Original - Odaily

Author - Loopy

In September of this year, CZ said in an AMA event that he predicted that DeFi trading volume may soon exceed CeFi trading volume. CZ said: “DeFi is the future (of the crypto industry)… The next bull market is likely to make DeFi larger than CeFi.”

In the development of DeFi, BNB Chain is a huge ecosystem that we cannot ignore. On October 17, the BNB Greenfield mainnet was officially launched. During the testing phase, more than 200,000 transactions were completed, and the number of interactive wallets reached 150,000.

BNB Greenfield’s features include high performance, built-in access control, cross-chain programmability, and more. With the launch of the storage chain, BNB Chain has become a huge ecosystem with multiple chains integrating computing, storage, and L2.

From EVM to multi-chain, how does BNB Chain evolve?

How many public chains does the crypto world currently have? This is probably a question that no one can explain clearly.

Let’s take the data platform DeFiLlama as an example. There are already 219 chains included in DeFiLlama alone. In the crypto world, there are still a large number of small chains, new chains, and chains that have not yet been included.

Intricate and complex chains together constitute the Web3 world. Among these chains, BNB Chain is an extremely special and slightly alternative one.

In the memories of some old encryption users,BNB Smart Chain is the chain named after BNB that we are most familiar with., which is also an EVM high-performance chain that we came into contact with earlier. And currently,The development of BNB Chain is changing with each passing day.

BNB Chain is no longer the same as the old BSC when it was released. At present, BNB Chain has become a complete set of DeFi family buckets - this is not just a chain that fights alone,Including computing, storage, Layer, zk and other fields.

The current BNB Chain is aConsists of 5 chainsofPangbig family, this family bucket development strategy also allows BNB Chain to play a pivotal role in the DeFi world.

(The BNB Chain ecosystem built by multiple chains)

Currently, BNB Chain has shown us a more complete DeFi landscape - the prosperous BNB Smart Chain forms the cornerstone of this ecosystem. As a decentralized storage network, BNB Greenfield has also brought stronger gains to the development of the BNB Chain ecosystem: from an application point of view, the storage networkProvides solid technical support for the data and storage needs of the ecosystem；From the perspective of the economic model, it not only meets the demand for data,It also enables data to be monetized and traded, paving the way for a new data economy.

Provides solid support for data and storage needs. It not only satisfies the demand for data but also enables data to be monetized and traded, paving the way for a new data economy.

With the help of opBNB, which has lower transaction costs, and after inheriting Optimism’s Layer 2 technology, multiple BNB Chains will work together to create a diverse ecosystem.lower costThe opBNB enables the ecosystem to supportHigh-speed computing, high concurrencydemand and greaterComputing requirements, which also lays the foundation for Web3 to move toward large-scale adoption.

At present, the BNB Chain ecological family bucket built by multiple chains can not only meet the existing on-chain needs of the crypto world, but also provide a scalable decentralization for large-scale adoption of the application layer in the future. oriented innovation platform.

Over time, we can expect to see this ecosystem continue to flourish and grow, taking its place in the ever-increasing dominance of the DeFi world.

Inadvertently, the established public chain has already developed from a single chain BNB Smart Chain to a BNB smart chain integrating computing, storage and L2.Multi-chain interoperability ecosystem. This may have a profound impact on the future DeFi competitive landscape and the large-scale adoption of encryption systems.

Why does BNB Smart Chain need a Layer 2?

When we mention the powerful ecosystem of BNB Chain, BNB Smart Chain is naturally the first thing that everyone thinks of.

Among many public chains, BNB Smart Chain has reached a pivotal position. DeFiLlama data shows that BNB Smart Chain is currently the chain with the third highest TVL, and TVL has reached US$2.6 billion.

Judging from the market share of DEX trading volume, DeFiLlama data shows that the market share of BNB Smart Chain is currentlyThe second largest public chain by transaction volume, second only to Ethereum.

(The purple part is BNB Smart Chain, ranking second in market share)

As of the time of publication, BNB Smart Chain’s total DEX seven-day trading volume is approximately $500 million, which is much higher than other networks outside of the Ethereum mainnet.

With the prosperity of the ecology, the on-chain transactions of BNB Smart Chain have also become huge. This has also given rise to the need for Layer 2 of BNB Smart Chain.

The launch of opBNB just fills this empty ecological niche.

Optimism-based opBNB is an Ethereum Virtual Machine (EVM)-compatible layer 2 chain OP Stack designed to reduce gas costs while democratizing access to blockchain technology.

With the popularity of Ethereum Layer 2,The low gas advantages of various EVM “new public chains” are no longer obvious. The launch of opBNB has further significantly reduced the gas fee of the already low-cost BNB Smart Chain.

Official information shows,The chain’s TPS can reach over 4,000, while the average gas cost is only 0.5 cents.

After months of testing, on September 13, the opBNB network was finally officially launched. In addition to storage and computing, BNB Chain has ushered in a more novel field.

Currently, opBNB coincides with a full moon. In one month, what achievements has this new chain achieved? The on-chain browser shows that opBNB has currently conducted more than 10.33 million transactions and has more than 600,000 addresses. Over 6,400 BEP 20 tokens have been deployed. The number of daily active addresses once reached a peak of 99,000.

(The number of opBNB daily active addresses is constantly rising)

Starting on October 10th, opBNB will launch a two-month airdrop marathon event, which will end on December 9th. Participants can earn rewards by completing tasks. The event aims to activate the community and motivate users to use opBNB.

On September 28, BNB Smart Chain’s flagship product PancakeSwap also launched PancakeSwap v3 on opBNB. opBNB’s high TPS gives users the ability to enjoy higher throughput without sacrificing decentralization.

On October 17, MyShell, an AI blockchain platform based on the opBNB network, completed a $5.6 million seed round of financing. This round of financing was led by INCE Capital, with participation from Hashkey Capital, Folius Ventures, SevenX Ventures, OP Crypto, etc.Higher-performance Layer 2 networks also bring greater room for imagination to the application layer.

For example, MyShell stated that “the current AI field is facing pressing issues such as lack of transparency, centralization, and imbalanced incentive mechanisms.” The opBNB network can provide underlying support for this field. With opBNB, “users can truly own their own AI.” assets of the times and get the rewards they deserve.” Ultimately, MyShell will try to build a thriving ecosystem of creators on the blockchain.

In addition to BNB Smart Chains old products, BNB Chains official dappbay also includes some high-quality projects based on opBNB, including DeFi, infrastructure, wallets, games and other fields.

For a new chain that has just reached its full moon, opBNB’s wings are gradually becoming fuller, and its ecology is becoming increasingly prosperous. The scalability and EVM compatibility of opBNB have greatly optimized the experience of developers creating and running applications, and also simplified the migration and expansion of applications on the Ethereum chain to BSC. The enhanced functionality and guaranteed security enable opBNB to bring more opportunities and innovation to the entire BNB Chain ecosystem.

How do storage capabilities enhance Web3 adoption?

The opBNB mainnet has been launched, and gradually the ecology has become active, forming an ecological effect. And so will storage network Greenfield.

In the early days of the development of the encryption industry, decentralized storage has always been an important direction. However, in the development of storage chains, various reasons have been restricting the adoption of decentralized storage systems. Although there are many decentralized storage protocols, we have yet to see widespread popularity of Web3 storage systems.

Since the birth of distributed networks, decentralized storage has always been an idealistic storage management solution. Through the functions of distributed storage, consensus mechanism, and transaction verification, data security and non-tamperability are ensured, while meeting the characteristics of decentralized storage and decentralized management.

Unlike some “ancient” storage networks, Greenfield has EVM-compatible smart contract integration from day one. This is one of Greenfield’s greatest strengths.

Specifically, Greenfield has great applicationExpanded use cases for decentralized storage networks.In addition to the commonDecentralized hostingAnd other storage functions can also support more innovative applications. For exampleKnowledge economy platform, a knowledge payment platform that integrates content creation and access through smart contracts;AIGC Content IP Infrastructure, an infrastructure for open tracking and licensing of content;data management solutions,Provide secure storage for personal data, code and AI datasets through decentralized sharing and control;Content monetization ecosystem, promoting decentralized social networks, blogs, and more for content creators and projects.

EVM compatibility allows Web3 developers to build using the programming model and tools they are familiar with. Additionally, this also allows for better seamless integration with BNB Smart Chain, without the need to understand the underlying complex mechanisms.

For developers and users, BNB can be used directly in this ecosystem. Although Greenfield and BNB Smart Chain are two chains, their seamless integration has greatly lowered the threshold of use for both developers and users. . For Web3 systems, the optimization of this experience (including development experience and user experience) is crucial. The native integration of smart contracts and decentralized storage will open up more application scenarios and business models.

Currently, the BNB Greenfield mainnet is online. BNB Greenfield is designed to serve as the data and storage layer for the BNB Chain ecosystem, and the network will be integrated with smart contracts hosted on the BNB Chain at launch to support storage needs in gaming and social media.

(Overview of Greenfield’s main data)

Generally speaking, the computing chain itself does not usually provide enough storage capacity to cope with this demand. The storage chain provides decentralized and secure data storage solutions, while the computing chain focuses on supporting the execution of smart contracts and dApps. There is a close interdependence between these two areas such that their functionality would be limited if left alone.

Carving the cornerstone for mass adoption of Web3

The interoperability between Greenfield and BNB Chian can open up a wider space of imagination for us. Only when these two work together seamlessly can we build more powerful and feature-rich dApps, further laying the foundation for Web3 adoption.

What does this mean for the entire BNB Chain ecosystem?

The development of BNB Greenfield can further increase the visibility and usage of multiple chains across the BNB Chain, which will attract more projects and users to choose BNB Chain, thereby increasing the overall demand and value of BNB.

Based on the classic and long-standing cornerstone of BNB Smart Chain, supplemented by Layer 2, storage and other functions, this will create a vigorous new ecosystem, improve the diversity and interoperability of ecological applications, and make the entire ecosystem adoption rates can all develop collaboratively with each other.

Through seamless integration and multi-chain interoperability, BNB will also be widely used in the ecosystem. It is difficult to predict what applications mass adoption in the crypto world will be through. But what can be predicted is thatNo matter what form innovation takes,BNB Chain is potentialmass adoptionProvides a solid technical reserve and cornerstone.