As part of a new technical roadmap for layer-2 network opBNB, BNB Chain engineers intend to lower network fees by 90% and more than double the transaction speed. According to the plan, the increase will reduce processing costs to $0.0005 within six months and boost processing to 10,000 transactions per second (TPS) from approximately 4,000. The first price reduction is set for December 4 and will drop from $0.005 to $0.001. The network is built upon the OP Stack of Optimism.
At the intended speed, opBNB would rank among the fastest layer-2 networks; its well-known spinoff, Arbitrum, is said to be able to process 40,000 TPS. Since its launch in September, opBNB has seen a steady increase in user numbers. Last week’s record-breaking 5.4 million transactions brought the total lifetime transactions to above 20 million. According to the developers, opBNB’s gas limit per block is anticipated to double to 200 million per second. The highest amount a user is willing to spend while sending a transaction is known as the gas limit. Increased limitations can facilitate transaction processing quickly when demand is strong.
It is anticipated that the improvements, which are slated for the upcoming year, would aid in opBNB’s support of high-frequency decentralised finance (DeFi) apps and on-chain gaming.