The post BNB Chain activates BEP 336 hard fork, reducing fees by 90% appeared on BitcoinEthereumNews.com.

BNB Chain, the blockchain ecosystem governed by the community and featuring the most extensive smart contract blockchain globally, has officially implemented the BEP 336 Haber hard fork today. This upgrade implements blob-carrying transactions, significantly reducing gas expenses by up to 90%. Also Read: Binance rolls out HODLer airdrops to BNB Holders On June 20, the blockchain network reported the successful activation of the hard fork, drawing inspiration from the Ethereum Improvement Proposal (EIP)-4844. The hard fork enables the inclusion of blob-carrying transactions, a concept that simplifies the verification process. BNB Chain activated hard fork BNB Chain has announced that the implementation of BEP-336 will result in a 90% reduction in layer-2 costs on the BNB Smart Chain (BSC). The network asserted that its opBNB optimistic rollup layer-2 solution will experience a significant reduction in network fees, estimated to be approximately $0.0001. With the latest version, transactions will no longer require separate verification within a block. Instead, they will be validated within the associated blob, which is a temporary memory segment that captures big data chunks. Source: BNB Chain The upgrade introduces “Blob-Carrying Transactions” (BlobTx) to the network. A blob is a temporary and economical memory segment that can store substantial data chunks, with a maximum size of 128 KB per chunk. Instead of individually confirming each transaction within a block, the network just needs to verify the data contained in the attached blob. According to the upgrade, the temporary storage system guarantees an efficient and streamlined blockchain, enhancing the network’s overall performance. The BNB Chain ecosystem offers enhanced accessibility, benefiting experienced developers as well as newcomers to blockchain technology through reduced expenses and increased efficiency.  BNB Greenfield upgrade in the works The planned update will also impact BNB Greenfield, a decentralized storage solution. BNB Chain has announced that Greenfield will…

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Filed under: News - @ June 20, 2024 4:24 pm