The community-driven blockchain ecosystem, BNB Chain, has shared that its plans for the year 2024 involve optimizing performance, introducing opBNB Connect for scalability, and targeting specific decentralized applications (DApps) for mass adoption, like decentralized finance (DeFi), gaming, artificial intelligence (AI), and increasing active validators.

The community plans to evolve its Optimism OP Stack-based layer 2 (L2) scaling solution, opBNB, to “opBNB Connect” to support DApps with the potential for high daily active users in building their L2 blockchains. opBNB gas fees will decrease by up to 10x to <$0.0001, and gas limits will double from 100 million to 200 million at 10,000 transactions per second (TPS).

BNB Chain is set to unveil the “One BNB” interconnectivity concept, which seamlessly links BNB Smart Chain (BSC), a highly used L1 blockchain, opBNB, and Greenfield. This concept addresses the demand for a unified tech stack, aiding the shift of applications to fully on-chain Web3 frameworks.

BNB Chain 2024 outlook. Source: BNB Chain

Speaking with Cointelegraph, BNB Chain core development team explained that in 2024, Greenfield will upgrade by introducing Greenfield Executable to enhance data processing efficiency and reduce costs. The ecosystem will also enhance middleware infrastructure, including the bundle service and data availability (DA) layer, to meet data processing demands more effectively.

BNB Chain will launch BNB Greenfield 2.0, improving storage performance (SP) by 5x, introducing new features for developers, and establishing specialized data infrastructure for AI, on-chain gaming, and decentralized social platforms (DeSoc).

To achieve mass blockchain adoption, the outlook notes that BNB Chain will target specific applications, including high-frequency DeFi, fully on-chain games, artificial intelligence (AI), DeSoc), and high-performance infrastructure, including account abstraction (AA). 

The BNB Chain core development team explained that these applications have been identified as being catalysts for the mass adoption of blockchain technology. The outlook also highlights plans to increase active validators from 40 to 100 and merge Beacon Chain (BC) to enhance blockchain efficiency and speed up decentralization.

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In 2023, the BSC gas limit increased to 140 million, making it the largest among EVM-compatible networks. BSC hit an all-time high with 32M transactions/day and 2K TPS. OpBNB became the most active L2 in 2023, reaching an ATH of 71M transactions/day, 4.5K TPS, and gas fees of $0.001.

Looking ahead to 2024, the focus will shift to optimizing state and storage, introducing the optimized Path-Based-Storage-Scheme (PBSS). Parallel EVM 3.0 will be gradually implemented across full nodes and validators.

Binance Coin (BNB), the native token of BNB Chain, began a recovery on Jan. 26, rising by 3% to reclaim the $300 level. Although BNB remains weak, the ongoing recovery is backed by increasing network activity.

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