BNB Chain unique wallets surpass Ethereum, becomes largest L1 blockchain

Despite crypto winter setting in, BNB Chain sets up big plans for 2023, as unique addresses surpass Ethereum as growth continues.

Cover art/illustration via CryptoSlate

Unique addresses on the BNB Chain crossed 230 million, surpassing Ethereum and becoming the “largest layer 1 blockchain in the world,” according to a company statement.

Meanwhile, the network also witnessed “record-breaking highs” in transactional volume — reaching 9.8 million transactions in May.

Growth despite crypto winter

BNB Chain reported that the blockchain has “made significant strides in onboarding the next billion users into Web3.”

Director of Growth & Ops at BNB Chain, Alvin Kan, said:

“Our community has made remarkable strides in the development of blockchain technology. We launched BNB Sidechain, zkBNB, Binance Oracle, security initiatives such as AvengerDAO, among others.”

Kan stated that these changes had “resulted in faster transactions, lower costs, and extra capacity.”

Deployment of BNB Sidechain and zkBNB Testnet had been considered a “game-changer for developers,” according to the company statement.

“The team at BNB Chain is committed to provided a secure and user-friendly platform for developers and users alike, marching towards our mission to onboard the next billion users to Web3.”

To support the growth of Web3 decentralized applications (Dapps), BNB Chain introduced multiple development support programs, including “the Builder Grant and the $10 Million Gas Fee Incentive.”

Planning ahead

In 2023, BNB Chain plans to launch the zkBNB mainnet, host hackathons and develop meet-ups, and work on an improved Web3 blockchain storage system to lower operational costs, according to the statement.

“We are dedicated to ensuring that 2023 is even bigger and better as we aim to make mass adoption a reality.”

Recent BNB Chain developments attest to this direction for 2023, which has announced its first Asia-based hackathon and the launch of its Liquidity Bootstrapping Pools in partnership with Fjord and Balancer.