BNB Chain Turns 1
We congratulate the BNB Chain community on the first anniversary of BNB Chain, especially for a productive year that saw Binance DEX rise as the top decentralized cryptocurrency marketplace in terms of volume. Here are some numbers showing how much BNB Chain and Binance DEX have accomplished during the past 12 months:
80,000,000 block height
77,000,000 transactions executed
480,000 addresses
110 tokens listed on Binance DEX
135 trading pairs (BNB, BTCB, Stablecoin, and alternative trading markets)
800,000,000 USD in trading volume
How BNB Chain Evolved and Gained Support
During the past year, BNB Chain released four major updates, each contributing to a richer experience in using the blockchain. Here’s a summary of what’s done for each update:
Galileo (July 2019): Market maker and taker concepts were launched for a richer trading experience on Binance DEX. The update also allowed users to delist trading pairs and time lock token assets.
Hubble (August 2019): For this update, the community stabilized syncing processes. Another security enhancement was launched, allowing exchanges to reject deposit transactions with no valid memo.
Archimedes (October 2019): The community introduced atomic swaps between blockchains that support smart contracts and BNB Chain.
Heisenberg (November 2019): The community improved the blockchain’s performance and eased constraints on listing transactions.
In addition, BNB Chain further strengthened its commitment to open-source development with the open-source implementation of a Threshold Signature Scheme (TSS) library for Elliptic Curve Digital Signature Algorithm (ECDSA) and EdDSA.
On the more business-related side of operations, the BNB Chain community was able to secure support from Binance in terms of backing some community-related endeavors. To entice projects to become more active on Binance DEX, Binance launched the BEP2 Community Listing Program, through which the most valid and active projects on BNB Chain get a chance to list on Binance.com. Binance also sponsored a bug bounty challenge, in collaboration with Bugcrowd, to incentivize developers to squash bugs on the BNB Chain code.
Another major move that boosted opportunities for Binance DEX is the introduction of BEP2 tokens that are backed by and pegged to major cryptocurrencies that have their own blockchains, including Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, and Tron.
How Big is the BNB Chain Community, By the Numbers
5,000+ community members across all channels
2,000+ commits on Github and beyond
150+ fullnodes
100+ technical contributors
63 BEPs
29 wallets that support BNB Chain
7 SDKs
The Year Ahead: Smart Contracts and Mini-BEP2 Tokens
Just a day ahead of the anniversary of BNB Chain, the community delivered a major announcement: BNB Smart Chain. The next step in the evolution of BNB Chain involves adding EVM-compatible programmability and native cross-chain communication to the Binance-branded blockchain. This upcoming update also introduces the Proof of Staked Authority (PoSA) consensus. Read more about this major development on the official whitepaper.
BNB Chain is also proposing the development of mini-BEP2 tokens to support small, promising projects such as micro-projects, intellectual properties, and other small-token economies. With this, they can gain access to the advantages of BNB Chain and Binance DEX without the intensive capital required for listing.
There are other developments that will come for BNB Chain, and we are excited to see what the community will come up with for Year 2.
To fund out more about the highlights from BNB Chain’s first year, read this post on the BNB Chain forum.