BNB Chain, a community-driven blockchain ecosystem that includes the world’s largest smart contract blockchain, today shared BNB Chain’s performance report for the first quarter of 2024. It highlights key growth metrics and updates for BNB Chain’s layer 1 (L1) BNB Smart Chain (BSC), its L2 opBNB, decentralized storage solution BNB Greenfield, and security measures.

Binance Exchange - the world's largest Bitcoin exchange, register to receive a 20% commission rebate.

Binance: Click on the Binance registration link, referral code XSGEK3VL

Binance Registration:https://www.binance.com/zh-CN/join?ref=XSGEK3VL(20% commission rebate) Or refer to the Binance registration tutorial. Spot contracts are automatically rebated 20% every hour.

In the first quarter of 2024, BSC's average daily active users (DAU) increased by 27.3% quarter-on-quarter to 1.4 million. During the same period, BSC's total value locked (TVL) increased by 70.8%, from US$3.49 billion in January to US$5.96 billion at the end of the first quarter. In the first quarter of 2024, the price of BNB tokens increased by 93.5%, twice that of the fourth quarter of 2023 (42.9%). During the same period, the market capitalization also increased by 93.5% to US$43.7 billion. From January to March 2024, the total number of unique addresses on BSC increased by 5.3% to 435 million, leading among EVM-compatible blockchains in terms of daily new unique addresses.

In Q1 2024, as part of the “One BNB” strategy, opBNB continued to show growth and is currently the leading blockchain in the industry in terms of daily active users (DAU). This milestone was achieved at the same time as the total number of unique addresses on opBNB surpassed 20 million during the quarter.

Key technical updates were also introduced this quarter, with a focus on scalability and optimization. The opBNB team launched a 2024 roadmap with the goal of achieving 10,000 TPS and making it 10x more cost-effective. The integration of the Path-Based Storage System (PBSS) solution, which aims to optimize opBNB's blockchain storage, is also in progress and is expected to be launched in Q2 2024. In addition, new opBNB projects, such as Bitget Wallet and Binance Web3 Wallet, began using the opBNB bridge, and a custom gas token for opBNB is currently being developed.

Decentralized storage platform BNB GreenField has made great progress in exceeding 415GB ​​of network storage data size. On February 22, 2024, the peak size of daily storage data hit a new high of 33.84 GB.

It is worth noting that BNB GreenField implemented three main branches named Hulunbuir, Ural and Poni. Each fork is designed to bring unique enhancements that significantly improve user experience and backend operations.

Overall, the value loss was 55.8% less than the same period last year, which emphasizes the continuous improvement of the network and reaffirms BNB Chain’s commitment to security and safeguarding user interests through AvengerDAO.

Read the BNB Chain Q1 report in full here.

About BNB Chain

BNB Chain is a community-driven blockchain ecosystem that is removing barriers to Web3 adoption. It includes:

  • BNB Smart Chain (BSC): A secure DeFi hub with the lowest gas fees of any EVM-compatible L1; serves as the governance chain of the ecosystem. opBNB: Scalable L2, providing the lowest gas fees and fast processing speeds of all L2s. BNB Greenfield: Meets the decentralized storage needs of the ecosystem and allows users to build their own data markets.

The AvengerDAO community sets a high bar for security, protecting BNB Chain users, while Red Alarm provides a real-time risk scanner for Dapps. The ecosystem also offers a range of currencies and ecosystem rewards as part of its builder support program.

For more information, users can follow BNB Chain on X or start exploring through BNB’s Dapp library.