Binance Smart Chain (BSC) has announced its forthcoming major upgrade, BEP 336, drawing inspiration from Ethereum’s EIP 4844.
BEP 336 aims to significantly reduce transaction costs and enhance network performance on the Binance Smart Chain. This announcement coincides with Ethereum’s Dencun upgrade going live on its mainnet, marking a pivotal moment for blockchain technology.
The upgrade introduces “Blob-Carrying Transactions” (BlobTx), allowing for the temporary and cost-effective storage of large data chunks, up to 128 KB. This approach streamlines the transaction verification process by verifying data accuracy within blobs rather than individually for each transaction. This feature is particularly advantageous for opBNB, the layer 2 network of the Binance ecosystem.
BEP 336 includes a blob market and a precompile contract. The blob market regulates blob storage and transmission costs based on network demand, while the precompile contract adds an additional layer of security by verifying data in blobs against their references in transactions.
While inspired by Ethereum’s EIP 4844, BEP 336 incorporates unique features tailored to Binance Smart Chain’s specific needs and structure. These include a dynamic gas pricing mechanism for blobs and a distinct token burn mechanism.
The rollout of BEP 336 will occur in phases. It will first debut on the testnet in April, followed by a Magnet phase in May for further testing and optimization. Finally, the upgrade is scheduled to launch on the Binance Smart Chain mainnet in June through a hard fork.
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