Thoughts on opBNB? (Layer 2 on BNB Chain)

[Zed0X]

I found out recently that BNB Chain also launched their own Layer 2 which is what they call as opBNB. Basically, it's a scaling solution to the BNB Smart Chain and it also aims to provide users with lower transaction fees and faster confirmation. From my experience, it is indeed cheaper but confirmation is almost the same with BSC (L1). I think this is a good addition to the BNB ecosystem and will probably benefit projects with gaming niche the most.

[enwi]

I found out recently that BNB Chain also launched their own Layer 2 which is what they call as opBNB. Basically, it's a scaling solution to the BNB Smart Chain and it also aims to provide users with lower transaction fees and faster confirmation. From my experience, it is indeed cheaper but confirmation is almost the same with BSC (L1). I think this is a good addition to the BNB ecosystem and will probably benefit projects with gaming niche the most.

I think opBNB has been launched in October 2023, if you look at the launch period, opBNB has been operating for almost a year. Maybe you only found out about this information recently, but in reality this project has been running for almost a year, I hope that with this information we can be more active in finding out about newly created networks so that we can benefit from the new projects created.

[Zed0X]

I found out recently that BNB Chain also launched their own Layer 2 which is what they call as opBNB. Basically, it's a scaling solution to the BNB Smart Chain and it also aims to provide users with lower transaction fees and faster confirmation. From my experience, it is indeed cheaper but confirmation is almost the same with BSC (L1). I think this is a good addition to the BNB ecosystem and will probably benefit projects with gaming niche the most.

I think opBNB has been launched in October 2023, if you look at the launch period, opBNB has been operating for almost a year. Maybe you only found out about this information recently, but in reality this project has been running for almost a year, I hope that with this information we can be more active in finding out about newly created networks so that we can benefit from the new projects created.

I didn't say that the project was launched recently. I said I found out recently.

[yhiaali3]

Good thing but I don't know why the BNB chain needs to launch its second layer opBNB, I mean the Binance main network BSC has really low fees and the transactions on it are fast.

Anyway, it seems to be a good thing for the network. There seems to be a lot of developments on the Binance network, as I recently heard that they will close the old BEP2 network and give a six-month deadline for all token holders on this chain to securely transfer their assets to the BSC network.

[Zed0X]

Good thing but I don't know why the BNB chain needs to launch its second layer opBNB, I mean the Binance main network BSC has really low fees and the transactions on it are fast.

Fees on BSC is still relatively low but you'll feel it when you constantly move assets. From my experience, transferring NFTs from gaming became costly when I have to move them through the games marketplace. I had to spend at least $10 daily on transaction fees alone. With opBNB, a $1 seems a lot already.

[Wiseman]

I found out recently that BNB Chain also launched their own Layer 2 which is what they call as opBNB. Basically, it's a scaling solution to the BNB Smart Chain and it also aims to provide users with lower transaction fees and faster confirmation. From my experience, it is indeed cheaper but confirmation is almost the same with BSC (L1). I think this is a good addition to the BNB ecosystem and will probably benefit projects with gaming niche the most.

Yes, it’s absolutely true that payment for transactions is almost 100 times cheaper than on the main network in terms of speed. I wouldn’t say that it has become faster, it probably would have remained the same, and before it was pretty good, I personally was quite happy with it. But now with such a price per transaction, it’s just a fairy tale)

[yhiaali3]

. I had to spend at least $10 daily on transaction fees alone. With opBNB, a $1 seems a lot already.

Nice, this is very promising, of course we are with every reduction in fees. I have not tried transferring a lot of tokens daily, so I have never suffered from high fees on the Binance main network, but sometimes when trading you will have to spend fees on each order, approval, etc., and with the frequency of these operations, you will get high fees in the end.

Another thing is that after the BNB token rose to about $600, the fees increased as a result of the rise in the price of the token, so of course it is a good thing that there is a second tier option for those who want to get lower fees.

[MrSpasybo]

Fees on BSC is still relatively low but you'll feel it when you constantly move assets. From my experience, transferring NFTs from gaming became costly when I have to move them through the games marketplace. I had to spend at least $10 daily on transaction fees alone. With opBNB, a $1 seems a lot already.

opBNB is a Layer-2 solution for the BNB chain that aims to achieve 4K tps speeds. However, Layer-2 solutions on the BNB chain have not really attracted much attention from users and investors. Perhaps transaction fees on the BNB chain are already low enough to satisfy users, meaning that the impact of opBNB's reduced transaction fees is not as significant as that of Layer-2 solutions on Ethereum. I myself have never used opBNB, and I only accumulate BNB and ARB for my investment portfolio.

In addition, the opBNB ecosystem has not really developed yet as it has not received the inflow of money and attention from Dapps. I hope that during this bullrun, opBNB can become an environment for NFTs & GameFi, and then compete with Arbitrum and Optimism in the Layer-2 trend.

[Metha Wulandarin]

This is just my knowledge, if it's right, it's good, if it's wrong, please help.
OpBNB was born from two projects namely Optimism and BNB and the OpBNB project came out at the same time as the emergence of the zKbridge and Polyhedra projects at that time OpBNB was used to test zKbridge and Polyhedra which now has a ticker ZKJ (Polyhedra Network) and zKbridge is the first platform that can be used to bridge from OpBNB to other networks or vice versa.

[Bobcrypto]

I found out recently that BNB Chain also launched their own Layer 2 which is what they call as opBNB. Basically, it's a scaling solution to the BNB Smart Chain and it also aims to provide users with lower transaction fees and faster confirmation. From my experience, it is indeed cheaper but confirmation is almost the same with BSC (L1). I think this is a good addition to the BNB ecosystem and will probably benefit projects with gaming niche the most.

I think Binance team are doing great job, I far as I am concerned both layers will help investors and traders to maximize profit. whatever that is done on some of these blockchains to reduce gas fees, or scaling solutions, speed, plus other features, a great boost on investments and trading activities. This is a welcome development.

[Crwth]

I didn’t know that they have one and thank you for sharing this OP. I am in shock that they have to do it Because in the BSC Chain, I think it is quite cheap already. Are there even great projects now that builds on BNB? Because all I see now is from the BASE chain.

[MrSpasybo]

I didn’t know that they have one and thank you for sharing this OP. I am in shock that they have to do it Because in the BSC Chain, I think it is quite cheap already. Are there even great projects now that builds on BNB? Because all I see now is from the BASE chain.

I believe Binance has bigger plans and a longer-term vision for BNB chain in the future to support many new trends and meet the needs of both retail users and enterprises. RWA, NFT, GameFi trends may require a larger scale, and Binance doesn't want to miss this opportunity.

Currently, we don't have much positive feedback about users experience with opBNB, perhaps because BNB chain has been fast enough to meet user trading needs during the bear market. I hope we will have more positive information about this development of BNB chain when the value of this Layer-2 is demonstrated and utilized during the bullrun.

[Husires]

I believe Binance has bigger plans and a longer-term vision for BNB chain in the future to support many new trends and meet the needs of both retail users and enterprises. RWA, NFT, GameFi trends may require a larger scale, and Binance doesn't want to miss this opportunity.

This is the only thing I can think of because layer 2 solutions are usually because of high transaction fees and transaction fees are already low and the network is centralized so opBNB is something that might be in the future if they want to build games, NFT web3 or other uses of the network but it definitely won't be useful for tokens

[Crwth]

I didn’t know that they have one and thank you for sharing this OP. I am in shock that they have to do it Because in the BSC Chain, I think it is quite cheap already. Are there even great projects now that builds on BNB? Because all I see now is from the BASE chain.

I believe Binance has bigger plans and a longer-term vision for BNB chain in the future to support many new trends and meet the needs of both retail users and enterprises. RWA, NFT, GameFi trends may require a larger scale, and Binance doesn't want to miss this opportunity.

Currently, we don't have much positive feedback about users experience with opBNB, perhaps because BNB chain has been fast enough to meet user trading needs during the bear market. I hope we will have more positive information about this development of BNB chain when the value of this Layer-2 is demonstrated and utilized during the bullrun.

I think it is a great opportunity for us to know this early on and if there are notable projects maybe people can share their approach to it and maybe it could give an AirDrop or something. That is what I am thinking about when there is a new chain being developed.

[Metha Wulandarin]

I didn’t know that they have one and thank you for sharing this OP. I am in shock that they have to do it Because in the BSC Chain, I think it is quite cheap already. Are there even great projects now that builds on BNB? Because all I see now is from the BASE chain.

Now BNB is collaborating with Optimism ticker OpBNB, OpBNB is cheaper than BNB for transaction fees, if I'm not mistaken BASE is a project from CoinBase which is often used for transactions and the BASE network is widely used by project developers in farcaster/warpcast.