Binance is also preparing a BNB Chain layer-2 solution to improve network transaction speeds and costs.
Separately, on June 15, the company announced that Binance Pool had launched a “Bitcoin Transaction Accelerator.”
The new solution will allow users to confirm their transactions on the Bitcoin network faster, regardless of any potential network congestion issues. male.
Binance Pool is an exchange services platform dedicated to improving the income of BTC miners.
Binance teasing layer 2
The Bitcoin network has struggled with the demand for block space recently amid the craze for BRC-20 memecoin and ordinal inscriptions.
In May, regular users experienced high transaction fees and a backlog of unconfirmed transactions in the Bitcoin mempool community.
The new transaction acceleration program will only be available to authorized Binance Pool users.
Also on June 15, BNB Chain published a short video promoting a new Layer 2 solution. She said the new show will be “coming soon” on June 19, but no further details were provided.
19.6.23 pic.twitter.com/R8ZLTNt4kS
– BNB Chain (BNBCHAIN) June 15, 2023
Some in the crypto community Proposal BNB Chain will emulate Polygon and launch zkEVM for layer 2 chains.
The zero-knowledge Ethereum Virtual Machine is a fully compliant Layer 2 solution that can seamlessly integrate with Ethereum’s smart contract ecosystem.
Binance is currently locked in a battle with the US Securities and Exchange Commission, which sued the company last week for violating securities laws, among other alleged misdemeanors.
BNB price forecast
Binance’s native BNB token has been on a rollercoaster ride since the company came under fire from US regulators.
The asset fell to an intraday low of $231 before recovering to trade at $236 at the time of writing. It has lost 22.6% since the SEC sued the company on June 6.
BNB stock is currently down 65.5% from its all-time high of $686 on May 10, 2021. Despite the regulatory war on the exchanges, BNB has fared much better than a lot of its brethren. Many altcoins, especially those related to DeFi, are down 90% from their peak prices.
Cryptocurrency markets, in general, remain flat during the day, with a total capitalization of $1.07 trillion at the time of writing.
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