Layer-1 blockchain network BNB Chain announced Monday the testnet launch for a layer-2 network dubbed opBNB. The new layer comes as a solution to the scalability issue faced by L1 networks.
What Are Layer-2 Networks?
A layer-2 network is a protocol built on an existing blockchain to improve the base blockchain’s scalability, performance, and other characteristics.
With increasing blockchain users and the introduction of new use cases like DeFi products and non-fungible tokens (NFTs), several blockchains are experiencing network congestion. Such lagging comes with a surge in transaction fees and consequently slows down the performance of protocols built on the underlying blockchain.
BNB Chain Unveils opBNB
On June 15th, BNB Chain posted a teaser video about an upcoming layer-2 protocol. The video mentioned that the new layer will roll out on June 19th.
Utilizing Optimism’s OP Stack, BNB Chain designed opBNB to improve its scalability. BNB Chain currently processes around 2,000 transactions per second (tps) with a trading fee of around $0.109.
However, opBNB promises to facilitate over 4,000 tps and significantly reduce transaction fees to less than $0.005 per transaction. Adding to its scalability, the L2 protocol will feature a gas limit of up to 100 million. A higher gas limit entails the magnitude of transactions that can be conducted within a block.
The opBNB layer will also harness the Ethereum Virtual Machine (EVM) to scale up its performance. With this feature, the network joins the bandwagon of projects adopting EVM technology.
BNB Chain called developers to come and build their projects on the testnet of the layer-2 network. These programmers can create decentralized applications “without worrying about the complexities of Layer-2 scaling.” By running the L2 protocol on a testnet, developers try out new tools within the network before they get deployed on a mainnet.
Notably, BNB Chain has made several moves to scale up its reliability and security. Last week, the network’s developer team launched the BEP-126 update that comes with the “Fast Finality” function. The feature bolstered BNB Chain’s reliability and minimized the risks of double-spending.
