There seems to be a disturbance in the force over at the Binance Smart Chain. Even though for the average user the BSC is working just fine, the validators are up in arms. A pseudonymous one opened up an issue at GitHub and all hell broke loose. The title: “BSC is a lost cause.” It concludes, “Binance wanted a quick hack to make some money, but is not willing to expand even modest resources to make this thing actually work. Given that they’ve made billions from this, this is absurd and a huge abuse of the trust (and money) people put in this.”
Related Reading | Binance Plans To Develop French Crypto Ecosystem With $116M Initiative
Do the validators have a point? Or are they underestimating Binance? Let’s break this down and see where we are.
Dirty secret that only node runners know is that many 2.0 blockchains are impossible to run full archive nodes for let alone validate and ensure devs aren’t misbehaving https://t.co/UnQLXpm4br
— nic cubeter (🧊, 🧊) (@nic__carter) November 18, 2021
Problems With The Binance Smart Chain
One good thing for Binance is that people can’t claim that their chain is completely centralized anymore. All the people in GitHub seem to be independent validators that are having real problems with the chain. The original poster, who’s a BNB holder and supporter, who invested money and became a validator, seems to be genuinely concerned. “I’ve rarely seen something handled so unprofessionally,” he says, and starts listing problems. Let’s look at some of them.
“There is no code review, patches are simply committed, in most cases even without a proper description of what they do or what problem they try to solve”
“There is zero responding to bug reports. Hundreds of people report non syncing nodes or nodes falling out of sync. Response from the “developers” – zero.”
“As someone else already wrote, the root cause of the problem is that you mindlessly increased the blocksize and reduced the blocktime without doing the actual work required.”
That does sound bad. However, Binance announced their Bruno upgrade, which goes live in a couple of weeks.
“There doesn’t appear to be any reasonable testing process in place. Every update appears to make things worse.”
Damn, pseudonymous validator! You don’t have to go so hard on Binance. They do say that “The diffsync protocol in this release is rolled out as a stable feature. Diff sync improves the syncing speed by approximately 60%～70% according to test.”
“There is no beta testing, stuff is thrown over the fence. Features like diffsync are declared “stable” by decree, even though hundreds of people reporting the opposite indicated otherwise.”
Ok, there might be a real problem here.
BNB price chart on FTX | Source: BNB/USD on TradingView.com
Other Validators Chip In
Almost 70 validators responded to the GitHub issue. Here are a few highlights: