#交易平台业务 Seeing this analysis of BNB Chain and Base, I suddenly recalled the days of public chain competition ten years ago. Back then, everyone was fighting over one question: who would become the sole choice? Looking back now, that question itself was wrong.

BNB Chain is like a port that never closes—users flood in directly from trading platforms, regardless of ideology, only caring about fees, speed, and opportunities. I've seen this approach countless times: rapid iteration, overwhelming new projects, short-term waves of wealth. Users in Asian markets and emerging markets are all in for this because what they fundamentally need is utility, not philosophy.

Base is taking a different path. The compliance background behind Coinbase, the patience with developers, and that attitude of "we are preparing for applications ten years from now"—these things don't show short-term advantages, but once accumulated, they become a moat. I've interacted with some teams deeply involved in Base; they are truly not in a hurry, willing to spend time refining products and building a real user base.

The most interesting layer is the wallet. Binance Web3 Wallet accounts for over 57% of decentralized wallet transaction volume, but the entire ecosystem still feels restless; while the Base App doesn't seem to have as many users, it is cultivating a group of people who truly treat blockchain as a lifestyle. This reminds me of the early days of Ethereum and other public chains—not about transaction volume, but about ecosystem density and user mindset.

The current competitive landscape is less about confrontation and more about differentiation. Emerging markets need efficiency and scale, developed markets need compliance and trust—both needs are real. Truly smart application developers and investors should understand the logic of both worlds simultaneously, rather than betting on one chain dominating everything—history has proven many times that predictions of a single monopoly often fall short.