BNB Smart Chain launches its opBNB layer 2 testnet News ▸ Binance ▸ Technology
BNB Smart Chain launches its opBNB layer 2 testnet
BNB Smart Chain calls on developers to experiment with its opBNB technology.
2 min read
Updated: Jun. 19, 2023 at 5:25 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Binance has announced the release of the opBNB testnet on the BNB Smart Chain (BSC).
The layer 2 product is touted as the answer to the scalability aspect of the blockchain trilemma – the other two aspects being security and decentralization.
Ethereum co-founder Vitalik Buterin coined the term blockchain trilemma to describe a situation where developers are forced to forego one of the aspects in favor of the other two – as achieving all three aspects is impossible in the current state of technological development.
BSC is a fully compatible Ethereum Virtual Machine chain.
opBNB uses Optimistic Rollups
opBNB utilizes the Optimism OP Stack to achieve improved scalability, including Optimistic Rollups to process transactions off-chain – bundling them together to submit to the main chain.
The technology improves scalability and reduces the computational load on the main chain, making it easier to access data, improving the cache system, and enabling simultaneous operations.
According to BNB Chain, opBNB’s gas limit has been increased to 100M, allowing over 4,000 transactions per second and an average transaction cost below 0.005 USD.
Optimism OP Stack is an open-source collection of independent components, such as architectural layers or runtime environments, that work together to execute an app.
opBNB adopts a fraud-proving system to ensure transaction validity and network integrity. This mechanism allows anyone to challenge the results of a batched rollup transaction by computing a fraud-proof.
If proven fraudulent, the transaction(s) will be re-executed, maintaining the network’s integrity and instilling trust while fostering greater transparency.
BNB Chain calls on devs to experiment
BNB Chain said the opBNB testnet marks a new chapter in BSC’s journey to “creating a scalable, accessible, and cost-effective blockchain ecosystem.”
By inviting developers and projects to experiment with opBNB, BNB Chain hopes to foster the growth of diverse applications, including gaming apps and social networks, to pave the way for a more efficient and cost-effective blockchain environment.
The testnet launched on June 19, with developer resources now available.
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Posted In: Binance, Technology
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Samuel Wan
Samuel Wan, a finance professional turned full-time crypto content creator, values individual autonomy and personal freedom in his pursuits.
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BNB, or Binance Coin, is a cryptocurrency created by Binance.
Binance
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.