What is Binance Chain’s Layer 2 network opBNB? Binance’s official interpretation

What is opBNB, Binance Chain's Layer 2 network? Binance's official definition.

Author: Louisa Choe, BNB Chain; Translation: Blockingxiaozou

We are thrilled to announce the launch of opBNB on June 20th. opBNB is a scalability innovation solution that is now live on the Binance Smart Chain (BSC). opBNB represents our commitment to users, developers, and projects, ensuring that they have a seamless and efficient experience on the BSC. Developing opBNB is part of our ongoing mission to bring the power of blockchain to everyone while embracing and driving innovation.

The opBNB testnet was launched on June 19th, 2023, and we invite testnet validators and dApp builders to try it out and share their feedback.

1. What is opBNB?

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opBNB is BSC’s answer to scalability issues that limit the widespread adoption of blockchain technology. As a layer 2 chain compatible with the Ethereum Virtual Machine (EVM), the opBNB solution is based on the Optimism OP Stack, further enhancing the scalability of the BSC while maintaining affordability and security.

The proposal of Optimistic Rollup aims to reduce the computational load on the main chain by executing transactions off-chain and only publishing transaction data as calldata on-chain. This method submits multiple transactions to the main chain, greatly increasing scalability.

Combining the powerful capabilities of BSC and the dedicated new features of opBNB has many benefits, such as making data access easier, improving the caching system, adjusting the submission process algorithm to support simultaneous operations (batch processing), which allows opBNB to raise the gas limit to an astonishing 100M. This is undoubtedly a huge leap compared to Optimism’s 30M. With these new features, OpBNB can process over 4,000 transfer transactions per second and keep the average cost of transactions below $0.005.

2. Why is opBNB important?

By leveraging the power of Optimistic Rollup, opBNB migrates computation and state storage off-chain, alleviating congestion and reducing transaction costs. Transactions are executed off-chain, but transaction data is published to the mainnet as calldata. This innovative approach achieves high throughput at lower gas fees.

In addition, opBNB adopts a fraud-proof mechanism to ensure the validity of transactions. Anyone can challenge the result of rollup transactions by calculating fraud proof, and if the challenge is successful, the transaction will be re-executed, maintaining the integrity of the network.

3. What are the benefits for projects and developers?

Through opBNB, developers can access a powerful EVM-compatible platform that supports the creation of open-source ecosystems. The opBNB team has made significant contributions to the Optimism Stack, which supports the scalability of Layer 2 solutions. Using this stack simplifies the process for EVM developers to migrate their applications to BSC, which can help them reach more users.

Projects also benefit from improved throughput and significantly reduced transaction costs, providing customers with a better user experience. Additionally, projects that previously struggled with high transaction volumes on BSC can now flourish due to opBNB’s higher scalability. The advantages of opBNB are summarized briefly as follows:

Higher Scalability:

As mentioned earlier, opBNB can process over 4,000 transfer transactions per second. All of this is thanks to opbnb’s innovation, which optimizes data accessibility and caching layers and adjusts the submission process algorithm to support batch operations simultaneously. This is a significant improvement compared to BSC’s current capacity, making it an ideal choice for applications with a large number of daily active users.

Therefore, developers do not have to worry about their projects blocking the network and can ensure uninterrupted and smooth operation. Additionally, with average transfer transaction costs reduced to less than $0.005, it becomes more feasible for developers to create and run applications, especially those with high-frequency microtransactions. Lower transaction costs can also attract more users, potentially increasing the adoption and success of applications.

EVM Compatibility:

Compatibility with EVM means that opBNB provides a accessible platform for developers familiar with Ethereum tools and dApps. This compatibility simplifies the process of migrating or extending existing Ethereum applications to BSC, providing a wider audience and resources. Developers can take advantage of this advantage to fully share the benefits of the Ethereum and BNB smart chain ecosystems.

Safety and Trust:

Because it adopts a fraud proof mechanism, security is still the cornerstone of opBNB. This ensures that all off-chain transactions are valid, providing developers and users with more trust and confidence. Additionally, the transparency and verifiability of transactions on opBNB promote a healthier and safer application environment.

Looking to the Future:

The blockchain space is rapidly evolving and maintaining adaptability is key to sustained growth. With opBNB’s robust yet flexible framework, developers can easily adapt to change, add new features, and experiment with innovative ideas. This makes opBNB not just a solution for now but a strategic choice for the future.

A Rich Ecosystem:

OpBNB is not just an independent Layer 2 solution, it is also part of the larger and vibrant BSC ecosystem. This fusion provides opportunities for developers and projects to interact with a variety of other projects and tokens, including BNB, USDT, and future ERC20 tokens supported by opBNB.

OpBNB has the potential to facilitate the development of a variety of applications, whether it is gaming dApps or social networks, thanks to the efficient and cost-effective blockchain environment it provides.

4. Let’s Build Together

The launch of opBNB marks a new chapter in our journey to create a scalable, accessible, and cost-effective blockchain ecosystem. However, this is only the beginning.

We invite developers and projects to try opBNB. Whether you are building a high-capacity decentralized application, gaming platform, or social network, opBNB provides an ideal space for your creative ideas to take flight. Your contributions will not only benefit your own project but also contribute to the wider BSC ecosystem and the future of blockchain technology.

Let’s harness the power of opBNB together and create an efficient, scalable, and sustainable blockchain ecosystem. We are excited to shape the future with you.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!