Explore the details of Binance BNB Chain Leverages Optimism for Layer-2 Testnet
A new layer-2 chain has been unveiled by BNB Chain, a Binance-established layer-1 blockchain, to address its scalability challenge.
opBNB, a testnet that went live, was announced by BNB Chain. The Optimism OP Stack is the foundation for the new layer-2 scaling solution, which the company claims will improve the security and scalability of the Binance blockchain network.
Being a layer-2 chain compatible with the Ethereum Virtual Machine (EVM), the system is compatible with Ethereum-based smart contracts, networks, and ERC-20 token specifications.
During increased network demand, blockchains frequently experience congestion and high fees. BNB Chain claims approximately 2,000 transactions per second at about US$0.10 per transaction.
According to the press release, opBNB can process over 4,000 transfer transactions per second at an average cost of less than US$0.005.
It was also noted that opBNB makes it possible to optimize data accessibility, the caching layer, and the submission process algorithm to perform simultaneous operations. This enables it to raise the gas limit from the 30 million that Optimism permits to 100 million per block.
Binance referred to opBNB as its “answer to the scaling challenge that has limited the mass adoption of blockchain technology” in a statement.
Optimism scales transactions by automatically presuming that transaction data processed off the root chain is legitimate unless otherwise verified through Optimistic Rollups.
Additionally, it is said that by offering a straightforward interface, the RPC (remote procedure call) service layer facilitates the integration process.
Adam Cochran, a partner in Cinneamhain Ventures, expressed skepticism regarding the development, stating that BNB Chain had to scale issues “because they centralized an Ethereum fork and turned up the gas limit to an unsafe level.”
Optimism’s fork, he continued, “made no sense” given the alternatives available, such as joining Optimism as a “super chain,” rising to the layer-2 position directly on Ethereum, or even becoming a layer-3 on either Arbitrum or Optimism.
