What is opBNB? opBNB is a scaling solution built on OP Stack technology on BNB Smart Chain. So how important is opBNB playing for BNB Chain in particular and the entire Superchain ecosystem in particular? Let’s find out together in the article below.
To better understand opBNB, people can refer to some of the articles below:
- What is Superchain? Overview of Optimism’s OP Stack, OP-Chain & Superchain
What is opBNB?
Overview of opBNB
opBNB is a Layer 2 built on OP Stack, Optimism’s latest technology that helps developers easily build a Layer 2 with many custom features such as proof of transactions, Data Availability or Execution, High compatibility with EVM helps increase scalability for BNB Chain while still inheriting security from the original chain.
opBNB will be an Optimistic Rollup that minimizes transaction fees by taking transactions to be processed off-chain and then posted back on Layer 1 as call data and accompanied by Fraud Proof. Some of the outstanding features of opBNB are:
- Accessing data becomes simpler, improving the network for BNB Chain and adjusting algorithms to synchronize the process from execution – consensus – data storage.
- opBNB can increase the gas limit up to 100M instead of only about 30M of Optimism.
- opBNB can reach a TPS of around 4,000 with transaction fees under $0.005.
Some advantages of opBNB
As a Layer 2 platform built on BNB Chain, opBNB will bring a number of benefits to developers and projects as follows:
- High scalability with 4,000 TPS and transaction fees lower than $0.005 make opBNB extremely fast and cheap so that any user can feel comfortable using the protocols and Dapps on opBNB. Developers will limit costs when building on opBNB.
- EVM compatibility allows developers on Ethereum and even on BNB Chain to easily scale their projects to opBNB.
- The use of Fraud Proof on opBNB – a proof that has proven security on Arbitrum or Optimism. Projects built on opBNB also inherit the security from this technology.
- There is strong support from the BNB Chain ecosystem – one of the ecosystems with the largest TVL in the market with many proven projects such as Pancakeswap, Venus,…
Some disadvantages of opBNB
Besides the outstanding advantages it brings, opBNB still has some advantages as follows:
- With such a cheap fee, the network can easily be spammed by users, leading to suspended transactions. This happened a lot on the Polygon network or BNB Chain. That’s why Vitalik Buterin said that transaction fees on Layer 2 should be around $0.05 instead of approaching $0.
- opBNB is built on BNB Chain and BNB Chain cannot be considered a decentralized Blockchain when the number of Validators does not exceed 50, so opBNB will not be considered a decentralized Layer 2. There are not many risks when Validator on BNB Chain or Sequencer on opBNB.
Development roadmap of opBNB
opBNB launched the official testnet on June 19, 2023, but there is still no roadmap for mainnet launch in the near future.
The Future of opBNB
Clearly, BNB Chain has its own plans for the next growth cycle. It’s possible that BNB Chain believes that in the next growth cycle, there may be billions of people participating in Web3 in general and DeFi in particular, so at this time they are ready to prepare the infrastructure to welcome the wave of people. use in the future.
In the next cycle, it may not be BNB Chain but opBNB that will play the leading role in the entire BNB Chain ecosystem.
Summary
opBNB is a Layer 2 platform built on BNB Chain with lots of future growth potential. Hopefully through this article everyone can understand what opBNB is?
