BNB Chain Unveils opBNB: A Layer 2 Rollup Based on Optimism’s OP Stack

BNB Chain, Binance’s Ethereum-compatible Layer 1 blockchain, has made a significant move in the world of blockchain technology with the unveiling of opBNB, a Layer 2 rollup based on Optimism’s OP Stack. The testnet for this new network was launched on June 19, and the team is now seeking feedback from validators and dApp developers.

According to BNB Chain, opBNB has the capability to process more than 4,000 transactions per second, all while maintaining average transaction fees of less than half a cent. This is a major development in the world of blockchain technology, as it promises to alleviate congestion and reduce transaction costs by moving computation and state storage off-chain.

In addition to improved data availability, batched transactions, and a 100M gas limit, opBNB also simplifies the process of migrating Ethereum Virtual Machine (EVM) code over to BNB Chain from Ethereum. This move is expected to make it easier for developers to transition their projects to the BNB Chain ecosystem.

Despite the exciting news surrounding opBNB, the native BNB token’s price has remained relatively flat over the past 24 hours. However, BNB Chain’s embrace of Layer 2 solutions positions the network to better compete with Ethereum’s growing L2 ecosystem.

While BNB Chain was once a dominant force in the smart contract space, it now finds itself ranked fourth behind Ethereum, Arbitrum, and Tron. This shift in rankings highlights the importance of staying competitive in the ever-evolving world of blockchain technology.

Overall, the launch of opBNB and BNB Chain’s adoption of Layer 2 solutions mark a significant step forward for the network. With the potential to process more transactions at lower costs, BNB Chain is positioning itself as a key player in the future of blockchain technology.