Binance goes live with layer-2 network opBNB

Crypto exchange Binance's scale solution will now compete with Coinbase's Layer-2 chain. Will a run opBNB (Optimism BNB) follow?

BNB announced in their blog that the opBNB mainnet is live. Binance's new internal blockchain is built on Optimism's technology. The company launched the Layer 2 network for developers in June. Now it is also open to the public.

Users can now send crypto through their own bridge to the network to communicate with various decentralized applications (Dapps). According to the blog post, the opBNB chain successfully processed 35 million transactions in the test network and counted 435,972 wallets. In addition, more than 150 applications were active. On the mainnet, opBNB will now be able to process 2,600 to 4,000 transactions per second, at tremendously low fees, according to the company.

Binance follows Coinbase

With opBNB, Binance is following in the footsteps of crypto exchange Coinbase, which launched its layer-2 network BASE in August. Within a few weeks, BASE reached a total locked-in value (TVL) of more than US$150 million and caused a real uptick in Layer-2.