Thread by @OvrCldJonny

A new rollup has entered the arena... opBNB!

#Binance just announced an optimistic rollup that is already live on testnet.

Did Binance really just fork Optimism and launched their own L2?

Here's a summary of what's going on 👇

1/ opBNB is based on the bedrock version of the Optimism OP Stack that is EVM-compatible.

This rollup is built on top of the existing BNB Chain and not Ethereum Mainnet (like most other Optimistic rollups we have seen so far).

2/ Binance claims that opBNB will be pushing gas limits "to a whopping 100M", more than Optimism's 30M gas limit (according to their article).

They claim that opBNB will be able to process 4000 transfers per second with average transaction costs below half a cent.

3/ Not going to lie, the gas limits seem concerningly high, but the technical details of blockchain scalability is not my area of expertise.

4/ BNB will remain the native currency of the opBNB chain.

The new rollup will have "native integration" with the BNB ecosystem, so we can expect a similar on and off-ramp experience directly with the Binance CEX as we do with the existing BNB Chain.

5/ In their docs, they seem to hint at the fact that they'll be implement Proto-Danksharding and Danksharding to the existing BNB Chain when possible.

They have also announced their own dedicated storage layer called BNB Greenfield.

6/ The team seems to want to be competitive in the gaming and NFT space to compete with the likes of Polygon with their low fees and easy onboarding experience.

They mention gaming, metaverse and social networks several times in their docs and announcements.

7/ Competition in the general purpose rollup space is fierce right now.

With all the new ZK-rollups entering the space on top of the existing optimistic rollups, developers are spread quite thin.

8/ The @BNBCHAIN team is banking on the existing large BSC ecosystem migrates and builds on this new opBNB chain to kickstart the ecosystem.

Will their existing community pull through? Will this just end up fragmenting user base and liquidity across their two existing chains?

9/ Their docs state that opBNB will interoperate with other L2 platforms "like Optimism". Does this mean that it will be connected to @optimismFND 's Superchain?

If so, this would mean a lot of interoperability between opBNB, Optimism and Coinbase's @BuildOnBase L2 coming soon.

10/ I quote tweeted the announcement thread here along with,

the announcement article:
bnbchain.org/en/blog/introd…

their technical docs (took some graphics from here):
docs.bnbchain.org/opbnb-docs/doc…

https://twitter.com/BNBCHAIN/status/1670783527485419521

11/ So what are your thoughts?

Will you be experimenting the new BNB L2?
Do you think Binance is bringing anything new or useful to the table?

Let me know your thoughts in the replies!

12/ If you'd like to learn more about Optimism and Arbitrum's roadmap and how they compare, be sure to check out my thread on that here:

https://twitter.com/OvrCldJonny/status/1645801123834662916

If you learned something from this thread, please like and retweet it to let this wassie know that his 14 day life was well-spent.

Don't hesitate to follow me if you want to see more threads like this, and I look forward to hearing your opinions in the replies

https://twitter.com/OvrCldJonny/status/1670827320549212163

Tagging the degen army for their thoughts:
@_FabianHD

@pt1mfv_

@francescoweb3

@DeFiMinty

@schizoxbt

@Subli_Defi

@0xsurferboy

@rektdiomedes

@chilla_ct

@defi_mochi

@CryptoKoryo

@2lambro

@thelearningpill

@0xFlips

@crypto_yuvi

@burstingbagel

Degen army part 2:
@DAdvisoor

@Louround_

@CJCJCJCJ_

@crypthoem

@0xSalazar

@WinterSoldierxz

@jake_pahor

@kindahangry

@Slappjakke

@arndxt_xo

@CryptoShiro_

@ThisIsM1NH

@crypto_linn

@rektfencer

@NNovaDefi

@0xShinChannn

@DefiIgnas