Understand the newly launched Layer 2 network opBNB on BNB Chain in one article

Source: Odaily News

Tonight, BNB Chain announced the launch of the opBNB testnet, an Ethereum Virtual Machine (EVM) compatible L2 scalability solution based on the Optimism OP Stack. opBNB significantly enhances L1 scalability to reduce network congestion and fees while maintaining a similar level of security to L1.

The innovative underlying combination of opBNB, including optimized data accessibility, caching layers, and adjusted submission process algorithms to allow for more parallel operations, enables opBNB to achieve a gas limit of up to 100 M. Based on these comprehensive optimizations, opBNB can support over 4000 transaction transfers per second, with an average transfer transaction cost of less than $0.005.

Below is the introduction to the opBNB testnet from the official BNB Chain blog, compiled by Odaily Planet Daily.

We are excited to launch opBNB, an innovative scalability solution now available on the BNB Smart Chain (BSC). opBNB represents our commitment to ensuring users, developers, and projects have a seamless and efficient experience on BSC. This development is part of our ongoing mission to bring the power of blockchain to everyone while embracing and driving innovation.

The opBNB testnet will launch on June 19, 2023! We call on testnet validators and dApp builders to try the testnet and provide feedback.

What is opBNB?

opBNB is BSC's answer to the scalability challenges that limit the widespread adoption of blockchain technology. As a layer 2 network compatible with the Ethereum Virtual Machine (EVM), the opBNB solution is based on the Optimism OP Stack to further enhance BSC's scalability while maintaining affordability and security.

The introduction of Optimistic Rollups aims to reduce the computational load on the main chain by executing transactions off-chain and only publishing transaction data as call data on-chain. This approach greatly improves scalability by bundling multiple transactions together before submitting them to the main chain.

The powerful capabilities of BSC combined with the new features dedicated to opBNB, including easier data access, improved caching systems, and adjusted submission process algorithms to allow for simultaneous operations (also known as batching), enable opBNB to raise the gas limit to an astonishing 100 M, a significant leap compared to Optimism's 30 M. Thanks to these new features, opBNB can handle over 4000 transaction transfers per second while keeping the average transaction cost below $0.005.

Why is opBNB important?

By leveraging the power of Optimistic Rollups, opBNB moves computation and state storage off-chain, alleviating network congestion and lowering transaction costs. Transactions are executed off-chain, but their data can be published as call data on the mainnet. This revolutionary approach achieves a high-throughput environment with lower gas fees.

Additionally, opBNB employs a fraud-proof scheme to ensure the validity of transactions. Anyone can challenge the results of rollup transactions by computing a fraud proof; if successful, the transaction will be re-executed, maintaining the integrity of the network.

Benefits for Projects and Developers

With opBNB, developers gain access to a powerful and EVM-compatible platform that allows for the creation of an open ecosystem. The opBNB team has made significant contributions to the Optimism Stack to support the scalability of layer 2 solutions. Utilizing this stack simplifies the process for EVM developers to migrate their applications to BSC, helping them reach more users.

Projects can also leverage higher throughput and significantly reduced transaction costs to provide a better user experience. Furthermore, projects that previously struggled due to high transaction volume burdens on BSC can thrive with the increased scalability of opBNB. Here’s a brief summary of the advantages of opBNB:

Enhanced Scalability: As mentioned, opBNB can support over 4000 transaction transfers per second. All of this is made possible by the innovations of opBNB, which consist of data accessibility, optimization of caching layers, and adjustments to submission process algorithms to allow for simultaneous operations (also known as batching). This is a significant improvement compared to the current capacity of BSC, making it an ideal choice for applications with a large number of daily active users.

As a result, developers do not have to worry about their projects clogging the network, ensuring smooth and uninterrupted operation. Additionally, with the average transaction cost dropping below $0.005, it becomes more feasible for developers to create and run applications, especially those requiring high-frequency microtransactions. Lower transaction costs can also attract more users, potentially increasing the adoption and success rates of your applications.

EVM Compatibility: Being EVM compatible means that opBNB provides an accessible platform for developers familiar with Ethereum tools and dApps. This compatibility simplifies the migration or expansion of existing Ethereum applications to BSC, offering a broader audience and resources. Developers can leverage this advantage to fully utilize the Ethereum and BNB Smart Chain ecosystems.

Security and Trust: With the fraud-proof scheme, security remains a cornerstone of opBNB. This ensures that all off-chain transactions are valid, providing an extra layer of trust and confidence for developers and users alike. Moreover, the transparency and verifiability of transactions on opBNB encourage a healthier and safer application environment.

Future-Oriented Development: The blockchain space is evolving rapidly, and staying adaptable is key to sustained growth. With the powerful and flexible framework of opBNB, developers can easily adapt to changes, add new features, and experiment with innovative ideas. This makes opBNB not just a solution for today, but a strategic choice for the future.

Rich Ecosystem Integration: opBNB is not just a standalone layer 2 solution; it is part of a broader and vibrant BSC ecosystem. This integration provides developers and projects with opportunities to interact with various other projects and tokens, including BNB, USDT, and other future ERC 20 tokens supported by opBNB.

OpBNB has the potential to facilitate the growth of various applications, from gaming dApps to social networks, thanks to the efficient and cost-effective blockchain environment it provides.

Let’s Build Together

The launch of opBNB marks the beginning of a new chapter in our journey to create a scalable, accessible, and cost-effective blockchain ecosystem. However, this is just the beginning.

We invite developers and projects to experiment with opBNB. Whether you want to build a high-capacity decentralized application, a gaming platform, or a social network, opBNB provides an ideal environment for your creativity. Your contributions will not only benefit your project but also contribute to the broader BSC ecosystem and the future of blockchain technology.

Let’s harness the power of opBNB together to create an efficient, scalable, and sustainable blockchain ecosystem. The future is optimistic, and we are excited to shape it with you. Join the testnet launch on June 19 and start building on opBNB now!