BSC News

BSC Sets Its 2022 Priorities on Community Building, Multi-Chain and Scalability

BSC kickstarts the year focussing on meeting existing challenges and creating value.

BSC 2022: Build N’ Build

Binance Smart Chain (BSC), one of the largest community-driven ecosystems, has just unveiled its outlook for 2022 titled, ‘BSC 2022: Build N’ Build’. BSC reveals its development plans with key areas of focus that prioritize community building, multi-chain and cross-chain solutions and scalability. 

Source: BSC in a span of 16 months has grown exponentially and is now setting targeting the onboarding 1 billion users

BSC development team and community pioneers share their future development direction for 2022. This includes moving away from a ‘single-chain’ ecosystem to a 'multi-chain’ or ‘cross-chain’ ecosystem. 

The development team realizes that with the growth of BSC, it now faces challenges such as network congestion and node operators having trouble in managing their full node to sync with the latest block. Therefore, to live up to its spirit of ‘for the builders and users’ the ecosystem must evolve and adapt to changes. This will be carried through periodical upgrades and introduction of new features.  


Empowering the BSC Community

The BSC community is the driving force that helped spur the growth of the ecosystem. Therefore, the ecosystem will be co-build with its community. Community’s expectations will chart the direction of BSC. 

In order to encourage the community to take a proactive approach, BSC 2022 will be the first topic in BSC’s developer’s forum to share feedback, to propose new ideas and to discuss ideas. BSC will be embracing the community to develop open-source technologies and to continue supporting the community through events, funding and talent development. 

BSC will be hosting in-person and virtual events, hackathons and workshops. In the month of February, a BSC 2022 hackathon event will be held. This is followed by a BSC 2022 Summit in the first half of the year.  


Scaling 

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. Samy Karim, the BSC Ecosystem Coordinator said, 

“After prolonged periods of ATH network transactions and huge user engagement, we focused on increasing the scaling architecture. Whilst the learning curve has been very steep, we are very excited for the road ahead. These potential improvements will benefit not only BSC but also the broader EVM compatible ecosystem.”

First, validators and node operators requirements will be scaled down. This will reduce operational burden and enhance decentralization. More validators can be onboarded for block productions. Secondly technologies like Erigon could decrease time and storage demands. 


Multi-Chain and Cross-Chain

The primary focus here for the BSC ecosystem would be interoperability. BSC has learned that a single chain cannot cover all angles. Some dApps have massive user bases and this will increase the load on both the network and the supporting infrastructures. Hence, multi-chain and cross-chain is the solution. 

Blockchain must be understood as a computing resource that is both scarce and limited. With the growth of games and social media applications consuming these resources and competing with financial ledgers and business transactions, these applications cannot run on the same network on the same fees and transaction speed. 

Source: Computing power is a resource that is scarce and scalability solutions such as side-chain and partition-chain will be a solution

In order to sustain an ever-increasing demand for decentralized computing power and storage, BSC’s core team believes in partition chains and a multi-chain future. New technologies will be implemented on BSC via BSC Application Side Chain (NAS) and BSC Partition Chain (BPC) infrastructure layers.

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