BNB Chain braces DeFi, gaming, AI for 2024 mass adoption

Must read

The community-driven blockchain ecosystem, BNB Chain, has shared that its plans for 2024 involve optimizing performance, introducing “opBNB Connect” for scalability and targeting specific decentralized applications (DApps) for mass adoption, such as decentralized finance (DeFi), gaming, artificial intelligence (AI) and increasing active validators.

The community plans to evolve its Optimism OP Stack-based layer-2 scaling solution, opBNB, to opBNB Connect to support DApps with the potential for high daily active users in building their L2 blockchains. OpBNB gas fees will decrease by up to 10x to

BNB Chain is also set to unveil the “One BNB” interconnectivity concept, which seamlessly links the layer-1 BNB Smart Chain (BSC), opBNB and Greenfield. This concept addresses the demand for a unified tech stack, aiding the shift of applications to fully on-chain Web3 frameworks.

BNB Chain 2024 outlook. Source: BNB Chain

Speaking with Cointelegraph, a BNB Chain core development team representative explained that in 2024, Greenfield will be upgraded by introducing Greenfield Executable to enhance data processing efficiency and reduce costs. The ecosystem will also enhance middleware infrastructure, including the bundle service and data availability layer, to meet data processing demands effectively.

BNB Chain will launch BNB Greenfield 2.0, improving storage performance, introducing new features for developers, and establishing specialized data infrastructure for AI, on-chain gaming and decentralized social platforms (DeSoc).

To achieve mass blockchain adoption, BNB Chain will target specific applications, including high-frequency DeFi, fully on-chain games, AI, DeSoc and high-performance infrastructure, including account abstraction. 

The BNB Chain core development team representative explained that these applications have been identified as catalysts for the mass adoption of blockchain technology. The outlook also highlights plans to increase active validators from 40 to 100 and merge the Beacon Chain to enhance blockchain efficiency and speed up decentralization.

Related: Crypto lost in BNB Chain heists down by 85% in 2023: Report

In 2023, the BSC gas limit increased to 140 million, making it the largest among Ethereum Virtual Machine (EVM)-compatible networks. BSC also hit an all-time high with 32 million transactions per day and 2,000 TPS. OpBNB became the most active L2 in 2023, reaching an all-time high of 71 million transactions per day, 4,500 TPS and gas fees of $0.001.

Looking ahead to 2024, the focus will shift to optimizing state and storage by introducing the optimized path-based state scheme. Parallel EVM 3.0 will also be gradually implemented across full nodes and validators.

BNB (BNB), the native token of BNB Chain, began a recovery on Jan. 26, rising by 3% to hit the $300 level, with the ongoing recovery backed by increasing network activity.

Magazine: Fake news crypto panic, Binance gains users as market share falls? Asia Express

More articles

Latest article