To address criticism of centralization on its Binance Smart Chain (BSC), in February Binance merged the BSC and BNB Beacon Chain (formerly known as Binance Chain) to form the Build N’ Build (BNB) chain. Announced the merger – which was branded as more decentralized and with higher scaling capabilities.
BNB Chain on Tuesday presented its technical roadmap regarding its developments in cross-chain interoperability, decentralization, governance and mechanisms, and more.
Decentralization and open source applications
according to official twitter thread, the number of monthly users on BNB Chain has reached 2 million, which is more than double that of Ethereum now. The post highlights that upcoming developments will focus on making the layer-one blockchain more decentralized, bringing open-source applications to its beacon chain, and nearly doubling the number of validators through the BEP-131 proposal.
cannot attend #bnbchain Revelation Summit Live Stream? Don’t despair! I
In this thread, we will provide you with the live coverage of the event so that you can get the most important news.
YT. look at
https://t.co/RGrkB21pkI
or binance live
https://t.co/YZvtuRp7R5— BNB Chain (@BNBCHAIN) 31 May 2022
In this way, the team believes that it will provide a high level of transparency and security to the users.
Known for users easily building their platform through the BNB Application Sidechain (BAS), BNB Chain will eventually push ZkRollups on BaS to transition to the ZKBAS system. It notes that the change could strike the balance between security and performance and increase transaction throughput.
BAS and ZKBAS-specific solutions will address computing power and data storage concerns by building “app-dedicated infrastructure”.
Binance CEO Changpeng Zhao said that the advanced features will position BNB Chain as the future of blockchain as it becomes a highly decentralized product controlled by its community:
“Blockchain can do many things. The first application is focused on DeFi, but I think the BNB chain is much bigger than Binnance.com. Society decides its future. I think the future will be people without even knowing what blockchain is. Will interact with you, whether it’s money, banking, etc.”
BNB chain remains dominant
According to blockchain data analytics platform Nansen’s Q1 Report on Major Blockchain Networks, BNB Chain maintained its position as the industry leader and the most active blockchain network among layer, despite a sharp drop in its on-chain activity in early 2022 has continued to hold. -A blockchain.
The report also noted that the network’s rebrand from Binance Smart Chain (BSC) to the BNB network indicates its intention to expand beyond its crypto exchange, Binance.
PrimeXBT Special Offer: Use this link to register and enter code POTATO50 to get up to $7,000 on your deposit.