zkBNB can support 100 million addresses and handle up to 10,000 transactions per second, while offering the same security as BNB Chain.
ZkBNB in the L2 Ecosystem
The defining characteristic of the new Zero-Knowledge Rollup, zkBNB, is that it is a layer-two (L2) solution to scale BNB Chain, while most L2 solutions are designed to scale Ethereum.
According to Binance Research’s recent “Layer 2 Scaling Market Update,” there appears to be a preference for rollups (Optimistic and ZK) over other L2 scaling solutions such as Side Chains, State Channels, and Plasma.
Binance Research opined that ZK-Rollups are preferable because they are built to offer more in terms of security, performance, usability, “and other noteworthy aspects.”
According to the report, the zkBNB mainnet is targeted to launch early next year. The rollup can reduce gas fees by 90%, support 100 million addresses, and handle up to 10,000 transactions per second (TPS). BNB Chain, by comparison, can handle a maximum of 300 TPS.
On Ethereum, optimistic rollups Arbitrum and Optimism are the dominate L2s, accounting for more than 80% of market share, according to L2BEAT.
Meanwhile, two other L2s, Polygon’s zkEVM and zkSYNC 2.0 recently launched public testnet versions.
With all the developments going on in the L2 ecosystem, zkBNB finds itself surrounded by good company, and competition.
What Is BNB Chain:
Previously known as the Binance Smart Chain (BSC), BNB Chain is a community-driven, decentralized, and censorship-resistant blockchain that is powered by Binance. It consists of BNB Beacon Chain and BNB Smart Chain, EVM compatible and facilitating a multi-chain ecosystem. Through the concept of MetaFI, BNB Chain aims to build the infrastructure to power the world’s parallel virtual ecosystem.
Find more about BNB Chain here:
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.
BSC NEWS is a private news network. All posts posted by this user belong 100% to bsc.news All rights are reserved to BSC NEWS for more information about BSC NEWS contact BSC NEWS HERE.
