Unique addresses on the BNB (BNB) chain have already overtaken Ethereum, according to a December 22 statement from a developer.
BNB Chain has made great strides in accommodating the next billion users #web3 in 2022.
We want to thank our amazing community for being on this journey as we lay the foundation for an even bigger year to come.
More details ⤵️ https://t.co/9jNFdVeoZ3 pic.twitter.com/QjxL3ey759
– BNB Chain (BNBCHAIN) December 22, 2022
BNB Chain has made great strides in preparing the next billion users for #Web3 in 2022.
We want to thank our amazing community for joining us as we lay the groundwork for an even bigger year to come.
Additional details here
– BNB Chain (BNBCHAIN)
The developer claims that this makes BNB Chain “the largest layer-one blockchain network in the world.” However, the blockchain data shows that the Bitcoin network is still larger than BNB Chain and Ethereum.
According to Etherscan, Ethereum currently holds more than 217 million unique addresses. On the other hand, the BNB chain has more than 233 million unique addresses according to BscScan. This means that BNB Chain is larger than Ethereum, based on this metric.
On the other hand, the Bitcoin network has more than 1 billion unique addresses, which makes it larger than both networks combined.
This statement came as part of BNB Chain’s “A Year in the Past”. This post also highlights other significant achievements of the network in the past year. BNB Chain reached 9.8 million transactions per day in May and reached 2.2 million daily active users (DAUs) in October, with DAUs defined as the number of unique addresses that interact with a smart contract in one day.
The developers attribute the network’s success in 2022 to several initiatives implemented throughout the year. The BNB Sidechain protocol allows decentralized application (Dapp) developers to run their own Dapps on separate parts of the network, reducing congestion and lowering transaction costs.
Secondly, the team funded a $10 million seed grant and incentive program for Dapps developers, which led to the creation of more applications for the BNB chain and this in turn attracted more users.
Additionally, “tokens” were introduced to the network, which allowed users to register wallet addresses for Know Your Customer (KYC) purposes while holding non-transferable tokens in their wallets. The developers claim that this has increased the reputation of the BNB Chain in the Web3 gaming and non-fungible token communities.
Ultimately, the team credited its growth with the launch of Avenger DAO, an API that alerts BNB Chain users whenever they interact with potentially malicious smart contracts. In the team’s view, this made users feel more secure when browsing the BNB network, resulting in higher user retention.
Despite recent successes, BNB Chain is still criticized by many members of the crypto community for being too centralized. The post states that the network has added 23 validators this year and plans to add 60 more in the coming months, which will help make the network less decentralized. In comparison, Ethereum has more than 400,000 validators.
Read more