BSC Will Be Extending Its Ecosystem To Cross-chain And Multi-chain In 2022!
Since this network launched in September 2020, the ecosystem has grown rapidly, with hundreds of projects and millions of people using this infrastructure regularly.
As BSC grew, it experienced a couple of challenges such as network congestion and node operators facing difficulties managing their full node to sync with the latest block.
Hence in 2022, BSC development teams and community pioneers would like to share the outlook for the future development direction of the BNB blockchain ecosystem and to demonstrate the resilience and persistence of the BNB spirit: for the builders and users and target to onboard 1B users.
The big lesson learned from BSC 2021 is that “one chain” cannot cover all angles. At peak time, the network had more than 2M daily active users (DAU), with a single GameFi reaching up to 1M DAU. This introduced significant challenges for both the network itself and its supporting infrastructure like RPC/API nodes. For dApps with massive user bases, multi-chains and cross-chain should be the solution.
As the decentralized computing infrastructure, the blockchain will bear the same principle of diversification among generalization and specialization. They must understand blockchain as a computing resource, which is scarce and limited. They cannot expect games and/or social media applications to compete for computing resources with financial ledgers and business transactions, let alone expect all these applications to run on the same network with the exact fees and transaction speeds.
The BSC Core Team strongly believes in partition chains and a multi-chain future as it can sustain the ever-increasing demand for decentralized computing power and storage. This is consistent with many other blockchains in the industry, such as ETH2.0 and multi-chain strategies in Polkadot, Cosmos, and Avalanche.
The cross-shard and cross-chain/multi-chain interoperability will be the key topic of 2022. The validators and developers community is dedicated to fulfilling BSC’s vision to operate at the crossroads of a decentralized blockchain future. Specifically, they aim to achieve this by implementing new technologies on BSC and via BSC Application Side Chain (BAS) and BSC Partition Chain (BPC) infrastructure layers.
1. BSC Application Side Chain (BAS)
The BAS is an infrastructure introduced to help developers and node operators build and run their own blockchain as their internal value system for a massive number of users while still maintaining a close connection with BSC. Any project developer will be able to deploy their own BAS with its unique specifications and validator set.
This validator set can run with fewer validators than BSC, depending on the BAS deployer. These validators can be run by the application owners or any community stakeholders, bringing more flexibility and decentralization to BAS. The typical usage of BAS is like the Ronin chain for the Axie Infinity. However, to minimize the potential risks of the side chain, a new protocol (including built-in asset types and cross-chain) should be introduced to ensure seamless liquidity between BAS and BSC.
2. BSC Partition Chain (BPC)
The BPC will introduce another subspace with a new validator set, a new computing engine, and a new ledger. Essentially it works as a “shard” or a “layer 2” to offload part of the data, computing, and transactions from the BSC Mainnet to other smaller parallel blockchains.
BPC will be a PoSA based blockchain like BSC. Anyone can become a validator for one or more particular BPC on Binance Chain, which will serve as the beacon chain. The validators can call for delegation to be elected into the validator set of BPC. The election could work on the same principles as the validator elections on BSC – validators are elected every 24 hours based on their staking power (staked BNB).
Deployment of BPCs will decrease the number of data stored by dividing it across multiple BPC blockchains.
CZ has retweeted some tweets about this 2022 update on January 27.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
- Panasonic brings back the alluring film making program for students
- Phenikaa MaaS and VinBus team-up to implement solutions for the smart bus management system
- Here’s why Vietnam listed among seven economic wonders of a worried world by the Financial Times
- Mastercard Expands Partnership with TripLink to Facilitate New Cross-Border Payment Pathways
- Klook leads Asia Pacific travel recovery with strong 300% QoQ revenue growth as it celebrates its eighth year of operations
Phenikaa MaaS and VinBus team-up to implement solutions for the smart bus management system
Hi-tech manufacturing will boost economic growth in Vietnam
Emirates takes home three honors at Skytrax World Airline Awards 2022
Volvo Golf Championship Vietnam 2022 attracts nearly 600 golfers
MoIT drafts mechanism to adjust average retail power price