Founded by Binance, BNB Chain aims to increase transaction speed in the BNB Chain ecosystem, as an important development. It also introduced opBNB, a Layer 2 network designed to ease dapp fees.
Increasing transaction speeds and reducing fees
The main purpose of opBNB is to speed up the transaction process. At the same time reduce the relevant fees. This move significantly lowers gas fees, in line with BNB Chain’s overarching mission. Thus, it aims to make blockchain technology more accessible to a wider audience. It also attracts attention because it is supported by Binance.
The launch of OpBNB’s mainnet marks a pivotal moment for the BNB Chain ecosystem as it seeks to redefine blockchain technology. The mainnet went live on September 13, 2023, promising to deliver on its commitment to improve user experiences and encourage broader adoption of blockchain technology.
Binance and rigorous testing for reliability
During the development phase of opBNB, BNB Chain developers conducted rigorous testing covering more than 35 million transactions. Accordingly, this rigorous approach ensures the scalability and security of the network. BNB Chain Senior Architect Arno Bauer states that scalability and security are very important for opBNB. He also emphasizes that the network moves to the mainnet only after strict criteria are met. The developments are also an important step for Binance.
Understanding Binance and BNB Chain
Founded by Binance, BNB Chain is a robust and dynamic blockchain network. It is described as a community-driven, permissionless and decentralized blockchain ecosystem. Although originally created by Binance, BNB Chain embodies the principles of decentralization and inclusivity. On the other hand, it is turning into a community-led initiative.
The introduction of opBNB underscores BNB Chain’s commitment to advancing blockchain technology for the benefit of all users. Addressing transaction speed and fees, opBNB aims to provide a more accessible and efficient blockchain experience. BNB Chain continues to evolve and innovate. Meanwhile, Binance and the broader blockchain community are eagerly awaiting the transformative potential of opBNB in shaping the future of decentralized technologies.
Adheres to Optimism
As the name suggests, we see that the Layer-2 network opBNB is connected to Optimism. Accordingly, the cryptocurrency network, which works on scaling issues, was developed thanks to Optimism’s OP Stack package. The aim of the project is to enable ETH-based decentralized applications (dApps) to run on other chains. Developers are reducing dAapp fees. On the other hand, it is working to increase processing speeds. The Binance community is also eagerly awaiting the developments.
OpBNB network started closed tests in June when we look at it as cryptokoin.com. On the other hand, it operated with limited participation in August. Today, the Layer-2 initiative is available to everyone.
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