The BNB chain is set to undergo a revolutionary upgrade with the introduction of BEP 336, inspired by Ethereum’s EIP 4844. This upgrade aims to optimize data storage and processing on the blockchain, significantly reducing transaction costs by up to 90% and improving network performance. On the BNB Chain blog.
What is BEP 336?
BEP 336 will be officially introduced through the Haber hard fork, which will take place on June 20, 2024. BEP 336 introduces “Blob-Carrying Transactions” (BlobTx), a concept designed to streamline the transaction confirmation process on the network.
Blobs are temporary, cost-effective memory segments that can capture large chunks of data, up to 128 KB each. Instead of verifying each transaction within a block individually, the network only needs to verify the data within the associated blob.
Key Components of BEP 336
- blob market: This feature establishes a fee market for blobs and regulates storage and transmission costs based on network demand.
- precompilation agreement: This contract adds an additional layer of security by ensuring that the data in the blob matches the reference contained in the blob transport transaction.
- Blob propagation and gas pricing mechanism: BEP 336 was built to fit BSC’s unique architecture. Unlike Ethereum, blobs in BSC are managed solely by the BSC client. BSC also implements a dynamic gas pricing mechanism for Blobs. Additionally, unlike Ethereum’s fee burn mechanism, BSC does not burn the base fees associated with blobs, reflecting its unique economic strategy.
BEP 336 and BNB Greenfield
The BEP 336 update will also have a significant impact on BNB Greenfield.
Greenfield enhances distributed storage and data management with “BlobHub,” a data archiving layer that optimizes large-scale data storage for layer 2 blockchains and decentralized applications (Dapps).
BlobHub ensures data integrity, accessibility, and longevity – key elements of data-intensive blockchain environments.
How BlobHub works
The BlobHub system consists of blob-syncer, API server, and bundled services. The blob-syncer brings and stores blobs from Ethereum and other blockchains into Greenfield, unifying various data sources within the BSC. The API server processes historical blob queries from users, while the bundle service efficiently aggregates, validates, and uploads blobs to Greenfield. The post-verification step ensures that all uploaded blobs maintain consistency and integrity, preventing data inconsistencies and duplicate uploads.
Benefits of BEP 336
The deployment of BEP 336 is expected to have far-reaching implications for both developers and users within the BSC ecosystem.
Save on gas costs
BEP 336 significantly lowers transaction costs in the BSC network by eliminating the need for persistent storage of certain data types. Introducing Blob can reduce gas fees by up to 90%, making transactions much more affordable for users.
Efficient data management
The temporary storage mechanism keeps the blockchain compact and bloat-free, improving overall network performance. This efficient data processing strategy helps maintain data integrity and availability without consuming indefinite network space.
Improved user experience
With lower costs and improved efficiency, BEP 336 makes the BSC ecosystem more accessible to a broader audience, from seasoned developers to blockchain novices. This upgrade will also benefit opBNB and BSC’s other Layer 2 (L2) solutions.
conclusion
With BEP 336, BNB Smart Chain is poised to deliver unprecedented cost savings and efficiencies by solving the dual challenges of data management and transaction costs. As the release of BEP 336 approaches, the potential for innovation and growth within the ecosystem has never been greater. Stay tuned for further updates as the mainnet hard fork approaches.
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