BNB Chain has a new technical roadmap and it claims to handle double the daily transactions of Ethereum
Binanceunveiled a new technical roadmap for the BNB Chainon May 31, at the BNBChain Revelation Summit.
- Binance says that the BNB chain has over two million daily active users.
- The BNB Chain was formed in February by merging the
Binance Smart Chainand the Binance Chain.
Binance, which runs one of the largest crypto exchanges in the world, has announced a new technical roadmap for its blockchain network — the BNB Chain. The roadmap, which was announced on May 31 at the BNB Chain Revelation Summit, is meant to enhance the decentralised structure of the BNB Chain, add more decentralised apps (DApps) and possible side chains. Which in turn will improve the infrastructural capabilities of the chain.
The BNB Chain was announced in February this year, and formed from a merger between the Binance Chain and the Binance Smart Chain (BSC). It is supposed to be an infrastructural layer to support web3 apps.
“We want to bring more developers to web3. Our goal is to support the dialogue with regulators and bring more attention to this space,” said
Can't attend the #BNBChain Revelation Summit live stream? Don't despair! In this thread, we'll provide you with… https://t.co/TKEiitXKhT— BNB Chain (@BNBCHAIN) 1653991562000
“Blockchain can do many things. The first applications focus on DeFi, but I think BNB Chain is much bigger than Binance.com. The community decides its future. I think in the future everybody will interact with blockchain without even knowing, whether it’s money, banking, etc.”
The company claimed that the BNB Chain has over two million daily active users, and handles twice the transactions that Ethereum does at the moment. The BNB Chain is already based on the proof-of-stake (PoS) system, which makes this metric more important, as it could lead to more environmentally sound solutions before Ethereum makes the move to the new consensus mechanism completely.
The PoS and proof-of-work (PoW) systems are consensus mechanisms used by blockchain networks to validate transactions and changes to the network. The PoW system requires more computing power, and hence consumes more energy. PoS, on the other hand, limits the computing power going into each transaction, and hence is more environmentally sound.
According to Ferruccio, the roadmap will emphasise innovation, sustainability, strengthening the governance mechanism of the BNB Chain and investing in security.
- The 10-year Treasury yield will drop to 3.5% by the end of next year as the massive bond rally will continue, UBS says
- Instagram's crisis highlights the bigger issues the entire ad industry is facing
- Exit polls predict BJP advantage in MP, Rajasthan, Congress win in Chhattisgarh, Telangana and tight contest in Mizoram
- International air travel penetration remains low in India: CAPA
- "Meeting friends is always a delight": PM Modi reacts to 'Melodi' selfie shared by Italian counterpart Georgia Meloni
- WhatsApp testing new feature that lets you search users by their username
- Delhi airport: Flights diverted due to bad smog, bad weather
- Meta expanding child safety measures as scrutiny mounts