zkBNB can support 100 million addresses and handle up to 10,000 transactions per second, with its ZK-SNARK proofs providing the same security as BNB Chain.
ZkBNB at a glance
Rolling out to testnet on September 2, zkBNB is designed to leverage the power of Zero Knowledge-Rollups to address issues associated with scalability on BNB Chain.
Similar to other ZK-Rollups, zkBNB has the ability to aggregate hundreds of transactions into a single off-chain batch and generate cryptographic proof, commonly referred to as a non-interactive succinct knowledge argument (SNARK).
The distinction, of course, is that zkBNB is designed as a layer two (L2) solution for scaling the BNB chain, while the more common L2 solutions are designed for scaling Ethereum.
According to the new publication from Binance Research “Layer 2 Scaling Market Update“, zkBNB’s ZK-SNARK Proofs Allow Computation and Storage to BNB Sidechains While Funds are Held on BNB Chain
The general ecosystem of layer two solutions
According to Binance Research, in the world of layer two solutions, there seems to be a preference for rollups (optimistic and ZK) over other L2 scaling solutions such as sidechains, status channels and Plasma.
Although transactions are processed faster on sidechains, status channels, and plasma, rollups are preferred because they offer more security.
Binance Research found that ZK-Rollups are preferable because they are designed to offer more in terms of security, performance, usability “and other remarkable aspects”.
Moreover, with the introduction of Ethereum Virtual Machine (EVM) ZK-Rollups (zkEVMs), Binance Research said a “major milestone in terms of the coding language used and accessibility for developers” has been reached.
This is because most existing ZK-Rollup platforms are written in low-level hex assembly language, instead of Solidity. With the addition of EVM functionality to ZK-Rollups, developers can create their Decentralized applications (dApps) to run natively on L2 rollups without worrying “about the risks introduced by the programming language differences of L2 and Ethereum.”
Where does zkBNB fit in?
According to the report, the zkBNB mainnet is expected to launch in the first quarter of next year. The rollup can support 100 million addresses and handle up to 10,000 transactions per second (TPS). (BNB Chain, by comparison, can handle a maximum of 300 TPS.)
Gas fees on zkBNB are as low as a tenth of the fees on the leading smart chain.
On Ethereum, the Optimistic Rollups Arbitrum and Optimism are the dominant L2s, accounting for over 80% market share, according to L2BEAT.
The launch of Polygon’s zkEVM Public Testnet, which is fully equivalent to Ethereum, and the launch of zkSync 2.0 Public Testnet add to the mix.
With all the ongoing developments in the L2 ecosystem, zkBNB will find itself surrounded by good company and competition.
What is BNB Channel:
Formerly known as Binance Smart Chain (BSC), BNB Chain is a community-based, decentralized and censorship-resistant blockchain powered by Binance. It consists of BNB Beacon Chain and BNB Smart Chain, which are EVM compatible and facilitate a multi-chain ecosystem. Through the concept of MetaFI, BNB Chain aims to build the necessary infrastructure to power the global parallel virtual ecosystem.
Read more about the BNB channel here:
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