Journalist
Posted:
- opBNB’s market share in the user base increased from 13% to 22% in the first month after launch.
- The average gas price on opBNB was only 0.008 gwei.
BNB chain [BNB] Layer-2 (L2) scaling solution onBNB has been making waves since it went live on mainnet in September.
opBNB is shaking up the L2 ecosystem
In its first month of operation, the project became the L2 with the second highest number of daily active users (DAU), BNB chain said in blog post.
opBNB was just behind Ethereum [ETH] scale solution Arbitrum [ARB]according to data retrieved from each chain’s respective scouts through October 30.
Notably, the DAU count peaked at 92,761 on September 15 and witnessed continued growth in the second half of October. onBNBScan data showed. This increased opBNB’s market share from 13% to 22% within the first month of launch, BNB Chain claimed.
Source: opBNBScan
The growth of the user base resulted in a spike in on-chain transactions. The daily number of transactions peaked at 790,088 on October 19, around the same time that user activity started to boom.
Although the count dropped to 226,540 over the last 24 hours, it was still significantly higher than the 100-150K range seen during the testing phase.
At the time of writing, almost 20 million transactions have been completed on the network since launch.
Source: opBNBScan
On the same day the number of transactions peaked, the number of transactions per second (TPS) rose to 9.14. With an average of 5 TPS, opBNB was comparable to the top L2s in terms of transaction throughput.
Apparently it only took one second to produce a new block on the L2, as shown by the average block times.
opBNB makes transactions cheaper
In addition to better transaction throughput, opBNB also significantly reduced gas costs.
According to the data, the average gas price on opBNB was only 0.008 gwei. Note that the average gas price was on the BNB chain 7.46 gwei on November 8.
Source: opBNBScan
Such attractive gas prices have the potential to make opBNB the logical choice for high-frequency applications, especially those of gaming and NFTs.
In fact, much of the aforementioned growth in user activity and transactions was driven by NFTs.
Source: opBNBScan
Read BNB’s price forecast for 2023-2024
Meanwhile, the original token BNB benefited from the ecosystem of the broader bullish market.
The fourth-largest digital asset exchanged hands at $250.99, with a gain of 8.58% in the past week, according to CoinMarketCap.