BNB Chain surpasses Ethereum in the variety of wallet addresses on the blockchain

Despite the cryptocurrency winter taking hold in the marketplace, BNB Chain nevertheless has some extraordinary final results, specifically as exclusive wallet addresses have now surpassed Ethereum.

BNB Chain surpasses Ethereum in the number of wallet addresses on the blockchain
BNB Chain surpasses Ethereum in the variety of wallet addresses on the blockchain

On Jan. 22, the developers of BNB Chain, the blockchain powered by the Binance exchange, mentioned that exclusive addresses on the platform surpassed the 230 million mark, surpassing Ethereum to come to be the biggest tier one blockchain in the planet.

However, it appears that the aforementioned statement by the BNB Chain group is a bit “outrageous”. Because in contrast to Etherscan, Ethereum now has much more than 217 million exclusive addresses. In contrast, BNB Chain has above 233 million addresses. This helps make sense with the conclusion that BNB Chain outperforms Ethereum on this metric. Even so, the Bitcoin network now has above one billion addresses, building BTC even larger than the two networks mixed.

Number of exclusive addresses on Ethereum as of December 23, 2022. Source: Etherscan
Number of exclusive addresses on BNB Chain as of twelve/23/2022. Source: BSCscan
The variety of exclusive addresses on the Bitcoin network as of December 23, 2022. Source: Glassnode

Overall, the information presented is only a portion of the BNB chain’s “One Year Review” report. The submit also highlights other important milestones that blockchain has attained in the previous 12 months.

Notable final results involve the network reaching 9.eight million transactions per day in May 2022 and two.two million day-to-day lively end users (DAU) in October 2022, with a defined DAU getting the variety of exclusive addresses per day interacting with the intelligent contract.

The developers attribute the accomplishment of the network in 2022 to a series of quickly rolling out initiatives, in which a sidechain resolution referred to as BNB Chain Application Sidechain (BAS) and Layer two zkBNB perform a function.

In addition, the release of a new strategy this kind of as the to start with Soulbound Token on BNB Chain, which enables end users to register wallet addresses for far better KYC functions, has greater the status of the platform in the Web3 and NFT gaming neighborhood, therefore attracting a significant variety of end users.

Despite the successes just pointed out, BNB Chain is nevertheless criticized by numerous elements of the blockchain neighborhood for getting as well centralized. Although the final submit mentions that the network has additional 23 much more validators (Validators) by 2022 and strategies to improve the variety to 60 in the coming months to handle this concern. However, in terms of decentralization, BNB Chain lags far behind Ethereum with above 400,000 validators.

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