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Binance’s BNB Chain introduces a tier2 testnet powered by Optimism

BNB ChainLayer 1 blockchain built by Binance, launched a new chain layer 2 hoped to fix “scalability problem”.

on 19 June BNB Chain offered opBNB, started on testnet. New layer-2 scalability solution based on Optimism OP StackBinance will add more security and scalability to its blockchain network, BNB Chain says.

The system is a layer-2 chain compatible with: Ethereum Virtual Machine (EVM), means it works with smart contracts, nets And Ethereum-based ERC-20 token standards.

Blockchains are often affected by network congestion and high fees during peak demand periods. Right now BNB Chain requests around 2,000 transactions per second at a cost of around $0.10.

According to the advertisement, opBNB can support more than 4,000 transactions per second with an average cost of less than $0.005.

As blockchain technology continues to evolve, scalability remains a critical challenge.

But don’t be afraid! Introducing opBNB, a game-changing Layer 2 scalability solution designed to overcome the limitations of Layer 1 (L1) networks.

Let’s talk about opBNB below

— BNB Chain (@BNBCHAIN) 19 June 2023

In addition, opBNB also allows you to optimize data availability, caching level, and adjust the send processing algorithm to allow simultaneous transactions. This allows you to increase the gas limit by: 100 million per block compared to the 30 million that optimism allows.

Binance named opBNB as its own in a statement. “Responding to the scalability problem limiting mass adoption of blockchain technology”.

optimism uses Optimistic aggregations to scale operations undertake automatically the same dataprocessed outside of the main chain, valid until proven otherwise.

Besides, RPC service layer (remote procedure call) simplifies the integration process by offering an easy-to-use interface.

This is the developers “Focus on building apps without worrying about the complexity of Tier 2 scaling”, added.

We’re already seeing the first wave of development in OpBNB – who’s next?

— BNB Chain (@BNBCHAIN) 19 June 2023

Adam CochranPartner of Cinneamhain Ventures, commented BNB Chain has scalability issues “because it centralized an Ethereum fork and raised the gas cap to an unsafe level.”

Added Rather than forking optimism “doesn’t make sense” there are other options, for example Join the optimism by: “super chains”or be layer-2 directly on Ethereum, or A layer on Optimism or Arbitrum-3.

Second defecation, BNB Chain is the third largest blockchain after Ethereum and Tron., in terms of the total value locked in DeFi. It has a TVL of $3.38 billion, daily volume of $264 million, and approximately one million daily active users.

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