BNB Chain Will Boost Mass Adoption of Blockchain

The BNB Chain team shared its near-term plans. The main focus is on a fast, cost-effective, scalable, developer-friendly, and secure multichain ecosystem that stimulates mass adoption of Web3 technologies.

The BNB Chain blog published a plan for 2024. The team intends to focus on technical conditions for developing high-frequency DeFi protocols, fully on-chain games, AI-based Web3 technologies, and projects in decentralized physical infrastructure networks (DePIN) and decentralized societies (DeSoc).

The team plans several tech improvements, namely:

• implementing opBNB Connect to improve scalability;
• developing Layer 2 scaling solutions based on Optimism OP Stack and opBNB Connect;
• increasing the number of active BNB Chain validators from 40 to 100;
• optimizing the performance of the core network via L2 solutions;
• improving the efficiency of data processing via Greenfield Executable;
• developing the One BNB interconnectivity paradigm that could match the BNB Chain network, opBNB-based L2 solution, and BNB Greenfield decentralized storage infrastructure.

According to the BNB Chain team, the Web3 industry will shift towards fully on-chain (FoC) dApps in 2024. It’ll require high computing power, efficient data processing infrastructure, and high-performance storage. The One BNB ecosystem will potentially provide all of this to devs. Large-scale Web3 projects will promote the mass adoption of blockchain technologies.

The BNB Chain team reported key achievements of the past year, including:

1. The BNB Smart Chain was one of the most actively used L1 blockchains. The all-time high of transactions was 32 million daily, with 2,000 transactions per second (TPS).
2. opBNB, launched last year, became the leader among Layer 2 solutions. The protocol reached an all-time high of 71 million daily transactions and a throughput of 4,500 TPS.
3. Compared to 2022, BNB Chain users experienced an 85% reduction in losses due to hacker attacks and fraud.

In early 2024, BNB Chain developers announced plans to abandon the dual-chain network structure, combining Beacon Chain and BNB Smart Chain into a single chain.

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