In order to better understand this article, it is necessary to have a grasp of the basic concepts of Ethereum and its transaction processes. Refer to the "Introduction to Ethereum" and "Ethereum Transactions" sections of this article for insights.
opBNB
The opBNB network is the second-layer scaling solution for BSC (Binance Smart Chain), built on the Optimism OP Stack technology framework. It enables developers to build Web3 applications such as games and social platforms on opBNB.
opBNB is compatible with EVM (Ethereum Virtual Machine), allowing developers to deploy smart contracts and build DApps on opBNB conveniently and quickly. Compared to BSC, opBNB offers higher throughput and lower transaction costs.
Learn more：https://docs.bnbchain.org/opbnb-docs/docs/intro
Working Principle
opBNB is supported by Optimism OP Stack and is created as an Ethereum Layer 2 network utilizing the Optimism Rollup scaling solution. It is fully compatible with the Ethereum Virtual Machine (EVM).
- OP Stack：A framework for building scalable and interoperable Layer 2 solutions.
- Optimism Rollup：Optimism Rollup employs a "fraud-proof" mechanism, where transactions are executed directly by default without prior validation and enter a waiting period. If there are objections to a transaction during this period, the transaction is canceled; otherwise, it is written into a block after the waiting period.
- EVM：Ethereum Virtual Machine, abbreviated as EVM, is like the CPU of a computer in the context of Ethereum. EVM allows for the verification and execution of code on the blockchain, ensuring that code runs in the same way on every device.
Features
- Gas capacity of 100 million per second, offering higher performance and scalability.
- Average gas fee below $0.005, ensuring low transaction costs.
- EVM compatibility.
- Integration with the BNB ecosystem.
opBNB wallet
Let's take a look at how to use opBNB with imToken. First download imToken (https://token.im ) to create/import a wallet and add an opBNB account.
NOTE: Please check how to download imToken safely before downloading.
If you did not add an opBNB account when creating/importing your wallet, please navigate to "My Profile" -> "Manage wallets" -> "Add", select the opBNB Mainnet network, and confirm. Then, return to the wallet homepage to access your newly created opBNB account. Now you can transfer/receive tokens and try out popular DApps on the opBNB network.
In September 2020, Binance launched the Binance Smart Chain (BSC) based on the Proof of Staked Authority (PoSA) consensus mechanism. BSC supports smart contracts and is compatible with the Ethereum Virtual Machine (EVM), allowing developers to deploy smart contracts and build DApps on the chain conveniently and quickly. The substantial transaction load of large-scale DApps on BSC necessitated higher throughput and lower gas fees.
Built on the OP Stack, opBNB aims to achieve transactions of over 4,000 TPS (transactions per second) and gas fees lower than $0.005. Through a second-layer scaling solution, it provides high throughput while maintaining decentralization and composability, making it suitable for critical applications such as gaming, social platforms, the metaverse, and high-frequency trading.
Binance
Binance is currently one of the world's largest cryptocurrency exchanges, founded by Canadian-Chinese entrepreneur Changpeng Zhao in 2017. Binance's mission is to "provide infrastructure services for the entire blockchain ecosystem," with a vision of "enabling money to flow freely globally."
EVM
EVM, short for Ethereum Virtual Machine, is to Ethereum what a CPU is to a computer. EVM allows for the verification and execution of code on the blockchain, ensuring that code runs in the same way on every device.
EVM compatibility refers to the creation of an environment similar to EVM, making it convenient for Ethereum developers to migrate smart contracts to a compatible chain without having to rewrite the smart contract code from scratch.
opBNB Block Explorer
The opBNB Block Explorer is a website that queries information such as opBNB blocks, transactions, tokens, addresses, etc. It provides real-time and synchronized updates for all opBNB node information.