Unlocking The Potential: BEP 336 Launches A New Frontier On BNB Smart Chain

A big change is coming to the BNB Smart Chain (BSC) network, soon called BEP 336. This new system is like a makeover inspired by Ethereum’s EIP 4844 idea. Its main job is to make storing and dealing with data on the blockchain smoother. By fixing up these main jobs, BEP 336 wants to cut down on transaction costs and improve the whole network.

BEP 336 has this thing called “Blob-Carrying Transactions” (BlobTx). These special deals carry bits of data up to 128KB. Instead of looking at every deal individually, the network needs to ensure the bits of data attached are correct. This simpler way will help opBNB, which is BSC’s way of making things bigger without slowing down. Right now, opBNB stores its data on BSC and stays safe thanks to its strong security.

But BEP 336 does more than blobs. It has three main parts that all work together: the Blob Market (which changes blob storage/transfer costs depending on how much people want them), a Verification Contract (to make sure blob data is right), and a flexible fee system with specific limits to make sure prices are fair.

Inspired by Ethereum’s idea, BEP 336 is made just for BSC’s way of doing things. The big change is how blobs move around, tailored to BSC’s system. Unlike Ethereum, BNB Chain doesn’t erase base fees for blobs; it has its way of dealing with fees.

BNB Smart Chain Upgrade: Enhancing Efficiency

The plan is set. We’ll release the testnet in April so developers can try BEP 336. Then comes May, the “Magnet” phase for more testing and improvements. Finally, in June, the mainnet hard fork will make BEP 336 live on the BSC network.

This upgrade has a bunch of good stuff. It means fewer fees and better data handling, making BSC easier for regular folks and developers. The temporary blob storage keeps the blockchain light, improving it overall.

But BEP 336 is just the beginning of BNB Chain’s big plans for 2024. They’re also working on making transactions faster, creating special tools for big apps, and improving how opBNB stores data. These changes make the blockchain fast and ready for whatever comes next.

Related Reading | What is Bitcoin: The First Digital Money

The authorā€™s views are for reference only and shall not constitute any investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing.

Comments (No)

Leave a Reply