BNB Chain tackles decentralization
As part of the Revelation Summit, an event broadcast live on YouTube, the team behind the BNB Chain revealed a new technology roadmap for its blockchain. Launched by Binance in 2020, BNB Chain is one of the most popular blockchainsa direct competitor of Ethereum (ETH).
Concretely, the objective is to improve decentralization, infrastructure capacities and governance systems in order to give developers the keys to create decentralized applications (dApps) of tomorrow.
As a reminder, last February, the Binance Chain and the Binance Smart Chain (BSC) became one and became the BNB Chain. On this occasion, the team declared that the blockchain would soon welcome new validators. According to today’s announcement, it’s now done: the number of validators on the BNB Chain will go from 21 to 41.
In addition, the team announced that the small validators should have a better chance to participate in the consensus and generate rewards. Regularly singled out for its lack of decentralization, this initiative was eagerly awaited by the community. According to the announcement, BNB Chain wants to decentralize “a central element” of its strategy.
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A “faster, more secure and scalable” blockchain
According to the information disclosed during this Revolution Summit, the new decentralized applications on the BNB Chain should offer “increased capacity, faster transactions, increased decentralization, network security and stability to consumers”.
More specifically, the BNB Chain team will increase the gas capacity of the network blocks to 200 million, which will allow for faster and cheaper transactions. According to them, “This enhancement will result in a seamless dApp experience, even during peak network traffic.”
— BNB Chain 🔶 (@BNBCHAIN) May 31, 2022
In other words, this new roadmap implies both an improvement in transaction speed and scalability of the network as well as decentralization. Two aspects that are part of the blockchain trilemma alongside Security and which are often considered incompatible.
👉 Going further – Binance BNB Chain will deploy sidechains to improve its performance
Source: BNB Chain YouTube
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