• Binance-founded layer-1 blockchain BNB Chain announced on Monday that it had launched a new layer-2 chain.
• The L2 is called opBNB, and it is a layer-2 scaling solution powered by the Optimism OP Stack.
• opBNB is set to add security and scalability to the Binance blockchain network.

Introduction

Binance-founded layer-1 blockchain BNB Chain announced on Monday that it had launched a new layer-2 chain. The L2 is called opBNB, and it is a layer-2 scaling solution powered by the Optimism OP Stack.

What is OpBNB?

opBNB is an Ethereum Virtual Machine (EVM) compatible layer-2 chain. This implies that the L2 chain works with Ethereum-based smart contracts, networks and ERC-20 token standards. It will enable the optimisation of data accessibility, the caching layer, and adjust the submission process algorithm to allow simultaneous operations. These functions would allow the chain to increase the gas limit to 100 million per block from the 30 million Optimism currently allows.

Benefits of OpBNB

OpBNB hopes to address scalability challenges affecting BNB Chain by supporting more than 4,000 transactions per second, with an average transaction cost below $0.005 compared to 2,000 transactions per second with an average transaction cost of $ 0.10 currently offered by BNB Chain. In addition to this, OpBNB also provides better security for users as well as optimising data accessibility and caching layers for better performance on its network.

Conclusion

By introducing OpBNB as its Layer 2 scaling solution powered by Optimism OP Stack, BNB Chain aims to solve scalability issues while providing higher levels of security for users on its network. With these improvements in place, it could help accelerate mass adoption of blockchain technology in general across different industries and sectors around the world.

FAQs

Q: What is opBNB?
A: opBNB is an Ethereum Virtual Machine (EVM) compatible layer-2 chain which works with Ethereum based smart contracts networks and ERC20 token standards.
Q: What are some benefits of using opPNB?
A: By using opPNB users can expect improved scalability with over 4000 transactions per second at a lower cost than before as well as improved security features such as data accessibility optimization and caching layers for better performance on its network.

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