OpBNB Aims to Double Transaction Speed and Slash Network Fees by 90%

According to CoinDesk, BNB Chain developers plan to more than double the transaction speed and reduce network fees by 90% as part of a new technical roadmap for layer-2 network opBNB. The increase will take processing to 10,000 transactions per second (TPS) from around 4,000 and cut the cost to $0.0005 within six months, according to the plan. The first fee cut, to $0.001 from $0.005, is scheduled for Dec. 4. The network is based on Optimism’s OP Stack. The targeted speed would place opBNB among the fastest layer-2 networks, with popular offshoot Arbitrum capable of a claimed 40,000 TPS. The number of users on opBNB has climbed steadily since its September release. Transactions reached a record 5.4 million last week, taking lifetime transactions to over 20 million. The developers say they expect opBNB’s gas limit per block to double to 200 million per second. The gas limit is the maximum price a user is willing to pay when sending a transaction. Higher limits can help speed up transactional processing during times of high demand. The upgrades are scheduled over the next year and are expected to help opBNB support on-chain games and high-frequency decentralized finance (DeFi) applications.