The BNB Chain now hosts more than 1,300 applications and processes daily transactions totalling almost $3 billion.
Binance announced in February the merger of its Binance Smart Chain (BSC) and BNB Beacon Chain (formerly known as Binance Chain) to establish the Build N’ Build (BNB) Chain, marketed as being more decentralised and with more excellent scaling capabilities.
BNB Chain published its technological roadmap detailing its future advances in cross-chain interoperability, decentralisation, governance, and mechanism, among other areas.
According to the official Twitter thread, monthly BNB Chain users have surpassed 2 million, double the current number of Ethereum users. The article emphasises that future efforts would concentrate on decentralising the layer-one blockchain, integrating open-source apps into the Beacon Chain, and almost tripling the number of validators with the BEP-131 proposal.
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The team feels that this will increase the users’ level of transparency and security.
BNB Chain, well-known for enabling users to quickly create their platforms through BNB Application Sidechain (BAS), will urge the ZkRollups on BAS to shift to the zkBAS system. The modification might improve the equilibrium between security and performance and boost transaction throughput.
Concerns about computational power and data storage will be addressed by BAS and zkBAS-specific solutions for constructing an “app-dedicated infrastructure.”
Binance CEO Changpeng Zhao said that the upgraded features would position BNB Chain as the future of blockchain as it evolves into a highly decentralised, community-governed product.
“Blockchain can do many things. The first applications focus on DeFi, but I think BNB Chain is much bigger than Binnance.com. The community decides its future. I think in the future people will interact with blockchain without even knowing, whether it’s money, banking, etc.”
According to the blockchain data analytics platform Nansen’s Q1 report, BNB Chain has maintained its position as the market leader and the most active blockchain network among layer-one blockchains despite a significant fall in its on-chain activity in early 2022.
The rebranding from Binance Smart Chain (BSC) to the BNB network reflects its desire to grow beyond the Binance cryptocurrency exchange.