There has been continuously hot news revolving around Binance. Despite all the legal calamities, have been a best friend to the firm. The US Securities and Exchange Commission has pressed 13 charges against them. The firm has been working even after the legal notice was sent to them. Moreover, they have made a billion transactions within the last week on a domestic level.
They have introduced two new layers, two chains opBNB. The previously founded layer1 chain has produced the latter two recently. Hoping it will likely face Upcoming Challenges in a better way.
Binance Launched A Testnet
The first founded layer one blockchain has introduced new layer two chains. It’s a Binance-produced Testnet for further optimization. This new layer two scalings is based on the optimism OP stack.
It’s likely to provide more security and scalability to the Binance blockchain network. This new layer is likely compatible with Ethereum virtual machines. The advanced blockchain works with Ethereum-based smart contracts and networks. And also, we have ERC 20 token standards.
With Binance producing a new layer 2, blockchain makes the transaction easier. Usually, all the sites ask for further fees for keeping an account. Where this BNB blockchain has introduced cheaper transaction costs. A user could make 2000 transactions with $0.10 per second. Which is cheaper than other blockchains in the Crypto market.
Binance has further notified in a statement opBNB can let make 4000 transactions per second with $0.005. This is lower than the average cost.
A blockchain is ever-evolving; however, with every stage of advancement, the transaction becomes costly. Thus becoming challenging to keep the fees low, and Binance has proved it. Perhaps the only good thing is happening with finance now, apart from all the legal cases against it.