BNB
by BSCN
September 13, 2022
We dive into BNB Chain performance and Binance ecosystem updates from the last week, including users transactions, news and price movement.
Here are some key metrics of BNB Chain’s performance between Sept. 2 and 8:
The period under review was marked by many significant developments on BNB Chain and within the Binance ecosystem. These included the announcement of the BNB Beacon Chain's Testnet Gibbs Upgrade, the launch of Binance Account Bound (BAB) tokens, the introduction of zkBNB, and more.
In a Sept. 5 announcement, BNB Chain confirmed that the BNB Beacon Chain testnet is expected to undergo a hard fork upgrade at block height 30,516,226. It expects this would fall on Sept. 16 at 7:30 a.m. (UTC). Full node operators on the testnet are expected to upgrade their software to v0.10.2 ahead of the hard fork. According to the blog post, this upgrade, referred to as BEP 153, will allow individual or institution delegators to stake their $BNB to specified validators and directly get staking rewards on the BNB side.
On Sept. 8, Binance announced the launch of the Binance Account Bound (BAB) token - a soulbound token designed as proof of identity for Binance users who have completed KYC verification. In addition, the leading exchange partnered with 14 projects built on BNB Chain to deploy the BAB tokens to offer their users utility. These partners include ApeSwap, ApolloX, PearDAO, Project Galaxy, X World Games, Summoner's Arena, Ultiverse, CyberConnect, P12, Math Wallet, LiveArt, OpenOcean, TinyWorld and The Harvest.
With the drive to solve problems associated with blockchain scaling, BNB Chain launched zkBNB on the testnet on Sept. 2. Built for Web3 developers, zkBNB can be deployed by builders of NFT dApps, blockchain gaming, and social media projects. According to the blog post, zkBNB can roll up sidechain transactions into a single transaction, generating a cryptographic proof, commonly referred to as a Succinct Non-interactive Argument of Knowledge (SNARK).
According to CoinMarketCap, $BNB exchanged hands at $283.37 as of writing. In the past week, BNB coin logged a 1% price uptick.
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