The roadmap for opBNB paves the way for heightened performance for the layer-2 blockchain developed by BNB Chain.

OpBNB’s transaction count crossed the 20 million mark last week.

BNB Chain developers are looking to more than double the transaction speed and slash network fees by 90% as part of a new technical roadmap for layer-2 network opBNB, a representative shared with CoinDesk over email.

The increase will take processing to 10,000 transactions per second (TPS) from around 4,000 and cut the cost to $0.0005 within six months, according to the plan. The first fee cut, to $0.001 from $0.005, is scheduled for Dec. 4.

The network is based on Optimism’s OP Stack. The targeted speed would place opBNB among the fastest layer-2 networks, with popular offshoot Arbitrum capable of a claimed 40,000 TPS.

A layer 2 network is an off-chain system built on top of a base, or layer-1, blockchain. The OP Stack is the set of software that powers Optimism, an Ethereum layer-2 blockchain, that developers can use to create their own networks.

The number of users on opBNB has climbed steadily since its September release. Transactions reached a record 5.4 million last week, taking lifetime transactions to over 20 million. It has recorded a peak of 645 minting transactions per second.

The developers say they expect opBNB’s gas limit per block to double to 200 million per second. The gas limit is the maximum price a user is willing to pay when sending a transaction. Higher limits can help speed up transactional processing during times of high demand.

The upgrades are scheduled over the next year and are expected to help opBNB support on-chain games and high-frequency decentralized finance (DeFi) applications.

Read the full article here

Share.

Leave A Reply

Your road to financial

freedom starts here

With our platform as your starting point, you can confidently navigate the path to financial independence and embrace a brighter future.

Registered address:

First Floor, SVG Teachers Credit Union Uptown Building, Kingstown, St. Vincent and the Grenadines

CFDs are complex instruments and have a high risk of loss due to leverage and are not recommended for the general public. Before trading, consider your level of experience, relevant knowledge, and investment objectives and seek financial advice. Vittaverse does not accept clients from OFAC sanctioned jurisdictions. Also, read our legal documents and make sure you fully understand the risks involved before making any trading decision

Exit mobile version