2022 Roadmap Revealed by BNB Chain
Users and validators benefit from the leading network’s emphasis on speed and decentralization, which boosts overall efficiency and productivity.
More Decentralization and Speed
BNB Chain has published its “Technological Roadmap” for the rest of 2022. Through the Roadmap, the industry-leading blockchain platform revealed its plans to focus on providing users with more speed and decentralization while avoiding congestion.
The roadmap was announced at the Revelation Summit, a 5-hour virtual conference for blockchain and Web3 enthusiasts held on May 31. BNB Chain announced the roadmap on its blog shortly after the announcement. The roadmap includes several innovations to improve decentralization, promote faster transactions at low cost, and more that will be deployed on the mainnet throughout 2022.
BNB Chain will launch BEP-131, bringing “Candidate Validators” to the mainnet to provide users with more decentralization.
The blog explained how the innovation would provide more decentralization:
BNB Chain explained, “This proposal may increase the number of BSC Mainnet validators from 21 to 41, providing further decentralization and incentives for validators to constantly innovate their hardware and infrastructure.”
Users will benefit from improved network stability and security as the development team increases the number of validators. When any active validator encounters an instability problem, BNB Chain will have a larger pool of candidates from which to choose. In addition, when the BEP-131 mechanism is implemented, a validator will have an equal chance of earning rewards.
BEP-131 will benefit BNB Chain, validators, and end-users by providing the network with more decentralization and robustness.
Roadmap for BNB Chain Technology
- The BNB Chain Roadmap focuses on a seven-point strategy for improving its Decentralized Finance (DeFi) service:
- Faster transactions, lower costs, and more capacity are all advantages.
- Further Decentralization.
- Transparency and multi-chain integration will be improved.
- Transaction speed has improved.
- Sidechains for native tokens, flexibility, speed, and low transaction fees.
- Sidechains of the future: 10,000 Transactions Per Second (TPS).
- Non-DeFi Decentralized Applications benefit from lighter applications (dApps).
According to the blog, BNB Chain will increase its block gas capacity to provide users with faster transactions and the network’s capacity to provide a consistent dApp experience. End-users and BNB Chain validators benefitted from BNB Chain’s collaboration with NodeReal to increase the gas cap.
“BSC’s block gas capacity will be increased from Q1 to Q3 2022, until it reaches a cap of 200 million gas,” says the statement. The maximum amount of gas (tx fees) in a single block is referred to as the block gas capacity. The blog stated that “this increase in the gas cap will benefit both end-users and BSC validators.”
The roadmap demonstrates that the leading blockchain network is constantly seeking ways to improve its performance. BNB Chain wants to attract more investors and provide more features to increase its adoption even further after recently surpassing the $3 billion mark in total transactions. To learn more about the plans to improve the network’s overall stability and efficiency, visit the BNB Chain blog.
BNB Chain, one of the most popular blockchains in the world, dedicates to delivering its core infrastructure necessary for future public adoption, and always remains as a community-first and open-source ecosystem built on a permissionless and decentralized environment.
Binance Chain and Binance Smart Chain have formed together as BNB Chain since February 15, 2022. BNB Chain comprises BNB Beacon Chain (previously Binance Chain) and BNB Smart Chain (previously Binance Smart Chain). While BNB (formerly called “Binance Coin”) has also been renamed as “Build and Build.” The name change is not merely for welcoming the crypto world with more than 1 billion users but also to strengthen the delivery of the core infrastructure necessary for future public adoption and, most importantly, to build a better ecosystem for embracing the MetaFi.
To learn more about Binance Chain, visit their website
