The developer team behind the layer-1 blockchain network BNB Chain has outlined several goals to be achieved this year. Among them is an increase in its validators by 60.
Validators are entities responsible for verifying and adding new blocks to the blockchain. Validators operate within a blockchain that uses the proof-of-stake (PoS) consensus mechanism. Validators also help bolster the network’s security. Ideally, the larger the validators, the more decentralized the blockchain becomes.
BNB Chain to Increase Validators
Presently, the BNB Chain has 40 active validators out of 57 registered validators. By adding 60 validators this year, BNB Chain projects its validator count will soar to 100. This move will potentially make the network more decentralized and secure.
While the current move will be a big step for the BNB Chain community, its projection of a 100-validator count is minimal in comparison to most competing layer-1 blockchain networks. For example, Solana has over 3,400 validators in its ecosystem, making it more decentralized than the BNB Chain.
Other goals the BNB Chain developer team has planned for this year include merging the BNB Beacon Chain into the BNB Smart Chain, a process the team calls the “BNB Chain Fusion.” The team believes that the move will improve the network security and efficiency.
The team also discussed the vision for the Optimism-based layer-2 network, opBNB. By decreasing the gas limit and fees, the crew projects that the opBNB network will process 10,000 transactions per second.
The developers are also evolving opBNB into opBNB Connect, a protocol to support large-scale integration with decentralized applications and on-chain gaming. Other developers will also be able to deploy their L2 subnets within the ecosystem.
BNB Trades at $305
Binance coin (BNB), the native coin for the BNB Chain, is currently traded at $305, representing a 3.8% increase in the past seven days.
Source: CoinStats
The price performance comes despite legal challenges experienced by Binance, the crypto exchange behind BNB Chain and its native cryptocurrency, BNB. Last year, Binance founder Changpeng Zhao (CZ) stepped down from his role as CEO as part of a settlement with U.S. authorities.
