Chainlink Data Streams Launches on opBNB: Boosting Secure DeFi on BNB Layer-2

About opBNB

Launched in August 2023, the opBNB mainnet is an innovative Layer 2 network aimed at enhancing the performance of the Binance Smart Chain. Here are some key features of opBNB:

• Operates as an optimistic rollup network
• Improves network efficiency by offloading work from the mainnet
• Supports a throughput of 5,000 to 10,000 transactions per second (TPS)
• Includes a sequencer for transaction ordering and a Batcher for bundling transactions

Why BNB Chain Adopted Chainlink Data Streams

Chainlink Data Streams represents a significant advancement for Decentralized Finance (DeFi) markets, offering developers the ability to enhance trading experiences through:

• Minimal slippage
• Lower fees
• Ultra-fast settlement times
• Robust safeguards against market manipulation

The system’s impartial data delivery, credibly neutral settlement infrastructure, and commit-and-reveal design provide built-in protections against frontrunning. This ensures fair trade execution and shields users from toxic flow and adverse selection.

High-Quality Market Data

Chainlink Data Streams has been adopted as the preferred low-latency oracle for opBNB, delivering:

• High-quality, high-frequency market data
• Liquidity-weighted bid-ask spreads
• Execution times under one second

This infrastructure not only maintains transparency and decentralization but also enhances the competitiveness and adaptability of decentralized applications (dApps) in responding to market fluctuations.

Future of Decentralized Trading

The collaboration between Chainlink and BNB Chain through the implementation of Data Streams on opBNB is set to reshape the future of decentralized trading. Additionally, Chainlink recently introduced its CCIP Private Transactions feature, which facilitates private transactions across blockchain networks, addressing critical privacy concerns in the industry.

Current Market Status

As of press time, Chainlink (LINK) is trading at $11.19 with a market cap of approximately $7 billion. The trading volume has seen a notable increase of 64.52%, reaching $407 million in the last 24 hours.