BNB Chain Releases 2024 Outlook; Announces “One BNB” Paradigm
Dubai, UAE, January 31st, 2024, Chainwire
- The BNB Chain 2024 outlook introduces the “One BNB” concept, a multi-chain paradigm that interconnects BNB Smart Chain (BSC), opBNB, and Greenfield
- The outlook targets the onboarding of more high frequency DeFi, Artificial Intelligence (AI), DePIN, and fully on-chain games to achieve mass adoption
- opBNB will build ‘opBNB Connect’ to allow large scale dApps to establish their own L2 blockchains
BNB Chain, the community-driven blockchain ecosystem that includes the world’s largest smart contract blockchain, has published its 2024 outlook. In 2023, BNB Chain proved its performance, security, and scalability as BNB Smart Chain (BSC) became one of the most actively used Layer 1 (L1) blockchains and opBNB established itself as the most active L2 blockchain. This year, the ecosystem builds on this success with its introduction of the “One BNB” interconnectivity concept.
The “One BNB” multi-chain paradigm seamlessly connects BSC, opBNB, and Greenfield, presenting a unified solution that caters to both decentralized computing and storage needs. In addition, it addresses the need for a comprehensive, integrated tech stack to facilitate the transition of applications from less robust Web3 models to fully on-chain Web3 frameworks.
The outlook highlights BNB Chain’s continued commitment to leveling up the developer experience by enhancing performance, speed, security, and cost and focuses on:
- Optimization to maintain highest performing EVM status
- In 2023, the BSC block gas limit increased to 140M – the largest among all EVM-compatible networks. In addition to BSC being one of the most actively used L1 blockchains, with an all-time high (ATH) of 32M transactions/day and 2K Transactions Per Second (TPS), 2023 saw opBNB becoming the most active L2, with an ATH of 71M transactions/day, 4.5K TPS and gas fees of just $0.001.
- In 2024, the focus will shift to state and storage optimization and the introduction of optimized PBSS (Path-Based-Storage-Scheme). Parallel EVM 3.0 will also be progressively implemented across full nodes and validators.
- Building opBNB scalability through ‘opBNB Connect’
- BNB Chain’s L2 opBNB will evolve into opBNB Connect to support large-scale dApps that have the potential for high DAU. These include applications like DePIN, AI, gaming, and DeSoc that want to build L2s to create an ecosystem for their own developers and projects.
- opBNB gas fees will decrease by up to 10x to <$0.0001 and gas limits will double from 100M to 200M (10K TPS).
- Focus on specific dApps for mass adoption
- To achieve mass blockchain adoption, the outlook highlights that BNB Chain will target specific applications including high frequency DeFi, fully on-chain games, artificial intelligence (AI), DeSoc, DePIN, and high-performance infrastructure including account abstraction (AA).
In addition, BNB Chain will more than double active validators from 40 to 100 and implement the fusion of Beacon Chain (BC) to streamline the blockchain layers and accelerate decentralization. 2024 will see BNB Chain introduce BNB Greenfield 2.0 — which looks to increase SP performance by 5x — add new features to improve the developer experience, and build more application-specific data infrastructure for AI, on-chain gaming, DePIN, and DeSoc.
The BNB Chain Core Development Team said: “In 2024, we call on all developers to build on BNB Chain and contribute to a second consecutive year of incredible Web3 growth. As our ecosystem continues to expand, we are making it our mission to establish a unified and super powerful multi-chain paradigm and empower an ecosystem that is super-fast, cost-effective, scalable and user-friendly.”
Read the full 2024 BNB Chain Outlook here.
About BNB Chain
BNB Chain is a community-driven blockchain ecosystem that seeks to remove barriers to Web3 adoption. Powered by BNB, it includes the world’s largest L1 blockchain, the EVM-compatible BNB Smart Chain, and fosters a multi-chain ecosystem with BNB Greenfield and opBNB. Offering ultra-low gas fees and superior TPS, the BNB Chain ecosystem hosts thousands of dApps across DeFi, metaverse, gaming, SocialFi, NFTs and infrastructure, each of which add value to its ecosystem.
BNB Chain fosters impactful Web3 innovation with its BNB Chain Builder Support Program. This includes the Most Valuable Builder (MVB) accelerator program, run in partnership with Binance Labs and CMC Labs.
For more, follow BNB Chain on Twitter.
