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opBNB: A New Era of Scalability and Decentralization for BNB Chain

Jun 25, 2024
opBNB: A New Era of Scalability and Decentralization for BNB Chain
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opBNB — is a layer 2 (L2) network for BNB Chain that utilizes the OP Stack technology stack to enhance node performance and compatibility with the Ethereum Virtual Machine (EVM). The project's goal is to improve scalability, increase transaction speed, and reduce fees in the blockchain.

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opBNB: A New Era of Scalability and Decentralization for BNB Chain - news

History of the BNB Chain Project

In April 2019, the Binance team launched a network based on Cosmos Tendermint called Binance Chain, using the Delegated Proof-of-Stake consensus algorithm. A year later, Binance Smart Chain was introduced — a blockchain with support for smart contracts running parallel to Binance Chain.

In 2022, both networks were merged into one — BNB Chain, with the goal of creating a scalable and decentralized blockchain for large applications, including GameFi.

As part of this task, the team began developing an L2 solution, which led to the creation of opBNB in June 2023.

The test network operated for several months, during which it successfully processed over 35 million transactions involving 435,000 unique addresses and deployed at least 150 decentralized applications. The opBNB mainnet was launched on September 13, 2023.

opBNB Structure

opBNB consists of three main components: the sequencer, prover, and verifier. Their common goal is to reduce the load on the main BNB Chain network.

Sequencer is responsible for aggregating transactions, calculating blockchain state changes, and transmitting relevant information to the rollup contract. This contract processes and confirms transactions, after which the data is sent to the BNB Chain.

Prover generates proofs to verify blockchain state changes, ensuring their accuracy and preventing third-party interference.

Verifier checks the proofs created by Prover. This component acts as the second layer of protection, ensuring the integrity of opBNB.

The operation process is as follows:

  • Users make transactions in opBNB.
  • Prover verifies them and generates proofs.
  • After verification, the sequencer aggregates and sends transactions to the BNB Chain.
  • If the sequencer detects discrepancies, the information is sent to the verifier for review. The verifier submits proofs of the transaction's validity or its violation to the BNB Chain.

opBNB: A New Era of Scalability and Decentralization for BNB Chain - news

Advantages of Using opBNB

opBNB uses the OP Stack as a development environment, allowing for the customization of execution clients and expanding the capabilities of smart contracts. The OP Stack can also enable the system to switch between different levels of data availability (DA), such as using the BNB Greenfield infrastructure.

The network provides high scalability and throughput (over 4500 transactions per second), which is twice the rate of BNB Chain.

Comparative data:

Characteristic opBNB BSC Ethereum Optimism Arbitrum
Token BNB BNB ETH ETH ETH
Virtual Machine EVM EVM EVM EVM EVM
Gas Price Model EIP-1559 Gas Price Auction EIP-1559 N/A N/A
Block Gas Limit 100M 140M 30M 30M 32M
Block Time 1s 3s 12s 2s 0.25s
Transaction Cost $0.005 $0.03 $1 $0.05 $0.1
TPS (transactions per second) 4500+ N/A N/A 700+ 4000+
Withdrawal / Finalization Period 7 days N/A N/A 7 days 7 days

Low fees, high speed, and performance make opBNB attractive for Web3 games and large-scale applications.

Future of the Blockchain Project

The developers have already launched the opBNB mainnet and are now focused on improving resilience and decentralization. Several key areas have been highlighted in this direction.

Proof Improvement

Priority is given to the security and integrity of off-chain transactions. The developers are exploring various approaches within the OP Stack to enhance the efficiency of the fraud protection system. This includes improving the autonomous infrastructure, optimizing task execution intervals, and studying alternative solutions such as zero-knowledge proofs.

Account Abstraction

To enhance network flexibility, work is underway to implement account abstraction — a feature that optimizes interaction within the network.

Interaction with BNB Greenfield

Strengthening the interaction between opBNB and BNB Greenfield — a decentralized data storage system within the BNB Chain ecosystem — is an important priority. This approach fosters a collaborative environment for developers, encourages innovation, and enhances cross-network utility.

Decentralization of Sequencers

To ensure fairness and security in block production, a mechanism for the decentralization of sequencers is being developed, minimizing the risk of centralization and enhancing network resilience.

opBNB is a promising L2 solution for BNB Chain, offering numerous advantages. With high transaction processing speed, low gas fees, and diverse interaction capabilities, opBNB has the potential to become one of the leading projects in the market.

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