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BNB Smart Chain Records 32 Million Transactions in a Day in Q4 2023

24/01/2024 21:38

According to Messari Report: In Q4 2023, BNB Smart Chain (BSC) hit a record 32 million transactions in a single day and an average of 4.6 million daily transactions, representing a QoQ increase of 30% and a YoY increase of 35%. The revenue of BSC witnessed growth by 27% QoQ, and its market capitalization escalated by 48% QoQ. The number of active validators on BSC increased from 32 to 40, demonstrating a 25% QoQ and a 54% YoY increase, spurred primarily by the implementation of BEP-131 and BEP-159. The Venus Protocol surpassed PancakeSwap in terms of DeFi Total Value Locked (TVL) share on BSC, accounting for 39% of the total share, with PancakeSwap covering 37%. A new dimension was added to BNB Chain with the launch of the BNB Greenfield mainnet. This initiative establishes a BNB Chain-native storage network, integrating decentralized cloud storage with the smart contract functionality of BSC for a formidable infrastructure for Web3-native and AI-focused projects. The fourth quarter of 2023 also saw the sunset of the BNB Beacon Chain, with its staking and governance functions being migrated to BSC. This reflects BNB Chain's commitment to enhancing overall security, scalability, and reducing complexities. Moreover, the launch of opBNB, an optimistic rollup boosting the execution throughput for BSC, the introduction of BEP-322 for standardizing proposer-builder separation (PBS) to enhance transparency and stability, and BNB Chain's joining of Adobe’s Content Authenticity Initiative (CAI) featured among the key development highlights. The report culminates by stating that as the next market cycle unfolds, BSC is strategically poised to capture value through its forthcoming product launches and focus on fortifying its core protocol.

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