Why does BNB Chain launch the Layer 2 network opBNB?

Original Title: "Understanding opBNB, the Layer 2 Network Newly Launched by BNB Chain"

Source: Odaily

BNB Chain has announced the launch of the opBNB testnet, which is an Ethereum Virtual Machine (EVM) compatible L2 scalability solution based on the Optimism OP Stack. opBNB significantly improves the scalability of L1 to reduce network congestion and fees, while maintaining a similar level of security as L1.

opBNB is an innovative underlying combination that includes optimized data accessibility, caching layer, and adjusted submission process algorithms to allow for more parallel operations, enabling opBNB to reach a Gas limit of up to 100 M. Based on these comprehensive optimizations, opBNB can support over 4000 transfer transactions per second, with an average transfer transaction cost of less than 0.005 USD.

We are pleased to introduce opBNB, an innovative and scalable solution that is now available on the Binance Smart Chain (BSC). This represents our commitment to ensuring seamless and efficient experiences for users, developers, and projects on the BSC. This development is part of our ongoing mission to bring the power of blockchain to everyone while embracing and driving innovation.

opBNB testnet will launch on June 19, 2023! We call on testnet validators and dApp builders to try the testnet and provide feedback.

What is opBNB?

opBNB is the answer to the scalability challenge faced by the blockchain industry in adopting restricted blockchain technology on a large scale. As a layer 2 network compatible with the Ethereum Virtual Machine (EVM), the opBNB solution is based on the Optimism OP Stack to further enhance the scalability of BSC while maintaining affordability and security.

The proposal of Optimistic Rollups is to reduce the computational load on the main chain by executing transactions off-chain and only publishing transaction data as call data on the chain. This method greatly improves scalability by bundling multiple transactions together before submitting them to the main chain.

BSC's powerful capabilities combined with new features specifically designed for opBNB, including making data access easier, improving the caching system, and adjusting the submission process algorithm to allow for simultaneous operations (also known as batch processing), allows OpBNB to increase its gas limit to an astonishing 100 M, a significant leap compared to Optimism's 30 M. Thanks to these new features, OpBNB can process over 4000 transfer transactions per second and maintain an average transaction cost of less than $0.005.

Why is opBNB important?

By leveraging the power of Optimistic Rollups, opBNB moves computation and state storage off-chain, alleviating network congestion and reducing transaction costs. Transactions are executed off-chain, but their data can be published to the mainnet as call data. This revolutionary approach achieves high throughput environments with lower gas fees.

Additionally, opBNB utilizes a fraud-proof scheme to ensure the validity of transactions. Anyone can challenge the result of a rollup transaction by calculating a fraud-proof; if successful, the transaction will be re-executed, thus maintaining the integrity of the network.  

Benefits for Projects and Developers

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

The project can also leverage higher throughput and significantly reduced transaction costs to provide customers with a better user experience. In addition, projects that previously struggled with the high transaction volume burden on BSC can thrive with the scalability provided by opBNB. Here is a brief summary of the advantages of opBNB:

Enhanced Scalability: As mentioned earlier, opBNB can support over 4000 transaction transfers per second. Thanks to opBNB's innovation, all of this is made possible through a combination of data accessibility, optimized caching layers, and adjusted submission algorithms to allow for simultaneous operations (also known as batch processing). Compared to the current capacity of BSC, this is a significant improvement, 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, ensuring smooth and uninterrupted operation. In addition, with the average transfer transaction cost dropping below $0.005, it becomes more feasible for developers to create and run applications, especially those that require high-frequency microtransactions. Lower transaction costs can also attract more users, potentially increasing the adoption and success rate of your application.

EVM Compatibility: Being compatible with EVM means that opBNB provides a accessible platform for developers familiar with Ethereum tools and dApps. This compatibility simplifies the migration or expansion of existing Ethereum applications to BSC, providing a wider audience and resources. Developers can take advantage of this benefit to fully leverage the Ethereum and BNB smart chain ecosystems.

Security and Trust: Due to the fraud-proof scheme, security remains the cornerstone of opBNB. This ensures that all off-chain transactions are valid, providing an additional layer of trust and confidence for developers and users alike. Additionally, the transparency and verifiability of transactions on opBNB encourage a healthier and safer application environment.

Future-oriented development: The blockchain industry is rapidly developing, and maintaining adaptability is the key to sustained growth. With the powerful and flexible framework of opBNB, developers can easily adapt to changes, add new features, and experiment with innovative ideas. This makes opBNB not only a current solution, but also a strategic choice for the future.

Rich Ecosystem Integration: opBNB is not just a standalone layer 2 solution; it is part of a broader and vibrant BSC ecosystem. This integration provides developers and projects with opportunities to interact with a variety of other projects and tokens, including BNB, USDT, and other future ERC20 tokens supported by opBNB.

OpBNB has the potential to promote the growth of various applications, from gaming dApps to social networks, thanks to its efficient and cost-effective blockchain environment.

Let's build together

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

We invite developers and projects to try out opBNB. Whether you want to build a high-capacity decentralized application, gaming platform, or social network, opBNB provides an ideal environment for your creativity. Your contributions will not only benefit your project, but also contribute to the wider BSC ecosystem and the future of blockchain technology.

Let's use the power of opBNB to create an efficient, scalable, and sustainable blockchain ecosystem together. The future is optimistic, and we are excited to shape it with you. Join the testnet release on June 19th here and start building on opBNB immediately!

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