BNB Smart Chain introduces the BEP 336 upgrade, inspired by Ethereum’s EIP 4844, to optimize data storage, reduce transaction costs, and prepare for improved network performance.
The BNB Smart Chain (BSC) ecosystem is preparing for a major leap forward with the announcement of BEP 336, an upcoming major upgrade. This new development is inspired by Ethereum’s EIP and will revolutionize the way data is stored and processed on the blockchain. 4844. The implementation of BEP 336 promises to mark a milestone in the continued evolution of BSC by reducing transaction costs and improving network performance.
BEP 336 introduces a new concept called “Blob-Carrying Transactions” (BlobTx). It is designed to handle large chunks of data in cost-effective temporary memory segments, with each blob carrying up to 128KB. The main advantage of this approach is that it reduces the need to individually verify each transaction within a block. Instead, the network simplifies the transaction confirmation process by verifying the accuracy of the data contained in the attached blob.
This upgrade is especially useful for opBNB, a layer 2 network operating in the BNB ecosystem. opBNB relies on BSC for data storage while leveraging security features. The ephemeral nature of blobs means they do not consume network space indefinitely, which lowers storage costs and ultimately reduces gas fees for users.
Key components of BEP 336 include Blob Market, which introduces a fee market for blobs to regulate costs based on network demand, and precompilation contracts, which further secure the network by ensuring that blob data matches its transaction references. .
BSC’s unique architecture required the development of a custom strategy for blob propagation and persistence, distinct from Ethereum’s approach. BSC also implements a dynamic gas pricing mechanism for Blobs with minimum and maximum thresholds to maintain reasonable transaction costs, a feature that is missing in the Ethereum implementation.
The phased rollout plan for BEP 336 will begin with a testnet launch in April, allowing developers to evaluate and interact with the upgrade. This will be followed by a magnet phase for continued testing and optimization in May, which will conclude with a mainnet hard fork in June and the official deployment of BEP 336 will begin.
The benefits anticipated from this upgrade extend across the BSC ecosystem. Users can expect reduced gas fees and more efficient data management, which will prevent blockchain bloat and improve overall network performance. These improvements make BSC more user-friendly and accessible and allow it to attract a wider audience, from experienced developers to users new to blockchain technology.
Looking forward, BNB Chain has a strategic vision for 2024 that focuses on scalability and improving user experience. “Parallel EVM Re-Architecture” is one such initiative that aims to significantly improve transaction processing and scalability. BNB Chain is also further advancing opBNB through its “Rollup as a Service” (RaaS) initiative to support large-scale Dapps in developing custom L2 solutions, and implementing a “Path-Based Storage Scheme” (PBSS) to further optimize storage. I’m doing it.
In conclusion, BEP 336 reflects BNB Chain’s proactive and innovative approach to solving data management and transaction cost issues. This upgrade demonstrates BNB Chain’s commitment to scalability and efficiency and sets the stage for a transformational period of network growth.
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