The 2024 Annual Report on BNB Chain highlights a transformative year of growth, security enhancements, and innovation. The ecosystem achieved major milestones, including the successful consolidation of its network under the One BNB Multichain Strategy, advancements in scalability through opBNB and Greenfield, and initiatives fostering stablecoin adoption and DeFi growth.Key Achievements in 2024:1. Network Upgrades and ScalabilityNetwork Consolidation:The BNB Beacon Chain functionalities were merged into the BNB Smart Chain (BSC), streamlining operations, reducing security risks, and enhancing scalability.opBNB Scalability:Achieved 4,600 transactions per second (TPS) with plans to scale to 10,000 TPS in 2025.Introduced TxDAG for parallel transaction execution, boosting performance by 30%.Maintained a competitive transaction fee of $0.001.Greenfield Enhancements:Launched the alpha version of Greendrive and introduced BNB Archive Layer for decentralized historical data storage.Improved functionality through major forks like Hulunbeier, Ural, and Pawnee.2. Ecosystem Activity and MetricsDaily Active Users (DAU):opBNB: 4.7 million average DAU.BSC: 1.12 million average DAU by year-end.Total Value Locked (TVL):BSC TVL grew 58.2% from $3.5 billion to $5.5 billion.opBNB TVL increased 27.6% to $19.2 million.Transactions:BSC processed an average of 4 million daily transactions (+2.5% YoY).opBNB averaged 7.1 million daily transactions.Unique Addresses:BSC unique addresses grew 17.7%, reaching 486 million.3. Security ImprovementsTotal financial losses dropped 67%, from $162 million in 2023 to $53 million in 2024.Number of security incidents decreased by 66%, reflecting effective security measures.4. Key InitiativesStablecoin Integration:Gas-Free Carnival eliminated fees for stablecoin transfers, boosting usage by 2.1% within a week.Stablecoins accounted for 8.8% of all BNB Chain transactions.AI-First Blockchain:Positioned as a hub for AI-driven applications, integrating high throughput, low costs, and secure data storage.Successful AI projects include MyShell, Holoworld AI, and ChainGPT.Meme Innovation Battle:Distributed $1 million to support creative memecoin projects, enhancing trading stability and liquidity.Most Valuable Builder (MVB) Program:Seasons 7 and 8 supported over 1,200 applicants, with investments in standout projects through Launch-as-a-Service (LaaS).BNB Chain Incubation Alliance (BIA):Hosted 5 global events, awarding 12 winners and driving Web3 project development.5. Vision for the FutureThe BNB Chain ecosystem is poised to lead the next wave of Web3 adoption by focusing on:Scalability and Performance: Ongoing improvements to opBNB and Greenfield.Developer and Community Support: Enhanced programs like MVB and BIA.Innovation and Engagement: Continued emphasis on stablecoins, DeFi, and AI applications.With significant advancements in 2024, BNB Chain solidifies its position as a premier platform for blockchain innovation and adoption. The ecosystem's commitment to growth, security, and developer support paves the way for an impactful future in the Web3 space.
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