BNB Chain is a blockchain network that powers the Binance ecosystem. It was created by the Binance cryptocurrency exchange and launched in 2019. The BNB Chain supports the Binance Coin (BNB), which is used as a utility token on the Binance exchange platform. The BNB token is used for various purposes, including paying trading fees, participating in token sales, and accessing premium services on the Binance platform. The BNB Chain also supports the creation and issuance of other digital assets, such as tokens and stablecoins, on its platform. The BNB Chain uses a Proof-of-Stake (PoS) consensus algorithm to validate transactions and secure its network.
In this case study, we will look at the integration of rBlox networking software into the networking layer of BNB Chain, and the resulting benefits of increased throughput, reduced energy consumption, and decreased synchronization time.
Background and Motivation:
As blockchain technology continues to grow and be adopted across various sectors, the need for a faster, more secure, and energy-efficient optimization of blockchain is ever-present. The current reliance on TCP/IP, a nearly 50-year-old network technology, is increasingly vulnerable to security threats, has high latency, and is energy inefficient when handling transaction-intensive technologies. rBlox aims to address these issues with a more efficient network layer optimization for high throughput demanding network technologies.
The main issue with TCP/IP as a legacy technology is that it has become increasingly vulnerable to security threats, has high latency, and is energy inefficient when handling transaction-intensive technologies. A more efficient solution is required to handle the growing network traffic in sectors such as blockchain and fintech.
The rBlox networking software is derived from the InterProcess-communication (IPC) methodology, which considers every node on a given network as an IPC that communicates with other IPCs in a distributed fashion on a network level. By applying this methodology to networks, rBlox achieves scalability, performance, flexibility, cost efficiency, and security.
rBlox aims to integrate its networking software into blockchain's networking layer, replacing socket API calls with rBlox API calls to achieve a more scalable, less latent, and energy-efficient blockchain solution. The integration has been implemented on multiple open-source platforms, including BNB Chain, XRP-Rippled, and Hyperledger Fabric. The objective is to demonstrate the benefits of the solution through benchmarking and testing.
The benchmarking has been conducted on a peer-to-peer private local network with the following system specifications: Ubuntu with kernel version 5.4.0-89-generic 64-bit, Intel Core i5-7400 @ 3.00 GHz, 8.00 GB RAM DDR4 2400 MHz, Intel corporation ethernet interface with a size of 100Mbit/s and a capacity of 1Gbit/s, Ethernet switch D-Link DES101-6D 100Mbps.
The benchmark metrics for the integration of rBlox networking software into the networking layer of BNB Chain are:
Increase Network Throughput by Decreasing Transaction time (in ms)
% of change in time taken to complete X amount of transactions
Decrease synchronization time
% of change in time taken to sync blocks after X amount of transactions
Decrease Energy Consumed by nodes which are executing transactions (in kWh)
% of change in energy consumption per X amount of transaction