Understand BNB Chain's newly launched Layer 2 network opBNB in one article

Tonight, BNB Chain announced the launch of the opBNB Testnet, an Ethereum Virtual Machine (EVM) compliant L2 scalability solution based on the Optimism OP Stack. opBNB greatly improves the scalability of L1 to reduce network congestion and network fees, while maintaining a similar security level to L1.

opBNB's innovative underlying combination, including optimizing data accessibility, caching layer, and adjusting the submission process algorithm to allow more parallel operations, enables opBNB to reach a gas limit of up to 100;M. Based on these comprehensive optimizations, opBNB can support more than 4,000 transfer transactions per second, and the average transfer transaction cost is less than $0.005.

The following is the introduction of the opBNB test network on the BNB Chain official blog, compiled by Odaily Planet Daily. ;

We are excited to launch opBNB, an innovative scalability solution, now available on the BNB Smart Chain (BSC). opBNB represents our commitment - to ensure a seamless and productive experience for users, developers and projects on BSC. This development is part of our ongoing mission to bring the power of blockchain to everyone while embracing and driving innovation.

The opBNB testnet will be launched on June 19, 2023! We call on testnet validators and dApp builders to try out the testnet and provide feedback.

What is opBNB?

opBNB is BSC's answer to the scalability challenges that limit the mass adoption of blockchain technology. As a layer 2 network compatible with the Ethereum Virtual Machine (EVM), the opBNB solution is based on the Optimism OP Stack to further enhance the scalability of BSC while maintaining affordability and security.

Optimistic Rollups are proposed to reduce the computational load on the main chain by executing transactions off-chain and only posting transaction data to the chain as call data. This approach greatly improves scalability by bundling multiple transactions together before committing them to the main chain.

The combination of BSC's powerful capabilities and opBNB-specific new features, including making data access easier, improving the caching system, and tweaking the submission process algorithm to allow simultaneous operations (also known as batching), has enabled OpBNB to increase the gas limit to staggering 100;M, which is a big leap from Optimism's 30;M. Thanks to these new features, OpBNB can process more than 4,000 transfers per second and keep the average transaction cost below $0.005.

Why is opBNB important?

By leveraging the power of Optimistic Rollups, opBNB moves computation and state storage off-chain, alleviating network congestion and reducing transaction costs. Transactions are executed off-chain, but their data can be published to the mainnet as call data. This revolutionary approach enables high-throughput environments at low gas costs.

In addition, opBNB employs a fraud proof scheme to ensure the validity of transactions. Anyone can challenge the outcome of a rollup transaction by computing a fraud proof; if successful, the transaction will be re-executed, thereby maintaining the integrity of the network. ;

Benefits for projects and developers

With opBNB, developers have access to a robust and EVM-compatible platform that allows for the creation of an open ecosystem. The opBNB team has made significant contributions to the Optimism Stack to support scaling of Layer 2 solutions. Utilizing this stack simplifies the process for EVM developers to migrate their applications to BSC, which can help them reach more users.

Projects can also leverage higher throughput and significantly lower transaction costs to provide customers with a better user experience. Additionally, projects that previously struggled with the high transaction load on BSC can thrive with the added scalability of opBNB. Here is a brief summary of the advantages of opBNB:

Enhanced scalability: As mentioned earlier, opBNB can support more than 4000 transfer transactions per second. All of this is possible thanks to opbnb's innovations, consisting of data accessibility, optimization of the caching layer, and tuning of the submission process algorithm to allow simultaneous operations (also known as batching). This is a significant increase over BSC's current capacity, making it ideal for applications with a large number of daily active users.

Therefore, developers don’t have to worry about their projects clogging up the network, ensuring smooth and uninterrupted operations. Additionally, as the average transfer transaction cost drops below $0.005, it becomes more feasible for developers to create and run applications, especially those that require high-frequency microtransactions. Lower transaction costs can also attract more users, potentially increasing the adoption and success of your application.

EVM Compatibility: Compatibility with the EVM means that opBNB provides an accessible platform for developers familiar with Ethereum tools and dApps. This compatibility simplifies the migration or extension of existing Ethereum applications to BSC, providing a wider audience and resources. Developers can take advantage of this to take full advantage of the Ethereum and BNB smart chain ecosystem.

Security and Trust: Security remains the cornerstone of opBNB due to the fraud proof scheme. This ensures that all off-chain transactions are valid, providing an extra layer of trust and confidence for developers and users alike. Additionally, the transparency and verifiability of transactions on opBNB encourages a healthier and safer application environment.

Future-proof development: The blockchain space is evolving rapidly and maintaining adaptability is key 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 now, but a strategic choice for the future.

Rich Ecosystem Integration: opBNB is not just a standalone layer;2 solution; it is part of a broader and vibrant BSC ecosystem. This integration provides developers and projects the opportunity to interact with a variety of other projects and tokens, including BNB, USDT and other future ERC;20 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.

Let's Build Together

The launch of opBNB marks the beginning of a new chapter in our journey to create a scalable, accessible and cost-effective blockchain ecosystem. However, this is just the beginning.

We invite developers and projects to experiment with opBNB. Whether you want to build a high-volume decentralized application, gaming platform or social network, opBNB provides an ideal environment for your creativity. Your contribution will not only benefit your project, but also contribute to the broader BSC ecosystem and the future of blockchain technology.

Let's leverage the power of opBNB together to create an efficient, scalable and sustainable blockchain ecosystem. The future is bright, and we're excited to shape it with you. Join the testnet launch on June 19th and start building on opBNB today!