• Binance Smart Chain is set to unleash opBNB, a high-performance layer-2 solution within the BNB ecosystem.
  • opBNB will be a great solution for widespread adoption across multiple digital environments, addressing network needs while delivering optimal performance.
  • The feature will deliver lower fees, higher throughput, and the promise of scalability.

Binance ecosystem is set to unleash the full potential of the BNB Smart Chain with the release of an optimized Layer-2 solution. The feature is set to address the network's adoption needs while delivering optimal performance. The news comes on the same day that the largest exchange by trading volume cancels its UK registration as regulatory constraints burgeon.

Also Read: Binance cancels UK registration amidst mounting regulatory hurdles

Binance Smart Chain, unleashing the full potential

Binance Smart Chain (BNB Chain) is on a mission to actualize the network's full potential with the release of an optimized Layer-2 (L2) solution. The feature is poised to deliver lower fees and higher throughput to unlock the full potential of the BNB Chain.

The website described the proposed solution, christened opBNB, and built using the OP Stack as a high-performance L2 solution within the BNB ecosystem. The feature has a block size of 100 megabytes, which keeps its gas fees stable, affordable, and secure. Notably, security comes as it adopts a fraud-proving scheme to ensure the validity of transactions. These make opBNB a great solution for widespread adoption across multiple digital environments.

An excerpt from the announcement reads:

From gaming and decentralized exchanges to daily use and digital collectibles, opBNB caters to diverse needs while delivering optimal performance.

100M is a big leap from Optimism's 30M, with the new features making it possible for OpBNB to handle more than 4000 transactions per second while maintaining the average cost of a transaction below 0.005 USD.

The speed provision is a value addition for gaming applications, where high responsiveness is desirable.

The feature is part of the BNB network's commitment to delivering easy and efficient experiences for users, developers, and projects in the BSC ecosystem. It also bolsters the network's ongoing mission to bring the power of blockchain to the industry while embracing and steering innovation.

Binance Smart Chain's opBNB

Binance Smart Chain's opBNB aims to solve the network's scalability challenge, which continues to constrain the mass adoption of blockchain technology. The L2 chain is compatible with the Ethereum Virtual Machine (EVM). Specifically, the Optimistic Rollups features are among possible solutions to reduce computational load on the main chain. To do this, it executes transactions off-chain while updating transaction data on-chain as calldata. The technique is a swift solution for scalability owing to its unique ability to bundle several transactions together before submitting them to the main chain.  

Binance Smart Chain's opBNB expected benefits for developers and projects on the crypto playing field

Binance Smart Chain's (BNB) opBNB bears a wide range of benefits for crypto projects and developers in the industry. These include:

  • Enhance scalability as opBNB can support more than 4000 transfer transactions per second.
  • EVM compatibility means the platform will be accessible to developers familiar with Ethereum's tooling and dApps.
  • Security and trust court provide an added layer of trust and confidence for developers and users alike.
  • Future-proof development bodes well with the fact that the blockchain space is rapidly evolving. Staying adaptable is crucial for sustained growth. 
  • Rich ecosystem integration allows developers and projects to interact with various other projects and tokens.

Among the tokens that crypto projects and developers can integrate with courtesy of the opBNB feature include Binance Coin (BNB), Tether (USDT), and several other future ERC20 tokens supported on opBNB.

For the next few weeks, the BNB network will collect feedback from testnet validators and dApps builders as they try the product.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Is Altcoin Season here as Bitcoin reaches a new all-time high?

Is Altcoin Season here as Bitcoin reaches a new all-time high?

Bitcoin reaches a new all-time high of $98,384 on Thursday, with altcoins following the suit. Reports highlight that the recent surge in altcoins was fueled by the victory of crypto-friendly candidate Donal Trump in the US presidential election.

More Altcoin News
Shanghai court confirms legal recognition of crypto ownership

Shanghai court confirms legal recognition of crypto ownership

A Shanghai court has confirmed that owning digital assets, including Bitcoin, is legal under Chinese law. Judge Sun Jie of the Shanghai Songjiang People’s Court shared this opinion through the WeChat account of the Shanghai High People’s Court.

More Cryptocurrencies News
BTC hits an all-time high above $97,850, inches away from the $100K mark

BTC hits an all-time high above $97,850, inches away from the $100K mark

Bitcoin hit a new all-time high of $97,852 on Thursday, and the technical outlook suggests a possible continuation of the rally to $100,000. BTC futures have surged past the $100,000 price mark on Deribit, and Lookonchain data shows whales are accumulating.

More Bitcoin News
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.

More Shiba Inu News
Bitcoin: New high of $100K or correction to $78K?

Bitcoin: New high of $100K or correction to $78K?

Bitcoin surged to a new all-time high of $93,265 in the first half of the week, followed by a slight decline in the latter half. Reports highlight that Bitcoin’s current level is still not overvalued and could target levels above $100,000 in the coming weeks.

Read full analysis
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

BTC

ETH

XRP