BNB Chain Lays out its Future Plan Focusing on Decentralization and Interoperability

In February, Binance announced that it would merge BSC and BNB Beacon Chains (previously known under Binance Chain) to create the Build N’ Build Chain (BNB). This was in response to criticisms of its centralization of the Binance Smart Chain (BSC) and was described as being more decentralized and has higher scaling capabilities.

BNB Chain released Tuesday’s technical roadmap regarding cross-chain interoperability and decentralization. Governance and mechanism developments were also discussed.

Open Source Applications and Decentralization

According to the official Twitter thread the BNB Chain’s monthly users have reached 2,000,000, which is twice the amount of Ethereum. This post highlights the fact that the future developments will be focused on making layer-one blockchain decentralized and integrating open-source applications in its Beacon Chain. It also mentions the possibility of nearly doubling its number validators through the BEP131 proposal.

Are you unable to attend the #BNBChain Revelation Summit livestream? Don’t despair!

This thread will provide live coverage of the event for you to keep up with all the latest news

You can watch YT

https://t.co/RGrkB21pkI or Binance Live

https://t.co/YZvtuRp7R5

BNB Chain

(@BNBCHAIN May 31, 2022

The team believes that this will provide users with greater transparency and security.

BNB Chain is known for its ability to let users build their own platforms using BNB Application Sidechain, (BAS). BNB Chain will push ZkRollups on BAS towards the zkBAS system. The change could improve security and performance, and increase transaction throughput.

BAS- and zkBAS-specific options for building an “app dedicated infrastructure” will address data storage and computing power concerns.

Changpeng Zhao, Binance CEO, stated that the new features will make BNB Chain the future of blockchain. It will become a highly decentralized product controlled and managed by its community.

“Blockchain is capable of many things. Although the first applications are focused on DeFi, I believe BNB Chain is more important than Binnance.com. It is the community that decides its future. In the future, people will be able to interact with blockchain, without having to know if it’s money or banking.

BNB Chain remains dominant

Nansen’s Q1 report about top blockchain networks shows that despite a significant decline in on-chain activity in the early 2022, BNB Chain continues to be the industry leader and most active layer-one blockchain network.

It was also reported that the network’s change of branding from Binance Smart Chain to BNB network (BSC) indicates its intent to expand beyond Binance, its crypto exchange.

Read More

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Close Bitnami banner
Bitnami