Source: Odaily News
Tonight, BNB Chain announced the launch of opBNB testnet, an Ethereum Virtual Machine (EVM)-compatible L2 scalability solution based on the Optimism OP Stack. opBNB greatly improves L1 scalability to reduce network congestion and network fees while maintaining a similar level of security as L1.
opBNB's innovative underlying combination, including optimizing data accessibility, caching layer, and adjusting the submission process algorithm to allow more parallel operations, enables opBNB to reach a Gas limit of up to 100 M. Based on these comprehensive optimizations, opBNB can support more than 4,000 transfer transactions per second, with an average transfer transaction cost of less than $0.005.
The following is the introduction of opBNB testnet from the BNB Chain official blog, compiled by Odaily Planet Daily.
We are excited to launch opBNB, an innovative scalability solution now available on BNB Smart Chain (BSC). opBNB represents our commitment to ensure a seamless and efficient experience for users, developers, and projects 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 are calling 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 mass 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.
Optimistic Rollups were proposed to reduce the computational load on the main chain by executing transactions off-chain and only publishing transaction data as call data on the chain. This approach greatly improves scalability by bundling multiple transactions together before submitting them to the main chain.
The combination of BSC’s powerful capabilities and opBNB-specific new features, including making data access easier, improving the cache system, and adjusting the submission process algorithm to allow simultaneous operations (also known as batching), enables OpBNB to increase the Gas limit to an astonishing 100 M, a big leap from Optimism’s 30 M. Thanks to these new features, OpBNB can process more than 4,000 transfer transactions per second and keep 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 reducing transaction costs. Transactions are executed off-chain, but their data can be published to the mainnet as call data. This revolutionary approach enables a high-throughput environment with low gas fees.
Additionally, opBNB employs a fraud proof scheme to ensure the validity of transactions. Anyone can question the outcome of a rollup transaction by calculating a fraud proof; if successful, the transaction will be re-executed, thus maintaining the integrity of the network.
Benefits for projects and developers
With opBNB, developers have 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 expansion of Layer 2 solutions. Leveraging this stack simplifies the process for EVM developers to move their applications to BSC, which can help them reach more users.
Projects can also take advantage of higher throughput and significantly reduced transaction costs to provide customers with a better user experience. In addition, projects that previously struggled with the high transaction volume burden on BSC can thrive with the increased scalability of opBNB. Here is a brief summary of opBNB's advantages:
Enhanced Scalability: As mentioned earlier, opBNB can support over 4,000 transfers per second. All of this is possible due to opbnb’s innovations, which consist of optimizations in data accessibility, the cache layer, and adjustments to the submission process algorithm to allow for simultaneous operations (also known as batching). This is a significant improvement over BSC’s current capacity, making it ideal for applications with a large number of daily active users.
As a result, developers don’t have to worry about their projects clogging the network, ensuring smooth and uninterrupted operations. Additionally, with average transfer transaction costs dropping to less than $0.005, it becomes more feasible for developers to create and run applications, especially those that require high-frequency microtransactions. Lower transaction costs can also attract more users, potentially increasing the adoption and success of your application.
EVM compatibility: Compatibility with EVM means 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, providing a wider audience and resources. Developers can take advantage of this to make the most of the Ethereum and BNB Smart Chain ecosystems.
Security and Trust: Security remains a cornerstone of opBNB thanks to a fraud proof scheme. This ensures that all off-chain transactions are valid, providing an extra layer of trust and confidence for developers and users alike. Additionally, the transparency and verifiability of transactions on opBNB encourages a healthier and more secure application environment.
Future-proof development: The blockchain space is evolving rapidly, and staying adaptable is key to continued growth. With opBNB’s powerful and flexible framework, developers can easily adapt to changes, add new features, and experiment with innovative ideas. This makes opBNB not just a solution for now, but a strategic choice for the future.
Rich Ecosystem Integration: opBNB is more than just a standalone layer 2 solution; it is part of the broader and vibrant BSC ecosystem. This integration provides developers and projects with the opportunity to interact with a variety of other projects and tokens, including BNB, USDT, and other future ERC 20 tokens supported by opBNB.
OpBNB has the potential to foster the growth of a wide range of 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-volume decentralized application, a gaming platform, or a social network, opBNB provides an ideal environment for your creativity. Your contribution will not only benefit your project, but also contribute to the broader BSC ecosystem and the future of blockchain technology.
Together, let’s harness the power of opBNB to create an efficient, scalable, and sustainable blockchain ecosystem. The future is optimistic, and we’re excited to shape it with you. Join the testnet launch on June 19th and start building on opBNB today!