And will be claimed that Binance has removed ETH pairs only to kill ETH. He tweeted that Binance recently delisted its own pairs that lacked liquidity. Binance had recently removed DREP/BNB, POLY/BNB, VITE/BNB, TCT/BNB, APPC/BNB, PHP/BNB, OMG/BNB/.

Changpeng Zhao retorted to this comeback by Arthur. Zhao thanked him and stated that they were not against ETH but were just wanting to be compatible.

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