BNB Chain Successfully Completes BEP 336 Upgrade Inspired by Ethereum
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Coinspeaker BNB Chain Successfully Completes BEP 336 Upgrade Inspired by Ethereum This upgrade, inspired by Ethereum is designed to significantly enhance the network’s performance, security, and functionality. In a blog post on June 20, BNB Chain announced that the BEP 336 upgrade is now live on the mainnet, marking a major milestone in the blockchain’s development. The hard fork was initially rolled out on the testnet in April this year. Key Features of the BSC Upgrade The network said it drew inspiration from Ethereum’s EIP 4844, which was introduced earlier this year through the Dencun upgrade, to improve the overall performance of the network. In an accompanying announcement on X, the protocol said that users can now enjoy reduced gas fees and other enhancements that came with the upgrade. Transaction fees for all Binance Smart Chain (BSC) contracts have now been slashed by up to 90%. The upgrade also introduced a new feature into the BNB Chain called “Blob-Carrying Transactions” (BlobTx), a type of memory space for storing transaction data. The protocol explained that instead of verifying each transaction within a block individually, the BNB Chain now needs to verify the data within the attached blob. This feature has been available on Ethereum layer-2 networks since the completion of the Duncan upgrade in March. However, according to industry executives like Arthur Breitman, the co-founder of the Tezos blockchain, blobs will not solve all the underlying challenges of the scaling solutions on Ethereum. Broader Impact on the BNB Chain Ecosystem BNB Chain said the introduction of BEP 336 aims to create a more robust and scalable infrastructure, benefiting both developers and users. According to the network, the upgrade will have a major impact on BNB Greenfield. Additionally, the upgrade promises efficient data management and an enhanced user experience. “With lower costs…
Filed under: News - @ June 21, 2024 5:10 am