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BNB Chain surpasses 1 million daily active users mark

source-logo  cryptobriefing.com 21 February 2024 19:39, UTC

BNB Chain reached 1.2 million users in 2023, according to the “BNB Chain & the Web3 Blueprint” report published on the BNB Chain blog this Wednesday. The report attributes this 7.900% growth in four years of existence to principles such as openness, multi-chain capability, and perpetual decentralization.

In 2023, BNB Chain experienced considerable advancements, notably during a period of increased activity and a turn for the better in the market cycle. Binance Smart Chain, the BNB ecosystem layer where smart contracts are deployed, and opBNB, BNB Chain’s Layer-2 solution, demonstrated their scalability by handling peak throughputs of 2,000 and 4,500 transactions per second, respectively.

BNB Chain surpasses 1 million daily active users mark

Another achievement highlighted by the report is BSC’s processing of 32 million transactions in a single day, while opBNB set a record with 71 million transactions. Additionally, the platform saw an 85% reduction in losses due to hacking and scams, as reported by AvengerDAO.

BNB Chain has expanded its infrastructure to include the opBNB Layer-2 solution and the Greenfield storage chain, forming a multi-chain framework that supports decentralized applications’ computational and storage needs. This “One BNB” strategy aims to facilitate seamless interactions within the decentralized ecosystem.

Several high-volume projects are leveraging this multi-chain approach, including Hooked on opBNB for transaction efficiency and 4EVERLAND on Greenfield for fully-on-chain applications. The integration of AI technologies is also underway, with projects like QnA3 pioneering new uses within the ecosystem.

Interoperability and scalability

The opBNB mainnet, introduced in September 2023, focuses on improving user experiences in decentralized finance (DeFi) and gaming by offering high throughput and low fees. Its ongoing development aims to achieve 10,000 transactions per second, positioning it as a leading Layer-2 solution.

Furthermore, BNB Chain has introduced opBNB Connect to support large-scale decentralized applications, offering decentralized sequencers, custom gas tokens, and permissionless bridges to enhance interconnectivity among Layer 2 solutions.

Greenfield, launched in October 2023, is designed to integrate decentralized storage with blockchain technology, facilitating data management and ownership within the DeFi space. It also serves as a platform for decentralized AI infrastructure and applications.

Looking ahead, BNB Chain remains dedicated to its multi-chain strategy, focusing on high-frequency DeFi, on-chain gaming, AI integration, and decentralized physical infrastructure networks to drive mass adoption and innovation in the Web3 space.