We are honored to launch opBNB on June 20th. OpBNB is a scalable innovative solution that has now been launched as the BNB Intelligent Chain (BSC)
We are honored to launch opBNB on June 20th. OpBNB is a scalable innovative solution that has now been launched as the BNB Intelligent Chain (BSC). OpBNB represents our commitment to users, developers, and projects to ensure a seamless and efficient experience on BSC. Developing opBNB is part of our ongoing mission to embrace and drive innovation while bringing the power of blockchain to everyone.
The opBNB testing network was launched on June 19, 2023. We call on testing network validators and dApp builders to try using the testing network and look forward to your feedback.
1. What is opBNB?
OpBNB is BSC's response to the scalability issue of limiting the large-scale adoption of blockchain technology. As the second layer chain compatible with Ethereum Virtual Machine (EVM), the opBNB solution is based on OptimismOPStack, which further enhances the scalability of BSC while maintaining affordability and security.
The proposal of Optimistic Rollup aims to reduce the computational load on the main chain by executing transactions offline and only publishing transaction data as calldata on the chain. This method packages and submits multiple transactions to the main chain, greatly improving scalability.
The combination of BSC's powerful capabilities and opBNB's dedicated new features has many benefits, such as easier data access, improved caching systems, and adjusted submission process algorithms to support simultaneous operations (batch processing), allowing opBNB to increase the gaslimit to an astonishing 100MB. Compared to Optimism's 30M, this is undoubtedly a huge leap forward. With these new features, OpBNB can process over 4000 transfer transactions per second and maintain the average cost of transactions below $0.005.
2. Why is opBNB important?
By leveraging the power of Optimistic Rollup, opBNB migrates computing and state storage offline, alleviating congestion and reducing transaction costs. The transaction is executed offline, but the transaction data will be published as calldata to the main network. This innovative method achieves high throughput with lower gas fees.
In addition, opBNB adopts a fraud proof mechanism to ensure the effectiveness of transactions. Anyone can challenge the results of a roll up transaction by calculating proof of fraud. If the challenge is successful, the transaction will be re executed to maintain network integrity.
3. What are the benefits for the project and developers?
Through opBNB, developers can access a powerful EVM compatible platform that supports the creation of open source ecosystems. The opBNB team has made significant contributions to OptimismStack, supporting the expansion of the second tier solution. The use of this stack simplifies the process of EVM developers migrating applications to BSC, which can help them reach more users.
The project can also benefit from improved throughput and significantly reduced transaction costs, providing customers with a better user experience. In addition, the project, which used to bear the heavy burden of high transaction volume on BSC, can now thrive due to the higher scalability of opBNB. The advantages of opBNB are briefly summarized as follows:
Higher scalability:
As mentioned earlier, opBNB can process over 4000 transfer transactions per second. All of this is attributed to the innovation of OPBNB, which optimizes data accessibility and cache layer, and adjusts the submission process algorithm to support simultaneous batch operations. Compared to the current capacity of BSC, this is a significant improvement, making it an ideal choice for applications with a large number of active users.
Therefore, developers do not have to worry about their projects blocking the network to ensure uninterrupted and smooth operation. In addition, as the average transfer transaction cost drops below $0.005, it becomes more feasible for developers to create and run applications, especially those with high-frequency micro trading. Lower transaction costs can also attract more users, potentially improving application adoption and success rates.
EVM compatibility:
EVM compatibility means that opBNB provides an accessible platform for developers who are familiar with Ethereum tools and dApp. This compatibility simplifies the migration or expansion of existing Ethereum applications to BSC, and provides a broader audience and resources. Developers can use this advantage to fully enjoy the benefits of Ethereum and BNB smart chain ecosystem.
Security and Trust:
Due to the use of fraud proof mechanisms, security remains a solid cornerstone of opBNB. This ensures that all offline transactions are effective, providing developers and users with more trust and confidence. In addition, the transparency and verifiability of transactions on opBNB promote a healthier and safer application environment.
Facing the future:
The blockchain field is rapidly developing, and maintaining adaptability is the key to sustained growth. With the robust and flexible framework of opBNB, developers can easily adapt to changes, add new features, and try innovative ideas. This makes opBNB not only a solution at this time, but also a strategic choice for the future.
Rich ecosystem:
OPBNB is not only an independent second layer solution, but also a part of a broader and vibrant BSC ecosystem. This integration provides developers and projects with opportunities to interact with various other projects and tokens, including future ERC20 tokens supported by BNB, USDT, and other opBNB.
OpBNB has the potential to promote the development of various applications, whether it is gaming dApps or social networks, thanks to its efficient and cost-effective blockchain environment.
4. Let's build together
The launch of opBNB has opened a new chapter in our journey towards creating a scalable, accessible, and cost-effective blockchain ecosystem. However, this is only the beginning.
We sincerely invite developers and projects to try opBNB. Whether you want to build a high-capacity decentralized application, gaming platform, or social network, opBNB provides an ideal space for your creativity to soar. Your contribution will not only benefit your own project, but also contribute to the future of the broader BSC ecosystem and blockchain technology.
Let's jointly leverage the power of opBNB to create an efficient, scalable, and sustainable blockchain ecosystem. We are pleased to shape the future together with you.
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