Breaking: Binance’s BNB Chain To Announce Layer 2 Blockchain Solution
The layer-1 blockchain BNB Chain by the world’s largest crypto exchange Binance on Thursday teases a major announcement coming on June 19.
The move comes after BNB Chain successfully implemented the Luban hard fork upgrade introducing fast finality, and enhancing security and transaction reliability.
BNB Chain Teases Layer-2 Blockchain Solution
BNB Chain on its official Twitter account on June 15 posted a teaser video about the future of BNB Chain, unlocking the power of the chain.
The teaser video shows many clues, with a major hint of “Layer 2 Blockchain Solution.” The latest innovation is a high-performance Layer-2 Ecosystem, with high capacity and low-cost transaction processing. It also hints at a gas per second of 100 million.
19.6.23 pic.twitter.com/R8ZLTNt4kS
— BNB Chain (@BNBCHAIN) June 15, 2023
The social media bio is also changed to “a brand-new way to scale your project with BNB Chain.” BNB Chain has asked users to make guesses about the reveal on June 19, as few clues are already mentioned in the teaser video.
It follows after BNB Chain completed the Luban network upgrade and hard fork. Luban hard fork incorporates three different Binance Smart Chain (BSC) Evolution Proposals (BEPs): BEP-126, BEP-174, and BEP-221. These aim to make the network faster and more secure.
BEP-126 introduces Fast Finality, making block reorganizations almost impossible. In addition, it enhanced security against double-spend and MEV reorg attacks, irreversible transactions after confirmation, and efficient operations for crypto exchanges and DeFi protocols.
Also Read: Crypto Community Alleges Prometheum’s US SEC And FINRA Approval Is Controversial
BNB Price Falls
BNB price fell 6% in the last 24 hours and 12% in a week. The price is currently trading at $233, with the 24-hour low and high of $231 and $249, respectively. Furthermore, the trading volume has declined by 30% in the last 24hrs, indicating a decrease in interest.
BNB price has been under pressure after the US SEC filed lawsuits against Binance, Binance.US, and CEO Changpeng “CZ” Zhao for fraud and violating securities laws. The BNB price is down 25% since then.
According to a price analysis published by CoinGape Markets, BNB price is at risk of further fall.
Also Read: Tether (USDT) Depegs After Curve-Aave Loan Saga; Spooks Crypto Market
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