Understanding opBNB, the new Layer 2 network launched by BNB Chain in one article
Get to know opBNB, BNB Chain's new Layer 2 network, in just one article.
Author: BNB Chain; Translation: Planet Daily
BNB Chain announced the launch of opBNB testnet tonight, which is an Ethereum Virtual Machine (EVM) compatible L2 scalability solution based on the Optimism OP Stack. opBNB greatly improves the scalability of L1 to reduce network congestion and network fees while maintaining a similar level of security to L1.
The innovative underlying combination of opBNB, including optimized data accessibility, cache layer, and adjusted submission process algorithm, allows for more parallel operations, allowing opBNB to achieve a Gas limit of up to 100 M. Based on these comprehensive optimizations, opBNB can support more than 4,000 transfer transactions per second, with an average transfer transaction cost of less than $0.005.
Below is the official BNB Chain blog post about the opBNB testnet.
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We are excited to introduce opBNB, an innovative scalability solution that is now available on the Binance Smart Chain (BSC). opBNB represents our commitment to ensuring seamless and efficient experiences for users, developers, and projects on BSC. This development is part of our ongoing mission to bring the power of blockchain to everyone while embracing and driving innovation.
The 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 BSC’s answer to the scalability challenges of limiting blockchain technology. 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 BSC’s scalability while maintaining affordability and security.
The introduction of Optimistic Rollups was to reduce the computational load on the main chain by executing transactions off-chain and only publishing transaction data as call data on-chain. This approach greatly improves scalability by bundling multiple transactions together before submitting them to the main chain.
Combined with BSC’s powerful capabilities and opBNB-specific new features, such as making data access easier, improving the cache system, and adjusting the submission process algorithm to allow for simultaneous operations (also known as batching), OpBNB can increase the Gas limit to an amazing 100 M, which is a big leap compared to Optimism’s 30 M. Thanks to these new features, OpBNB can process more than 4,000 transfer transactions per second and keep the average transaction cost below $0.005.
Why is opBNB important?
By harnessing 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 with lower gas fees.
Additionally, opBNB adopts a fraud proof scheme to ensure the validity of transactions. Anyone can challenge the result of a rollup transaction by computing a fraud proof; if successful, the transaction is re-executed, thus maintaining the integrity of the network.
Benefits to Projects and Developers
With opBNB, developers can access a powerful, EVM-compatible platform that allows for the creation of an open ecosystem. The opBNB team has made significant contributions to the Optimism Stack to support Layer 2 solutions. Leveraging this stack simplifies the process for EVM developers to port their applications to BSC, which can help them reach more users.
Projects can also benefit from higher throughput and significantly reduced transaction costs to provide customers with a better user experience. In addition, projects that have previously struggled with the high transaction volume burden on BSC can thrive with opBNB’s increased scalability. The following is a brief summary of opBNB’s advantages:
Enhanced scalability: As previously mentioned, opBNB can support over 4,000 transfer transactions per second. Thanks to opbnb’s innovation, all of this is possible, composed of data accessibility, cache layer optimization, and adjustments to the submission process algorithm to allow for batching. This is a significant improvement compared to the current capacity of BSC, making it an ideal choice for applications with a large number of daily active users.
As a result, developers do not have to worry about their projects clogging up the network, ensuring smooth and uninterrupted operation. Additionally, with average transfer transaction costs dropping to below $0.005, creating and running applications becomes more feasible for developers, especially those with high-frequency microtransactions. Lower transaction costs can also attract more users, potentially increasing adoption and success rates for your application.
EVM compatibility: Being EVM compatible means opBNB provides an 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 leverage this advantage to fully utilize the Ethereum and BNB smart chain ecosystems.
Safety and Trust: Safety remains a cornerstone of opBNB thanks to its fraud-proof scheme. This ensures all off-chain transactions are valid, providing an extra layer of trust and confidence for developers and users alike. Additionally, the transparency and verifiability of transactions on opBNB encourage a healthier, safer app environment.
Future-Focused Development: The blockchain space is rapidly evolving, and adaptability is key to continued growth. With opBNB’s powerful and flexible framework, developers can easily adapt to changes, add new features, and experiment with innovative ideas. This makes opBNB not just a solution for today, but a strategic choice for the future.
Rich Ecosystem Integration: opBNB is not just a standalone layer 2 solution; it’s part of the wider, vibrant BSC ecosystem. This integration provides opportunities for developers and projects to interact with a variety of other projects and tokens, including BNB, USDT, and other future ERC 20 tokens supported by opBNB.
OpBNB has the potential to facilitate growth across a range of applications, from gaming dApps to social networks, thanks to the efficient and cost-effective blockchain environment it provides.
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. But it’s just the beginning.
We invite developers and projects to experiment with opBNB. Whether you’re looking 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 contribute to the wider BSC ecosystem and the future of blockchain technology.
Let’s harness the power of opBNB to create an efficient, scalable, and sustainable blockchain ecosystem. The future is optimistic, and we’re excited to shape it with you. Join the testnet release on June 19th and start building on opBNB today!
