The combination of BSC’s strong ability and opBNB’s dedicated new features will make data access easier.
In a major announcement on Monday, June 19, Binance-founded Layer-1 blockchain platform BNB Smart Chain (BSC) introduced a new scalability solution opBNB, with the goal of offering a seamless experience for users, developers, and projects on BSC.
Binance unveiled the testnet on the very same day inviting testnet validators and dApp builders to try their hands. They noted that opBNB will address the scalability requirements for the mass adoption of blockchain technology.
Powered by Optimism’s OP Stack, opBNB is also an Ethereum Virtual Machine (EVM) compatible layer 2 chain. The role of Optimistic Rollups is to make things easier on the main chain by doing transactions outside of it. They only put the important transaction data on the main chain. This helps increase how much the system can handle by grouping many transactions together before sending them to the main chain.
The combination of BSC’s strong ability and opBNB’s dedicated new features will make data access easier. It will also improve the cache system while adjusting the submission process algorithm. Additionally, it will allow simultaneous operations while allowing opBNB to push the gas limit to a massive 100M. This would be a massive jump from Optimism’s 30M gas limit.
With all these new features at work, opBNB will be able to handle 4000 transactions per second while keeping the average transaction cost under 0.005 USD.
Benefits of opBNB
BSC’s opBNB solution provides developers access to a robust EVM-compatible platform thereby allowing the creation of open systems. The opBNB team has helped make the Optimism Stack better, which makes it easier for developers to bring their applications to BSC.
This means more people can use their apps. It also improves the speed and lowers the cost of transactions, making things better for users. Projects that had trouble before because of too many transactions can now do well with opBNB’s improved scalability. Some of the other benefits include:
- EVM Compatibility: Being EVM-compatible, developers who know how to use Ethereum can easily use opBNB too. They can move or add their apps from Ethereum to BSC without much trouble. This means they can reach more people and have more resources to work with. They can use the good things from both Ethereum and BNB Smart Chain.
- Security and Trust: opBNB takes security seriously by using a fraud-proving scheme. This makes sure that all transactions done off-chain are real and trustworthy. It gives developers and users more trust and confidence. Also, the transparency and verifiability of transactions on opBNB make the app environment safer and better for everyone.
- Future Proof: opBNB provides a flexible framework for developers to adapt, innovate, and grow in the evolving blockchain space. It is a strategic choice for the future, enabling developers to easily add new features and experiment with innovative ideas.
- Rich Ecosystem Integration: opBNB is more than just a layer 2 solution. It is seamlessly integrated into the thriving BSC ecosystem, offering developers and projects a chance to engage with a diverse range of tokens and projects. This includes popular options like BNB, USDT, and upcoming ERC20 tokens supported on opBNB.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
