According to a developer statement dated Dec. 22, unique addresses in the Build and Build (BNB) chain have now surpassed Ethereum.
BNB Chain has made significant progress in onboarding the next billion users #Web3 in 2022.
We want to thank our incredible community for riding along as we lay the groundwork for an even bigger year to come.
Learn more ⤵️https://t.co/9jNFdVeoZ3 pic.twitter.com/QjxL3ey759
— BNB Chain (@BNBCHAIN) December 22, 2022
The developer claims that this will make BNB Chain “the largest layer 1 blockchain in the world”. However, blockchain data shows that the Bitcoin network is still larger than both BNB Chain and Ethereum.
According to Etherscan, Ethereum currently has over 217 million unique addresses. BNB Chain, on the other hand, has more than 233 million unique addresses, according to BscScan. This implies that BNB Chain is larger than Ethereum as judged by this metric.
On the other hand, the Bitcoin network has over 1 billion unique addresses, making it larger than both networks combined.
The statement was made as part of BNB Chain’s “Year in Review.” The post also highlighted other major milestones the BNB network has achieved over the past year. The network peaked at 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 per day that interact with a smart contract.
The developers attribute the network’s success in 2022 to several initiatives implemented this year. The BNB Sidechain protocol allowed developers of decentralized applications (Dapp) to run their Dapps on separate parts of the network, reducing congestion and transaction costs.
Second, the team funded a $10 million building grant and incentive program for Dapp developers, which resulted in more Dapps being created for BNB Chain and this in turn attracted more users.
In addition, “Soulbound tokens” were introduced, which allowed users to register wallet addresses for Know Your Customer (KYC) purposes by holding non-transferable tokens in their wallets. The developers claim that this has increased BNB Chain’s reputation in the NFT and Web3 gaming community.
Finally, the team attributed its growth to the launch of Avenger DAO, an API that alerts BNB Chain users when they interact with contracts that have been flagged as malicious. According to the team, this made users feel more secure on the BNB network, leading to increased user retention.
Despite these successes, BNB Chain continues to be criticized by many in the blockchain community for being too centralized. The post does mention that the network added 23 validators this year and plans to add 60 more in the coming months, which should help make the network less centralized than before. In comparison, Ethereum has over 400,000 validators.