The Rebirth of BNB Chain: From Grassroots to Empire

BNB Chain has experienced a glorious journey from grassroots beginnings to becoming the second largest public chain in the blockchain world, and is now facing new challenges and opportunities. This article will review the development history of BNB Chain, analyze the current dilemmas it faces, and discuss its strategies for revitalization and future prospects.

1. The Rise of BNB Chain

1. BNB Chain ( Binance Chain )

In April 2019, Binance launched the Binance Chain, mainly to support the Binance decentralized exchange (DEX). This chain does not support smart contracts and focuses solely on transfer speed and stability.

2. Binance Smart Chain ( BSC )

In September 2020, Binance Smart Chain ( BSC ) was launched. BSC is a public chain compatible with the Ethereum Virtual Machine ( EVM ), characterized by low gas fees, fast block generation, and low deployment thresholds. BSC adopts an innovative PoSA ( Proof of Staked Authority ) consensus mechanism, combining the advantages of DPoS and PoA.

3. BNB Chain

In February 2022, BNB Chain was officially launched, formed by the merger of the BNB Beacon Chain (, the original Binance Chain ), and the BNB Smart Chain (, the original Binance Smart Chain ). The BNB Beacon Chain is responsible for governance, while the BNB Smart Chain continues to serve as the infrastructure for building the DApp ecosystem.

4. opBNB

opBNB is the Layer 2 scaling solution for BNB Chain, based on the OP Stack technology of Optimism. It offers high throughput, low transaction fees, and extremely high transaction processing efficiency, capable of handling over 4,000 transactions per second, with an average gas fee of only $0.001.

5. BNB Greenfield

BNB Greenfield is a decentralized storage solution aimed at promoting data ownership and the development of the data economy. It features native cross-chain programmability, EVM-compatible storage, and high-speed decentralized storage.

2. The Pinnacle and Challenges of BNB Chain

1. Brilliant Moment

• In May 2021, the total locked value of DeFi on BNB Chain reached ( TVL ), surpassing 20 billion USD, second only to Ethereum.
• Daily active addresses exceed 2 million
• PancakeSwap's 24-hour trading volume has long ranked first in the entire network.
• Meme tokens such as Safemoon and BabyDoge have sparked community frenzy.

2. Changes in Market Structure

• Solana's rise attracts a large number of retail users.
• Ethereum Layer 2 solutions are flourishing, diverting developers and users.
• Industry concerns about the "liquidity fragmentation" issue

3. Challenges Facing BNB Chain

• TVL has decreased to about one-third of its peak.
• DApp weekly trading volume decreased by 25%
• Lack of phenomenally iconic projects
• Binance centralized exchange faces global regulatory pressure, negatively impacting the BNB Chain ecosystem.

3. The Revitalization Strategy of BNB Chain

1. Community Restructuring

• CZ( Zhao Changpeng ) returns, reactivating community enthusiasm.
• Actively interact with the community, such as responding to community creations like the Mubarak Meme.

2. Meme economy revival

• $TST token has attracted attention
• The $MUBARAK token has gained popularity due to positive news about MGX, an Abu Dhabi investment company, investing in Binance.

3. Stablecoin Strategy

• Supports the issuance of USD1 stablecoin on the BNB Chain
• The $B token is deeply bound to USD1, becoming the main trading pool for USD1.

4. Binance Alpha section

• Launched the Binance Alpha section to discover early-quality projects.
• Launch the Alpha Points rewards system to encourage users to participate in trading and ecosystem development.

4. Future Development Direction

1. Deepening Decentralization

• Launched a new version of the Web3 wallet, integrating cross-chain bridge, TGE Launchpad, and ZK identity module.
• Guide users to learn private key management to achieve true asset autonomy.

2. AI Empowerment

• List AI as one of the three main focus areas for the future.
• Support the development of AI agent platforms, AI-driven games, decentralized social networks, and DeFi, among other fields.

3. Multi-dimensional development strategy

• Emotion: Attracting user attention using Meme tokens
• Value: Deeply tied to USD1, strengthening the stablecoin ecosystem
• Incentives: Stabilizing the developer community through measures such as MVB, AlphaPoints, and Gas refunds.
• Entrance: Build a Web3 Wallet ecosystem, expand on-chain traffic

V. Conclusion

BNB Chain is undergoing a significant transformation. By combining elements such as decentralization, AI, and high liquidity, BNB Chain aims to reposition itself as an AI-native traffic gateway in an era of multi-chain coexistence. This transformation not only concerns the fate of BNB Chain itself but will also have a profound impact on the entire blockchain industry. In the future, whether BNB Chain can recreate its former glory remains to be seen.