What is Binance opBNB? What are the impacts on users?

Binance launches opBNB: BNB Smart Chain Layer2 expansion solution

Binance recently announced the launch of a new expansion solution for BNB Smart Chain (BSC) - opBNB Test Network. This article will explain the characteristics of opBNB and its potential impact on users.

Detailed explanation of opBNB

opBNB is a Layer 2 extension built on Optimism OP Stack, compatible with Ethereum Virtual Machine (EVM). It aims to improve the scalability of BSC, alleviate network congestion, and reduce transaction costs.

To better understand opBNB, we need to understand the following key concepts:

• Layer 2 (Blockchain Layer 2): Transfer some main chain functions to the second layer to improve main chain efficiency. It’s like adding memory to the computer and improving the running speed.
• Optimism Ecosystem: An ecosystem dedicated to expanding Ethereum with the Layer 2 solution.
• OP Stack (OP Chain): A modular stack developed by Optimism allows developers to build efficient Rollup chains.
• EVM compatible (Ethereum virtual machine compatible): Ensure opBNB can run the same smart contract as Ethereum, thus achieving cross-chain interoperability.

Simply put, opBNB is like an intelligent transportation system. When the BSC main chain is congested, it will divert some transactions to Layer 2 processing, thereby improving overall efficiency. At the same time, its EVM compatibility allows more developers and users to easily migrate to opBNB.

The impact of opBNB on users

The expansion and upgrading of opBNB will bring the following benefits:

1. Efficiency improvement: The block fuel limit of opBNB has been increased to 100M, which is 3 times that of BSC, significantly improving transaction processing speed.

2. Cost reduction: Higher efficiency directly reduces transaction costs. Binance official data shows that the cost of native opBNB transfer can be as low as $0.005.

3. EVM compatibility enables opBNB to seamlessly connect with the Ethereum ecosystem, reduce user migration costs, and attract more users and developers.

comparison of opBNB with other Layer 2 networks

Summary

opBNB is an important upgrade for BSC, which will significantly improve network performance and user experience. Although the underlying technology upgrade may not be obvious to ordinary users, it provides developers with more powerful tools and lays a solid foundation for the long-term development of the BSC ecosystem. In the future, we will continue to pay attention to the progress and application of opBNB.

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