Binance has taken another step towards addressing scalability issues. opBNB, the new layer-2 chain developed by BNB Chain, aims to provide additional security and scalability to the Binance blockchain network. BNB Chain stated that opBNB, built on the Optimism OP Stack, is a solution for blockchain networks facing congestion and high fees. #opbnb

Layer-2 Scaling Solution:

opBNB is a second-layer chain that is Ethereum Virtual Machine (EVM) compatible. This means that opBNB is compatible with Ethereum-based smart contracts, networks, and ERC-20 token standards. According to BNB Chain's announcement, opBNB can support over 4,000 transactions per hour on average and have transaction costs below $0.005. This is a significant development compared to Binance blockchain's approximately 2,000 transactions per hour and $0.10 transaction cost. #erc20

Advantages of opBNB:

opBNB provides the ability to process transactions simultaneously by optimizing data accessibility, caching layer, and submission process algorithm. This allows Optimism to increase the gas limit from the current level of 30 million per block to 100 million. Binance referred to opBNB as an answer to the scalability problem that limits the mass adoption of blockchain technology. It should be noted that Optimism assumes the scalability of transactions using Optimistic Rollups, where transactions are processed on the root chain.

Integration and Developer Focus:

opBNB's RPC service layer facilitates the integration process by offering a user-friendly interface. This allows developers to focus on building applications "without worrying about Layer-2 scaling complexities." BNB Chain's opBNB has sparked debates among those who have doubts about scalability issues. Some critics claimed that BNB Chain's fork of Optimism centralized Ethereum and raised the gas limit to an unsafe level. However, it is noted that other options are available, including joining Optimism as a "Layer-1" or conducting transactions directly on Ethereum as a second layer or on third layers such as Optimism or Arbitrum.

In summary:

opBNB, developed by BNB Chain on the Optimism OP Stack, is a second-layer chain that aims to provide additional security and scalability to the Binance blockchain. The capacity of opBNB to support over 4,000 transactions per hour and offer low transaction costs is considered a significant step towards widespread adoption of blockchain technology. This development provides a new option for developers to focus on the application-building process and overcome scalability issues. #bsc