The number of unique addresses on the Build and Build (BNB) chain has now exceeded the number of addresses on Ethereum, the developer said in a December 22 statement.
BNB Chain has made significant progress in integrating the next billion users into #Web3 in 2022.
We want to thank our amazing community for taking part in the ride as we lay the groundwork for an even greater year ahead.
More details â¤µï¸ https://t.co/9jNFdVeoZ3 pic.twitter.com/QjxL3ey759
– BNB Chain (@BNBCHAIN) December 22, 2022
The developer claims that this makes the BNB chain “the largest layer 1 blockchain in the world”. However, blockchain data shows that the Bitcoin network is still larger than BNB Chain and Ethereum.
According to Etherscan, Ethereum currently has over 217 million unique addresses. By comparison, there are over 233 million unique addresses on the BNB chain, according to BscScan. This means that the BNB chain is larger than Ethereum.
The Bitcoin network, on the other hand, has over a billion unique addresses, making it larger than the two networks combined.
This statement was made in BNB Chain’s “Year in Review”. The post also highlighted other milestones the BNB Network has achieved over the past year. The network hit a peak of 9.8 million daily transactions in May and 2.2 million daily active users in October. The number of daily active users is determined by the number of unique addresses per day interacting with a smart contract.
The developers attribute the network’s success in 2022 to several initiatives put in place this year. The BNB sidechain protocol allows DApp developers to run their DApps on separate parts of the network (shards). This reduces congestion and lowers transaction costs.
The team also launched a $10 million developer grant and incentive program for DApp developers. This has resulted in the development of more DApps for the BNB channel and, as a result, attracted more users.
“Soul-linked tokens” were also introduced, allowing users to register their wallet addresses for identity verification purposes by keeping non-transferable tokens in their wallet. The developers claim that this has improved the reputation of BNB Chain in the NFT and Web3 gaming community.
According to the team, the launch of the Avenger DAO also contributed to the growth. This is an API that notifies BNB Chain users when they interact with smart contracts that have been identified as malicious. The team believes this makes users feel safer on the BNB network and therefore more likely to stay there.
Despite the successes, the BNB chain has been criticized by many in the blockchain community for being too centralized. The post also mentions that the network recruited 23 additional validators this year. Another 60 will follow in the coming months, making the network less centralized. By comparison, Ethereum has over 400,000 validators.