March 27, 2024
BNB Chain Embraces Optimism's Rollup Tech
Bitcoin News

BNB Chain Adopts Optimism’s Rollup Tech for opBNB Layer-2 Scaling Platform

The BNB Chain blockchain ecosystem is poised to leverage Optimism’s rollup technology for its newly introduced opBNB layer-2 scaling platform.

BNB Chain has officially launched its Ethereum Virtual Machine (EVM)-compatible L2 on the public mainnet. This L2 solution is designed to offer reduced gas fees and faster transaction processing for decentralized applications operating within the ecosystem.

On its testnet, the opBNB platform reportedly managed over 35 million on-chain transactions and witnessed the deployment of more than 150 decentralized applications (DApps). BNB Smart Chain also claims that the platform achieved a peak of 4,000 transactions per second during a stress test, demonstrating its scalability and reliability. BNB Chain’s senior solution architect, Arno Bauer, emphasized that scalability and security were top priorities during development by stating, “These criteria included high availability, 4K transactions per second, rigorous stress testing, reduced gas costs below 0.2 gwei, fast finality in under 1 second, and enhanced security with multiple external audits.”

opBNB, based on the Optimism OP Stack and EVM-compatible, can seamlessly interact with Ethereum-based smart contracts, networks, and ERC-20 token standards.

This solution employs optimistic rollups to scale transactions by assuming that off-chain-validated transaction data is valid unless proven otherwise. While this technology has been instrumental in enhancing the scalability of the Ethereum network, critics have raised concerns about the week-long lockup of funds in such protocols during validation checks.

Optimism has experienced notable growth in daily transaction volumes and an increasing number of active daily addresses, indicating ongoing value for users and DApps utilizing the layer-2 solution. Several prominent decentralized finance (DeFi) protocols, including Uniswap, Aave, 1inch Network, SushiSwap, and Curve Finance, have chosen to deploy on Optimism to leverage its scaling capabilities.

Image by freepik

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