BNB Chain Lays out its Future Plan Focusing on Decentralization and Interoperability

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To address the crit­i­cism of cen­tral­iza­tion over its Binance Smart Chain (BSC), Binance in Feb­ru­ary announced the merge of BSC and BNB Bea­con Chain (pre­vi­ous­ly known as Binance Chain) to form the Build N’ Build (BNB) Chain – which was brand­ed as more decen­tral­ized and with high­er scal­ing capabilities.

BNB Chain put out its tech­ni­cal roadmap on Tues­day regard­ing its devel­op­ments in cross-chain inter­op­er­abil­i­ty, decen­tral­iza­tion, gov­er­nance and mech­a­nism, and more.

Decentralization and Open Source Applications

Accord­ing to the offi­cial Twit­ter thread, the num­ber of month­ly users on the BNB Chain has reached 2 mil­lion, twice as much as Ethereum has for now. The post high­lights that the upcom­ing devel­op­ments will focus on mak­ing the lay­er-one blockchain more decen­tral­ized, bring­ing open-source appli­ca­tions into its Bea­con Chain, and near­ly dou­bling up its num­ber of val­ida­tors via the BEP-131 proposal.

In this way, the team believes it will offer a high­er degree of trans­paren­cy and secu­ri­ty to the users.

Known for let­ting users eas­i­ly build their own plat­forms through BNB Appli­ca­tion Sidechain (BAS), BNB Chain will push the ZkRollups on BAS to final­ly tran­si­tion to the zkBAS sys­tem. It notes that the change could enhance the bal­ance between secu­ri­ty and per­for­mance and increase the trans­ac­tion throughput.

BAS and zkBAS-spe­cif­ic solu­tions for build­ing an “app-ded­i­cat­ed infra­struc­ture” will address com­put­ing pow­er and data stor­age concerns.

Binance CEO Chang­peng Zhao said the upgrad­ed fea­tures will posi­tion BNB Chain as the future of blockchain as it becomes a high­ly decen­tral­ized prod­uct con­trolled by its community:

“Blockchain can do many things. The first appli­ca­tions focus on DeFi, but I think BNB Chain is much big­ger than Binnance.com. The com­mu­ni­ty decides its future. I think in the future peo­ple will inter­act with blockchain with­out even know­ing, whether it’s mon­ey, bank­ing, etc.”

BNB Chain Remains Dominant

Accord­ing to blockchain data ana­lyt­ics plat­form Nansen’s Q1 report on lead­ing blockchain net­works, in spite of a mas­sive decline in its on-chain activ­i­ty in ear­ly 2022, BNB Chain has con­tin­ued to main­tain its posi­tion as the indus­try leader and the most active blockchain net­work among lay­er-one blockchains.

The report also not­ed that the network’s rebrand from Binance Smart Chain (BSC) to BNB net­work indi­cates an intent to expand beyond its cryp­to exchange, Binance.

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