Source: BNB Chain Blog
BNB Smart Chain (BSC) has now launched an innovative scaling solution called opBNB. opBNB is our commitment to ensuring seamless and efficient experiences for users, developers, and projects on BSC. This development is part of our mission to constantly move forward and lead innovation. The opBNB testnet will launch on June 19, 2023, and we invite testnet validators and dApp developers to try the testnet and provide feedback.
What is opBNB?
opBNB is a scaling solution for BSC. As a layer 2 blockchain compatible with Ethereum Virtual Machine (EVM), opBNB is based on the Optimism OP Stack, further improving BSC’s scalability, while maintaining affordability and security.
Optimistic Rollups proposed a way to mitigate the computational load on the main chain by executing transactions off-chain and only publishing transaction data as calldata on the main chain. This method greatly improves scalability by bundling multiple transactions together and then submitting them to the main chain.
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Combined with BSC’s powerful capabilities and opBNB’s unique new features, including simplified data usage, improved caching system, and adjusted submission process algorithm to support concurrent operations (also known as batch processors), opBNB can increase Gas limit to 100 million. This is a huge improvement compared to Optimism’s 300,000 (source: link). With these new features, opBNB can process over 4,000 transfer transactions per second and the average cost per transaction is less than $0.005.
Why is opBNB important?
By leveraging the power of Optimistic Rollups, opBNB moves computation and state storage off-chain, relieving congestion and reducing transaction costs. Transactions are executed off-chain, but their data is published as calldata on the mainnet. This revolutionary approach achieves a high-throughput environment with lower Gas fees.
In addition, opBNB adopts a fraud proof scheme to ensure the validity of transactions. Anyone can challenge the result of a rollup transaction by computing a fraud proof, and if successful, the transaction will be re-executed to maintain the integrity of the network.
Benefits for projects and developers
With opBNB, developers can access a powerful and EVM-compatible platform to build an open ecosystem. The opBNB team has made significant contributions in supporting the Optimism Stack, a second-layer solution. Leveraging this stack streamlines the process for EVM developers to migrate their applications to BSC, helping them reach more users.
Projects can also utilize the increased throughput and significantly reduced transaction costs to offer their customers a better user experience. Furthermore, projects that previously faced high transaction volume burdens on BSC can thrive with opBNB’s increased scalability. Here are some benefits of opBNB:
1. Enhanced Scalability: As mentioned above, opBNB can support over 4,000 transfer transactions per second. This is thanks to innovative features of opBNB, including optimized data browsing, improved caching system, and adjusted submission process algorithm to support concurrent operations (also known as batch processors). This is a significant improvement over the current capacity of BSC, making it ideal for applications with a large number of daily active users. Therefore, developers do not have to worry about their projects congesting the network, ensuring smooth and uninterrupted operation. Additionally, with the average transfer transaction cost dropping below $0.005, developers can more easily create and run applications, particularly those that require high-frequency microtransactions. Lower transaction costs can also attract more users, potentially increasing the adoption and success rates of applications.
2. EVM Compatibility: Being EVM-compatible means that opBNB provides a platform for developers familiar with Ethereum tools and dApps. This compatibility simplifies the migration or scaling of existing Ethereum applications to BSC, providing a wider audience and resources. Developers can leverage this advantage to fully utilize the Ethereum and BNB smart chain ecosystems.
3. Security and Trust: Security remains a cornerstone of opBNB due to its fraud-proof scheme. This ensures that all off-chain transactions are valid, providing an additional layer of trust and confidence for developers and users. Additionally, the transparency and verifiability of transactions on opBNB encourage a healthier, safer application environment.
4. Future-oriented Development: The blockchain space is rapidly evolving, and maintaining adaptability is critical to continued growth. With opBNB’s powerful and flexible framework, developers can easily adapt to changes, add new features, and experiment with innovative ideas. This makes opBNB not just a solution for now, but a strategic choice for the future.
5. Rich Ecosystem Integration: opBNB is not just a standalone Layer 2 solution; it is part of the wider and vibrant BSC ecosystem. This integration provides developers and projects with opportunities to interact with a variety of other projects and tokens, including BNB, USDT, and other future ERC20 tokens supported by opBNB.
opBNB has the potential to facilitate the growth of various applications, from gaming dApps to social networks, thanks to the efficient and cost-effective blockchain environment it provides.
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