Binance’s NBB Chain has unveiled zkBNB, a scaling solution that enables more transactions, faster and at low cost. The technology will use the Knowledge Zero Disclosure Proof System to package many transactions into one.
BNB Chain introduces its zkBNB scalability solution
In an effort to scale up as necessary to build a network that lives up to its goals, blockchain BNB Chain has unveiled the zkBNB layer 2. Layer 2s are currently the hottest technologies for improving network performance, and among these second-layer solutions is a very specific category called ZK Rollup.
This will be the case of zkBNB, which has been in testnet since September 2, and whose first tests announce a capacity of 5 to 10,000 transactions per second, through 100 million addresses.
Like other Zero Knowledge technologies, zkBNB of the NBB Chain will use the SNARK proof, which stands for “Succinct Non-Interactive Argument of Knowledge”. This can be translated as “succinct non-interactive argument of knowledge”.
In simple terms, this layer 2 will be able to wrap many transactions into one, to send them on the main chain, thanks to an encryption process attesting their validity.
The use cases for this technology
For the BNB Chain, the endgame is simple with zkBNB: to be able to handle more transactions, faster and at low cost. It is therefore a crucial step, for Binance to succeed in its bet to deliver a massively adopted blockchain.
The zkBNB solution would be, for example, a very suitable environment for the GameFi sector. Indeed, video games involving the use of non-fungible tokens (NFT) require a multitude of transactions, which must be as inexpensive as possible.
It is also specified that the network supports the different token standards of the BNB Chain ecosystem such as BEP20, BEP721 and BEP1155. On the other hand, a comprehensive API system should allow Web3 developers to easily create applications.
According to Defi Llama, the BNB Chain is in the 3ᵉ place of decentralized finance (DeFi) blockchains. It records a total locked value of $5.29 billion, for 458 applications (dApps) present on its network. The arrival of zkBNB could thus help it consolidate its position, or even give it a foundation for greater adoption.
