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Binance Network is also building a BNB Chain Layer-2 scaling solution to improve transaction speeds and costs.
Separately, the firm announced on June 15 that Binance Pool has launched a “Bitcoin transaction accelerator”.
The new solution will allow users to confirm their transactions on the bitcoin network regardless of any potential network congestion issues. noted,
Binance Pool is the exchange’s service platform dedicated to improving the income of BTC miners.
Binance Teasing A Layer-2
The bitcoin network has recently struggled under block space demands amid BRC-20 memecoin minting and the ordinal inscription craze.
In May, regular users were plagued by high transaction fees and a backlog of unconfirmed transactions in the bitcoin mempool.
The new transaction accelerator will only be available to verified Binance Pool users.
Also on June 15, BNB Chain posted a short video introducing a new Layer-2 solution. It said the new offering was “coming soon” on June 19, but gave no further details.
19.6.23 pic.twitter.com/R8ZLTNt4kS
— BNB Chain (@BNBCHAIN) June 15, 2023
in some crypto community suggested That the BNB chain will emulate Polygon and launch a zkEVM for the layer-2 chain.
A zero-knowledge Ethereum Virtual Machine is a fully compatible layer-2 solution that can integrate seamlessly with Ethereum’s smart contract ecosystem.
Binance is currently embroiled in a battle with the US Securities and Exchange Commission, which last week sued the firm for violating securities laws, among other alleged misconduct.
bnb price outlook
Binance native token BNB has had a roller-coaster ride ever since the company came under fire from US regulators.
The asset declined to a low of $231 before trading at $236 at the time of writing. It has lost 22.6% since the SEC sued the firm on June 6.
BNB is currently down 65.5% from its all-time high of $686 on May 10, 2021. Despite the regulatory war on exchanges, BNB has fared better than many of its brethren. Many altcoins, especially those related to DeFi, are down 90% from their all-time high.
Crypto markets, in general, remain flat on the day, with a total capitalization of $1.07 trillion at the time of writing.
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