Can BNB achieve mass adoption in 2024? What the roadmap suggests
- The update mentioned that opBNB, BSC, and Greenfield would be interconnected.
- Development activity on the chain dropped but BNB Chain plans to bring in more developers.
Smart contract blockchain ecosystem BNB Chain has released details about its 2024 roadmap, AMBCrypto confirmed.
According to the blog post dated the 31st of January, it wants to create a “One BNB” paradigm. BNB Chain explained that the paradigm would be geared at creating a multi-chain framework.
Details from the post showed that the framework would connect the Binance Smart Chain (BSC), its L2, the opBNB, and the Greenfield layer. Greenfield is the decentralized storage sector of the BNB Chain. On the other hand, opBNB is designed to support large-scale decentralized Applications (dApps).
“One BNB” for all?
The project also noted that interconnection would advance data storage and processing. It also mentioned the development would enhance scalability and improve decentralization.
Furthermore, BNB Chain noted that it plans to increase transactions on opBNB to 10,000 Transactions Per Second (TPS). However, the statement also mentioned that the upgrade would be done in two stages.
In stage one, the focus would be on the security. Stage 2 would, however, focus on systems for code integrity. AMBCrypto analyzed the possible outcome of this proposal. From our analysis, we found that the multi-chain paradigm might increase the number of active users on the BNB Chain.
According to data from Santiment, BNB’s development activity has been flat for a while. This position implied that developers within the ecosystem have not been shipping new features.
Greenfield 2.0 is coming
But with the plans in place, the state of the metric might change. Another on-chain metric we assessed was social dominance. At press time, the social dominance had dropped to 0.965%. This suggests that discussions around BNB have decreased compared to what it was a few days ago.
Despite the decline, the BNB Chain core development team said it was open to working with developers. The statement read,
“In 2024, we call on all developers to build on BNB Chain and contribute to a second consecutive year of incredible Web3 growth. As our ecosystem continues to expand, we are making it our mission to establish a unified and super powerful multi-chain paradigm and empower an ecosystem that is super-fast, cost-effective, scalable and user-friendly.”
Should the chain get an increase in developer count, then it can achieve mass adoption in 2024. Besides that, BNB Chain noted that it plans to more than double active validators from 40 to 100.
According to the project, this would help implement the fusion of the Beacon Chain. It also noted that the update would bring about the introduction of BNB Greenfield 2.0
How much are 1,10,100 BNBs worth today?
If Greenfield 2.0 launches, the blockchain performance might increase by 5x.
Also, the upgrade would bring in new features to build more application-specific data infrastructure for AI, on-chain gaming, DePIN, and DeSoc, the project mentioned.