BNB Chain, the blockchain network founded by Binance, has unveiled a new layer-2 solution. It's called opBNB. The testnet launched on June 19.
OpBNB is based on the Optimism OP Stack. Binance claims it will boost security and scalability. The new chain is compatible with Ethereum Virtual Machine (EVM).
BNB Chain currently processes about 2,000 transactions per second. Transaction costs hover around $0.10. OpBNB promises to up the ante.
According to Binance, opBNB can handle over 4,000 transfer transactions per second. The average cost? Less than half a cent. That's pretty sweet, if true.
The new layer-2 solution also tweaks a few other things. It optimizes data accessibility and the caching layer. It also adjusts the submission process algorithm.
These changes allow for a higher gas limit. OpBNB can handle 100 million per block, compared to Optimism's 30 million. Binance is pulling out all the stops here.
Binance is touting opBNB as their answer to blockchain's scalability problem. They reckon it's been holding back mass adoption. No kidding, Sherlock.
OpBNB uses Optimistic Rollups to scale transactions. It processes data off the root chain, assuming it's valid until proven otherwise. Sounds risky, but that's the game.
The new solution also simplifies integration with a user-friendly RPC service layer. Developers can focus on building apps without sweating the technical stuff.
Not everyone's buying the hype, though. Adam Cochran of Cinneamhain Ventures threw shade at the move. He reckons BNB Chain's scaling issues stem from unsafe centralization.
Cochran suggested alternative solutions. Joining Optimism as a "superchain" or becoming an Ethereum layer-2 were among his ideas. But Binance seems set on doing its own thing.
Despite the skepticism, BNB Chain remains a big player. It's the third-largest blockchain in DeFi total value locked, behind Ethereum and Tron. It boasts $3.38 billion in TVL and about a million daily active users.
Will opBNB be the game-changer Binance hopes for? Or is it just another layer in an increasingly complex crypto cake? Only time will tell. For now, the crypto world watches and waits.