Binance CEO Changpeng Zhao welcomed more Ethereum-based DeFi projects to join the Binance Smart Chain (BSC) platform.
In a tweet discussion with another user, Zhao explained that this step would reduce the load on the Ethereum network, which will, in turn, lead to a reduction in Ethereum’s gas fees.
Zhao later stressed that Binance Smart Chain is not a replacement or competitor to the Ethereum network and that it is compatible with it. Zhao added that Binance Smart Chain provides the smart contract creators with more options:
“BSC never aimed to replace ETH, BSC is just ETH-compatible. Smart projects are giving their users more options. Option for cheaper fees.”
Zhao concluded his comments by revealing that his Binance Smart Chain transaction volume recently reached 10% of Ethereum’s network a few days ago.