Several months after the world’s biggest cryptocurrency exchange Binance launched Binance Smart Chain (BSC), its own blockchain to host decentralized applications, the company took heat for invading Ethereum’s turf—and potentially some projects’ intellectual property.
Appearing at the Ethereal Virtual Summit powered by Decrypt on Friday, Binance CEO Changpeng “CZ” Zhao suggested that’s all just part of being an innovator.
“Ethereum did not invent blockchain,” he said. “Ethereum copied blockchain from Bitcoin… And obviously, people will look at what’s popular on Ethereum and try to copy it onto BSC.”
That can even be a good thing, he implied. He pointed to PancakeSwap, the decentralized exchange (DEX) that has surpassed Ethereum-based Uniswap in trade volume.
“Uniswap probably did invent the automated market maker, the liquidity pools, et cetera, so that’s great, but in a decentralized world your concepts will get copied very quickly,” he said, referring t