What is zkBNB? Potential Scaling Solution for BNB Chain

Zero-knowledge proof (ZKP) is one of the scaling options previously used by many Layer 1 blockchains; Ethereum and BNB Smart Chain now also apply this solution. BNB Smart Chain has introduced ZkBNB, a breakthrough in terms of scalability solutions for blockchain technology. So what is ZkBNB? Let’s find out with Crypto Chill below!

What is ZkBNB?

ZkBNB is a project built on the ZK (Zero Knowledge) Rollup architecture, a Layer-2 solution that allows all off-chain state changes and calculations to be performed on a sidechain. With this architecture, ZkBNB can bundle hundreds of transactions into a single batch (a rollup block)  and generate cryptographic proofs to prove the validity of all transactions in that block. ZkBNB uses SNARK’s non-interactive knowledge argument to generate these proofs, ensuring the security and authenticity of all transactions made on the BNB Sidechain.

With ZkBNB, all funds are held on Binance Smart Chain (BSC), while calculations and storage are performed on the BNB Sidechain, which reduces costs and speeds up transactions. Thanks to the use of Zk-SNARK proofs, ZkBNB is as secure as the BNB Smart Chain, providing an efficient solution for conducting cryptocurrency transactions.

Why does BSC need zkBNB?

To solve the network scalability problem that BSC is facing, a new standard is proposed called BEP100 to introduce a modular framework for the creation of BSC-compatible sidechains. Sidechains are separate blockchains that run independently of the main blockchain (BSC); however, they are connected to the BSC Mainnet via a two-way bridge.

BEP100 proposes to have these sidechains connect to BSC through a local relay center, which will lead to improved network performance, faster processing, and lower gas fees. Furthermore, the security of the local relay center is ensured by the sidechain. However, bridges are currently considered a top target for hackers, as attacks on bridges accounted for 69% of all funds stolen in 2022. Therefore, there is a need for a solution that not only overcomes network scalability issues but also helps in secure communication between BSC and BSC-compatible sidechains. Thus, zkBNB, an architecture built on zero-knowledge rollups, was introduced.

Structure of zkBNB

Key components of the zkBNB infrastructure include:

• Committer: Responsible for executing transactions and creating consecutive blocks.
• Monitor: Track events on BSC and convert them into transactions on zkBNB.
• Witness: Responsible for re-executing transactions in block rollup and creating certificate documents.
• Prover: Responsible for creating cryptographic proofs based on certificate documents.
• Sender: Compress the L2 blocks and send them to L1, and send proofs to verify them.
• API Server: As an access point for the majority of users, It provides rich data, including digital assets, blocks, transactions, exchange information, and gas fees.
• Recovery: Tool to restore Sparse Merkle trees in a kv-rocks-based world state in PostgreSQL

Features of ZkBNB

• High security: By using zkSNARK proofs, ZkBNB ensures the same security as the main chain for transactions, and users do not need to trust third parties or track Rolups Blocks to prevent fraud.
• Seamless integration between Layer-1 and Layer-2: allows BNB and BEP20/BEP721/BEP1155 tokens to freely transfer between BSC and ZkBNB.
• Built-in AMM swap (Auto Market Maker): allows trading digital assets without permission and automation using built-in liquidity pools.
• NFT Marketplace built-in: NFT dapps can implement zkBNB’s built-in NFT marketplace and API service to develop crypto and NFT collectibles.
• Improve transaction speed and block creation: ZkBNB can support 100 million addresses and process up to 10K transactions per second (TPS).
• Low cost: The token used as a gas fee on ZkBNB can be BEP20 or BNB, with up to 10x lower fees.
• Completely separate from the main chain: Allows users to request a full exit to withdraw funds at any time if they see zkBNB censoring their transactions.

Target audience

User:

• User experience has always been a top priority for BNB Smart Chain. This is why ZkBNB was built for blockchain games and social media projects.
• With the Naming Service feature introduced by zkBNB, the built-in naming service on the platform also allows users to provide clear and memorable names in their transactions, helping investors interact more closely with each other.

Developer:

• Offering open source, zkBNB is aimed at all Web3 developers, especially those who develop dApps for NFTs. ZkBNB provides a robust set of REST APIs, ensuring that Web2 game or content developers can launch their Web3 projects quickly and seamlessly with ZkBNB.
• In addition, zkBNB provides simple trading support for tokens, making it easier for developers to switch between BNB and tokens of different standards such as BEP20, BEP721, and BEP1155 between BSC and zkBNB.

Wrapping Up

• It can be seen that the ambition of BNB Chain through zkBNB is huge. Born after the BNB sidechain, zkBNB is the framework for creating sidechains in the BNB Chain ecosystem.
• Currently, zkBNB is in the testnet, with the mainnet expected to launch in the first quarter of 2023. After the official launch, BNB Chain will officially complete its infrastructure, including Beacon Chain, BNB Smart Chain, BNB App Sidechain, and BNB ZkRollup.

• As the zkBNBs work in tandem with BAS, expect to attract even more projects and more users to compete with Ethereum’s scaling.

Summing up

Through the above article, CryptoChill has helped you know about the zkBNB and the highlights of the project.

Disclaimer: This post is not investment advice. You will be 100% responsible for your investment decisions.
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