As it is said no idea is original. It obvious someone might come up with something then somebody else might take that something and perfect it in every way he could trying by all means to get rid of all the bottlenecks so than he can have a well crafted end product.
Ethereum is a well know crypto currency just like Bitcoin, but the only major difference is ETH has now more services to provide as compared to Bitcoin which is just used for payments. Ethereum has gained so much popularity because it was the sole giant when it comes to Smart Contracts,DeFi and DAaps . As the world has gone digital now smart contract are being signed digitally and stored on a public ledger where they can be audited anytime.
A new challenger is out there roaring
There can be only One king, so whoever is to challenge has to make sure that his/her arsenals are fully loaded. You will have to find the mistakes of your opponent and capitalize on that, that is the only way to outsmart them unless you are bringing in a brand new idea.
When Binance Coin was launched it was an ERC-20 token but it later changes from being an ERC-20 and it no longer runs on the Ethereum Chain but on its Binance Smart Chain. Now smart contracts are being run on the Binance Smart Chain aswel and now Binance is becoming a household name as investors are now selecting the BSC over the ETH Chain.
Binance came as a game changer with so much to offer. It showed that there are better alternatives than Ethereum. Do not quote me wrong i am not saying Ethereum is bad but BSC outshines ETH because of its low gas fees, lately ETH gas fee has been exorbitant and every investor tries to find ways to cut small their transactional cost.
If ETH gas fees remain so high there are higher chances that the tables will be turned and BSC will become the best option and for that reason its adoption rate will increase so as the capitalization and its price will skyrocket as well.