BNB Chain introduces a new addition to its ecosystem.
BNB Chain has announced the successful rollout of its Layer-2 scaling platform, opBNB, built on Optimism’s rollup technology.
The Ethereum Virtual Machine (EVM)-compatible layer aims to reduce gas fees while expediting transactions for decentralized applications (dApps) in the BNB ecosystem.
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During its testnet phase, opBNB reportedly processed over 35 million on-chain transactions and supported over 150 dApps. The platform demonstrated robustness by handling up to 4,000 transactions per second during stress tests.
Arno Bauer, a senior solution architect at BNB Chain, outlined the key features and goals for opBNB, emphasizing the platform’s focus on scalability and security. He stated:
This included high availability, 4K transactions per second, rigorous stress testing, reduced gas costs under 0.2 gwei, fast finality under 1 second and enhanced security with multiple external audits.
Optimism’s rollup technology underpins the new Layer-2 scaling solution, making it compatible with the EVM. This allows for seamless interaction with Ethereum-based networks, smart contracts, and ERC-20 tokens. The technology uses optimistic rollups to scale transactions, operating on the principle that off-chain transaction data is considered valid until proven otherwise.
While this has been instrumental in scaling the Ethereum network, some critics have raised concerns about the week-long lockup of funds during the validation process.
Optimism has been experiencing significant growth in both daily transaction volumes and the number of active addresses. Several decentralized finance (DeFi) platforms, such as Uniswap, Aave, 1inch Network, SushiSwap, and Curve Finance, have also adopted Optimism technology to boost their scaling capabilities.
The public mainnet launch of opBNB marks a significant milestone for the BNB Chain ecosystem, bringing scalability and efficiency gains to its user base. With Optimism’s technology as a core feature, the new Layer-2 platform looks set to enhance the transaction experience for individual users and DeFi protocols.