BNB Chain Reveals 2024 Roadmap: Focuses on Scalability, DApps Adoption and Infrastructure Updates
Summary:
BNB Chain, a decentralized blockchain network, has released its 2024 roadmap. It includes enhancing operations, launching opBNB Connect for improved scalability, promoting specific decentralized apps (DApps) for mass adoption, and increasing active validators. Operational advancements, middleware infrastructure enhancements, and a projected launch of BNB Greenfield 2.0 are part of their plan. They aim to focus on applications driving blockchain technology's mass adoption. Amidst these developments, the native token, Binance Coin (BNB), has shown signs of recovery, backed by increasing network activities.
The decentralized blockchain network, BNB Chain, has unveiled its 2024 roadmap, focusing on enhancing operations, rolling out opBNB Connect for superior scalability, and promoting specific decentralized apps (DApps) including those in decentralized finance (DeFi), gaming, and artificial intelligence (AI) for widespread acceptance. It also envisions an increase in active validators.
The network plans to upgrade its opBNB, an Optimism OP Stack-dependent layer 2 (L2) scalability mechanism to "opBNB Connect," giving high-user DApps the capability to establish their L2 blockchains. With the introduction of opBNB Connect, opBNB’s gas fees will significantly lower up to 10 times and its gas capacity doubled, permitting 10,000 transactions a second.
The unique "One BNB" connectivity approach - integrating BNB Smart Chain (BSC), a well-utilized L1 blockchain, opBNB, and Greenfield - is to be unveiled by BNB Chain. The initiative aims to simplify the technological framework, encouraging applications to fully transition onto on-chain Web3 structures.
In a BNB Chain core team discussion with Cointelegraph, it was indicated that the year 2024 will see significant Greenfield advancements, providing Greenfield Executable for improved data processing and cost reductions. The network will further strengthen middleware frameworks, such as bundle services and data availability layers, to meet data processing requirements more efficiently.
BNB Greenfield 2.0 will be launched by BNB Chain, promising a fivefold enhancement in storage performance, offering developers new features, and setting up a dedicated data infrastructure for AI, on-chain gaming, and decentralized social platforms.
The 2024 projections indicate that BNB Chain plans to focus on specific applications including high-frequency DeFi, wholly on-chain gaming, AI, and high-efficiency infrastructure, to drive large-scale blockchain acceptance. These applications are tipped to be the primary drivers for the widespread engagement with blockchain technology.
The BNB core team aims to raise active validators from 40 to 100 and consolidate Beacon Chain (BC) to increase blockchain efficacy and hasten decentralization. In 2023, BSC took the lead amongst EVM-compatible networks, with an upward revision of the gas limit to 140 million. It also recorded 32M transactions/day and 2K TPS, setting new records. Meanwhile, opBNB emerged as the most frequently utilized L2, reaching a top record of 71M transactions/day, 4.5K TPS, and gas fees of $0.001.
BNB Chain’s 2024 initiatives will pivot towards state and storage optimization and the rollout of the optimized Path-Based-Storage-Scheme (PBSS). Parallel EVM 3.0 will be steadily integrated into full nodes and validators.
Despite recent weak performance, Binance Coin (BNB), BNB Chain's native token, started recovering on January 26, gaining 3% to cross the $300 mark, bolstered by escalating network activities.
Published At
1/31/2024 3:00:00 PM
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