How Ankr has transformed the scalability of the BNB Chain

Posted on

Cryptocurrencies struggle with scalability is well known. Ethereum suffers from very high gas costs that make it unusable for many customers, leading to the emergence of many alternative Layer-1s. Binance, a leading global exchange, was one of these companies to develop its own blockchain. While some criticize the BNB Smart Chain for being centralized, you can’t dispute the basement-level fees and impressive scalability it offers. Its impressive performance is partly due to Ankr, the provider of the Web3 infrastructure. In consultation with the Binance team, Ankr implemented several open source performance improvements that transformed the network. There was a 10 times increase in RPC request throughput, a 75% reduction in requirements storage, a synchronization process 100 times faster, not to mention a completely new framework for scaling blockchain operations with application-specific sidechains. Samy Karim, ecosystem coordinator of the BNB Chain, said: “Ankr is a key infrastructure provider for the ecosystem of the BNB Chain: their contributions and skills have been fundamental in the implementation of the updates of the BNB Chain with the Erigon client, in rewriting the archive node infrastructure and creating a framework for BNB Sidechain of applications. This allows the BNB Chain ecosystem to remain competitive and offer both users and builders the latest benefits. ” Ankr discovered for the first time the inefficiencies with the BNB Smart Chain in its operations in how much are the predominant RPC provider for the chain and one of its 21 validators, in particular the difficulty in staying up to the block as it has experienced extremely high traffic volumes. After discovering these problems, Ankr is committed to creating a multi-pronged approach to increase the capacity of the BNB Chain: Erigon’s performance update: Ankr’s engineering team found that by implementing the Erigon client originally created for Ethereum, it is possible to drastically reduce the capacity storage and synchronization times. BNB Application Sidechains (BAS): BSC is a fork of Ethereum but has commiss low gas ions and rapid block generation periods leading to much higher transactions per block. This puts a lot of stress on the chain and its ability to climb. Ankr proposed a multi-chain scaling solution mature enough to handle advanced use cases like GameFi, unlike Layer-2 solutions. Ankr changed the BSC consensus level to enable staking for the native tokens of the new sidechains while preserving its full EVM capabilities. BAS dApp launch assistance: as Ankr helped create BAS, they are uniquely positioned as a ramp to help projects launch their own custom designed blockchain on this new framework scaling with a full set of tools such as custom system contracts, custom tokenomics, inflation models, global gas commission revenues, testnet faucet, block explorer, and game SDK. BNB Liquid Staking: Ankr has further supported the BNB Chain ecosystem with the first BNB Liquid Staking solution that brings DeFi composability to the top of BNB in staking. These changes have helped transform the BNB Chain into what we know today and Ankr will continue to s supporting the BNB Chain ecosystem in the future, as well as creating solutions for more native cross-chain asset transfer capacity with lower transfer costs and greater security.


Advertisement Below