Designed to ensure scalability, zkBNB launched on the BNB Chain testnet on Sept. 2 ahead of the official release scheduled for November.
Meet zkBNB on BNB Chain
Leading blockchain BNB Chain announced the launch of zkBNB. Built to solve problems associated with blockchain scaling, zkBNB launched on the testnet on Sept. 2 to allow developers to interact with the code, which has been made open source ahead of the official release scheduled for November.
According to the blog post, zkBNB is designed to ensure scalability on BNB Chain. By leveraging the network security offered by the chain, zkBNB is able to roll up sidechain transactions into a single transaction. This single transaction then generates a cryptographic proof, commonly referred to as a Succinct Non-interactive ARgument of Knowledge (SNARK).
Built to handle a lot of transactions within a short period of time, zkBNB is able to handle transactions from 100 million addresses and process 5,000 to 10,000 transactions per second, according to BNB Chain.
Tool for Web3 Developers
zkBNB exists the serve the varying needs of developers within the Web3 ecosystem. Builders of NFT dApps, for example, can deploy zkBNB’s built-in NFT marketplace and API services. According to BNB Chain, this will “allow teams to construct an ‘out-of-the-box’ marketplace for crypto collectibles and NFTs.”
Also, blockchain gaming and social media projects can be enhanced with zkBNB. The scaling solution will limit long delays relating to on-chain resolutions. With support for a no-hassle tokens operation, developers can easily transfer BNB and BEP20, BEP721, and BEP1155 tokens between BNB Chain and zkBNB.
Lastly, with improved REST APIs, zkBNB can be deployed by blockchain game developers and other content projects to launch faster and more seamlessly.
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This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Related News
Binance Executive Tigran Gambaryan Sues Nigeria's NSA and EFCC
The lawsuit reflects escalating tensions amidst allegations of innocence and regulatory scrutiny surrounding Binance Nigeria's alleged involvement in illicit financial activities.
The detained executive of Binance, Mr. Tigran Gambaryan, has taken legal action against Nigeria's National Security Adviser (NSA) Nuhu Ribadu, and the Economic and Financial Crimes Commission (EFCC).
Gambaryan, along with the firm's Africa Regional Manager, Mr. Nadeem Anjarwalla, filed a fundamental human rights violation suit amidst ongoing legal turmoil.
Gambaryan's legal challenge, initiated alongside his lawyer Mr. Olujoke Aliyu, aims to address his prolonged detention by the federal government. The suit, presented before Justice Inyang Ekwo of the Federal High Court in Abuja, challenges the legality of Gambaryan's continued confinement and the seizure of his international travel passport.
Gambaryan, a US citizen overseeing financial crime compliance at Binance, contends that his detention and passport seizure violates Section 35 (1) and (4) of Nigeria's 1999 Constitution. His legal team seeks various reliefs, including his release from custody, the return of his passport, a public apology from the NSA and EFCC, and an injunction against future investigations.
Allegations of Innocence Amidst Legal Turmoil
Gambaryan and his colleague's legal representatives maintain their innocence, claiming that the arrests occurred during discussions with Nigerian authorities regarding legal conflicts involving Binance.
In a dramatic turn of events, Binance's African regional manager, Nadeem Anjarwalla, recently fled Nigerian custody. Anjarwalla's escape follows mounting tensions surrounding the Nigerian authorities' investigation into alleged illicit financial activities involving Binance Nigeria, totaling a staggering $26 billion.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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