BNB Chain has made some great progress notwithstanding the crypto cold that is gripping the market, particularly now that Ethereum has been exceeded in terms of the number of distinct wallet addresses.
The BNB Chain, the blockchain supported by the Binance exchange, has 233 million distinct addresses, overtaking Ethereum to become the largest tier 1 blockchain in the globe, according to data released by the platform’s creators on December 22.
As of 12/23/2022, the number of unique addresses on the BNB Chain. According to Etherscan, Ethereum, its main rival, presently has more than 217 million unique addresses.
As of December 23, 2022, Ethereum had a certain number of distinct addresses.
In May 2022, the network reached 9.8 million transactions per day, and in October 2022, it reached 2.2 million daily active users (DAU), where DAU is described as the number of unique addresses that communicate with the smart contract each day.
The network’s success in 2022 is attributed by developers to a variety of quickly deployed projects, where Layer 2 zkBNB and a sidechain solution known as BNB Chain Application Sidechain (BAS) play a key role.
The first Soulbound Token on BNB Chain, which enables users to register wallet addresses for improved KYC reasons, was also released.
This innovation improved the platform’s reputation in the Web3 and NFT gaming communities, drawing in a sizable user base
Despite the achievements just described, BNB Chain continues to face criticism for being overly centralized by many members of the blockchain community.
Even though the network expects to add 60 more validators in the future months to address this issue, the most recent update notes that it has already added 23 more validators by 2022. BNB Chain, with less than 400,000 validators, lags well behind Ethereum in terms of decentralization.
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