BNB Chain Celebrates 4 Years, Aiming to Onboard the Next Billion Web3 Users

BNB
Chain,
a
leading
blockchain
ecosystem,
recently
celebrated
its
fourth
anniversary
on
September
1,
2024.
The
event,
known
as
“BNB
Day,”
highlighted
the
platform’s
commitment
to
supporting
startups
and
developers
while
aiming
to
onboard
the
next
billion
Web3
users
through
a
cost-effective,
scalable,
and
secure
infrastructure.

One
BNB
Strategy

One
of
the
significant
initiatives
announced
was
the
“One
BNB”
strategy,
a
unified
multichain
ecosystem
integrating
BNB
Smart
Chain
(BSC),
opBNB,
and
Greenfield.
This
strategy
aims
to
drive
fully
on-chain
decentralized
applications
(Dapps)
across
various
sectors,
including
AI,
gaming,
and
DeFi.

Developer
and
Startup
Support

BNB
Chain
has
expanded
its
support
for
developers
and
startups
through
initiatives
like
the
MVB
Program,
BNB
Incubation
Alliance
(BIA),
grants,
and
Launch-as-a-Service
(LaaS)
packages.
Between
Q3
2023
and
Q2
2024,
BNB
Chain
allocated
$7
million
to
nurture
its
ecosystem.
Notably,
MVB
Season
7
attracted
over
700
applications,
with
13
standout
teams
receiving
significant
support
and
investment
from
Binance
Labs.

Community
and
Ecosystem
Growth

The
BNB
Chain
ecosystem
has
seen
substantial
growth,
now
boasting
nearly
800
live
Dapps
and
reaching
1.2
million
daily
active
users
(DAUs)
on
BSC
and
2.7
million
DAUs
on
opBNB.
This
growth
is
reflected
in
the
total
value
locked
(TVL)
on
BSC,
which
increased
by
40.4%
to
$4.82
billion.

Performance
and
Scalability
Enhancements

BNB
Chain
achieved
significant
performance
milestones,
including
10,000
transactions
per
second
(TPS)
on
opBNB
and
the
introduction
of
Blob-carrying
transactions.
These
advancements
aim
to
improve
user
experience
and
reduce
costs.
Additionally,
BNB
Chain
has
strengthened
its
security
measures,
resulting
in
an
87%
reduction
in
total
loss
year
on
year.

Bringing
Web3
to
the
Next
Billion
Users

The
One
BNB
strategy
focuses
on
integrating
BNB
Smart
Chain,
opBNB,
and
Greenfield
into
a
cohesive
ecosystem,
facilitating
the
transition
of
applications
to
fully
on-chain
frameworks.
This
approach
addresses
the
scalability
needs
of
large-scale
Dapps,
ensuring
smooth
interaction
between
decentralized
computing
and
storage
solutions.

Continued
Support
and
Incentives

BNB
Chain
continues
to
implement
targeted
actions
to
support
early-stage
projects
through
the
MVB
Program,
hackathons,
and
the
BNB
Incubation
Alliance.
In
2024,
the
BIA
Program
evaluated
38
project
pitches,
awarding
five
promising
projects.
Additionally,
BNB
Chain’s
grants
and
Kickstart
Program
provide
crucial
funding
and
services
for
projects
in
their
deployment
phases.

Impact
Across
Sectors

In
2024,
BNB
Chain
allocated
over
$7
million
across
several
key
initiatives,
including
global
online
hackathons,
TVL
and
DAU
incentive
programs,
and
the
Gas
Grant
Program.
These
initiatives
have
significantly
contributed
to
the
growth
and
innovation
within
the
BNB
Chain
ecosystem.

Achievements
in
2024

BNB
Chain
has
seen
remarkable
achievements,
including
an
8.5%
increase
in
daily
active
users
on
BSC
and
a
substantial
growth
in
transaction
metrics.
The
average
gas
price
on
BSC
decreased
by
42%,
while
opBNB
maintained
a
low
average
gas
price,
enhancing
cost
efficiency
for
users.

Expanding
Capabilities

BNB
Chain
has
made
significant
advancements
in
governance
and
consensus
mechanisms
through
BC
Fusion,
which
unified
the
governance
of
BNB
Beacon
Chain
and
BSC.
Additionally,
the
implementation
of
Proposer-Builder
Separation
(PBS)
has
established
a
transparent
and
fair
MEV
market
on
BNB
Chain.

Focused
on
User
Experience
and
Ecosystem
Growth

BNB
Chain’s
efforts
to
enhance
performance
and
user
experience
reflect
its
dedication
to
providing
a
seamless,
secure,
and
efficient
infrastructure.
Emerging
projects
in
SocialFi,
DeFi,
Web3
gaming,
and
more
continue
to
contribute
to
the
vibrant
ecosystem.

Looking
Ahead

As
BNB
Chain
looks
to
the
future,
it
remains
committed
to
supporting
developers
and
users
in
building
the
next
generation
of
decentralized
applications.
Upcoming
initiatives
include
completing
the
BNB
Chain
Fusion
process,
introducing
new
Rust-based
node
clients,
and
enhancing
real-world
use
cases
with
high
throughput
and
low
latency.

For
more
details,
visit
the

BNB
Chain
Blog.

Image
source:
Shutterstock