Markets News Report
March 01, 2024

BNB Chain’s opBNB and BSC Dominate as Top Blockchains by Daily Active Users

In Brief

BNB Smart Chain (BSC) recently claimed the top spot in L1 DAU with 1.3M, while opBNB emerged as the no. 1 blockchain overall with 1.7M DAU.

opBNB and BSC Dominate as Top Blockchains by Daily Active Users on BNB Chain

Community-driven blockchain ecosystem BNB Chain achieved a significant milestone as its governance chain, BNB Smart Chain (BSC), claimed the top spot as the number one Layer 1 (L1) blockchain by Daily Active Users (DAU). With an impressive user base exceeding 1.3 million as of February 27, 2024, BSC solidifies its position as a leading force in Web3.

“Starting from 2024, the Web3 industry is shifting its focus towards fully on-chain (FoC) Dapps. However, developers have lacked a comprehensive, integrated tech stack to transition their applications to a fully on-chain Web3 framework. This is where BSC’s mature and robust infra comes in as BNB Chain can address this gap in the market and introduced the “One BNB” multi-chain paradigm,” a spokesperson from BNB Chain’s Core Development Team told MPost.

During its All-Time High (ATH) of 32 million transactions in a single day, BSC demonstrated its mature and robust infrastructure with a peak throughput of 2,000 transactions per second (TPS). This surpassed the industry-wide benchmark for daily transactions in all EVM blockchains. With an average transaction cost of $0.03, the lowest gas fee of any L1, and 5K Transactions Per Second (TPS), BSC provides an optimal environment for projects to grow and thrive.

While BSC leads as the top Layer 1 blockchain by DAU, it holds the second position across the entire blockchain industry, second only to BNB Chain’s L2, opBNB. Since January 9, 2024, opBNB has maintained its status as the number one blockchain by DAU, boasting over 1.7 million DAU.

“opBNB is ideal for Dapps that require high transaction frequency, like fully on-chain games. It offers the lowest gas fees among L2s, with transactions costing <$0.001 and delivers very high performance, processing 5K-10K TPS,” said BNB Chain’s spokesperson. “Now, opBNB Connect has been introduced to allow large-scale Dapps to launch custom L2s to further foster development and innovation.”

In the last quarter of 2023, opBNB registered all-time highs of 71M transactions per day and 4.5K transactions per second. In 2024, opBNB gas fees will decrease by up to 10x to <$0.0001 and gas limits will double from 100M to 200M (10K TPS), solidifying opBNB’s position as the highest-capacity L2 solution. The team is now prioritizing several critical areas for ongoing optimization, aiming for enhanced performance and flexibility.

Additionally, BSC hosts the second-highest number of DeFi protocols among all chains, including lending, liquid staking, DEXs, and restaking. The recent launch of Aave further cements BSC’s position as an ideal choice for DeFi protocols seeking integration within the ecosystem.

“Our commitment to mass adoption remains unchanged. The BNB Chain DeFi ecosystem achieved a 33% quarter-over-quarter increase in DeFi TVL by the end of 2023. Coupled with the “One BNB” multi-chain strategy for mass adoption, BNB Chain welcomes more projects and builders to accelerate the pursuit of our vision: to onboard the next billion Web3 users,” said BNB Chain’s spokesperson.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Victor is a Managing Tech Editor/Writer at Metaverse Post and covers artificial intelligence, crypto, data science, metaverse and cybersecurity within the enterprise realm. He boasts half a decade of media and AI experience working at well-known media outlets such as VentureBeat, DatatechVibe and Analytics India Magazine. Being a Media Mentor at prestigious universities including the Oxford and USC and with a Master's degree in data science and analytics, Victor is deeply committed to staying abreast of emerging trends. He offers readers the latest and most insightful narratives from the Tech and Web3 landscape.

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Victor Dey
Victor Dey

Victor is a Managing Tech Editor/Writer at Metaverse Post and covers artificial intelligence, crypto, data science, metaverse and cybersecurity within the enterprise realm. He boasts half a decade of media and AI experience working at well-known media outlets such as VentureBeat, DatatechVibe and Analytics India Magazine. Being a Media Mentor at prestigious universities including the Oxford and USC and with a Master's degree in data science and analytics, Victor is deeply committed to staying abreast of emerging trends. He offers readers the latest and most insightful narratives from the Tech and Web3 landscape.

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