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BNB Chain unveils a new scaling technology

CZ Binance Tweet Skyrockets Terra Classic’s (LUNC) Price
CZ Binance Tweet Skyrockets Terra Classic’s (LUNC) Price

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BNB chain has unveiled a new scaling solution, zkBNB. The new development became known via a blog post on the BNB chain webpage. The BNB chain describes how the information has shut out rumors regarding scaling solutions on the chain.

Before now, there was a strong argument that meaningful solutions on the BNB chain would take a long time to be deployed. With zkBNB, the protocol believes it will change the narrative by helping developers “build large-scale BNB Smart Chain-based applications.” 

Furthermore, the BNB chain believes that solutions built with zkBNB will have a high level of security, rapid processing of transactions, a massive reduction in transaction fees, and a faster transaction speed. The protocol added that the release of zkBNB highlights its commitment to providing “advanced and secure blockchain infrastructure for Web 3.0 dApps. 

The announcement gave more insights into some unique attributes of the new scaling solution. It indicates that zkBNB’s code is open-source, making it seamless for developers to extend the functions of zkBNB to some specific use cases. The protocol added that it attached important documents and integration playbooks relating to the scaling solution. With that inclusion, zkBNB opined that developers would explore numerous opportunities.

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Functions of zkBNB

One of the most distinctive functions of the scaling solution is that it secures building opportunities that use the same underlying layer one security level employed by BNB Smart Chain. The zkBNB achieves this by turning sidechain activities into a single one. This single activity generates a cryptographic proof prominently known as Succinct Non-interactive Argument Of Knowledge (SNARK). 

With the features mentioned above, zkBNB provides a kind of unique scalability that’s rare in the crypto space—also, zkBNB aids in integrating payments and atomic swaps with a little coding process. Additionally, with zkBNB, digital assets can now be traded without permission. It utilizes in-built AMM swap and liquidity pools for DeFi use situations.

The new scaling solution will provide healthy competition between developers in the Web 3.0 space. More so, zkBNB will allow developers to design an ‘out-of-the-box’ marketplace for crypto collectibles, NFTs, and other virtual assets.

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