BNB Smart Chain has unveiled its upcoming major upgrade, BEP 336, inspired by Ethereum’s EIP 4844.
According to the BNB chain, BEP 336 will significantly decrease transaction costs and boost network performance. This development coincides with Ethereum’s Dencun upgrade going live on the mainnet today, marking a significant day for blockchain technology.
The upgrade introduces “Blob-Carrying Transactions” (BlobTx), enabling large data chunks up to 128 KB to be stored temporarily and cost-effectively. This approach simplifies the transaction verification process on the network. BNB Smart Chain (BSC) enhances efficiency by verifying data accuracy within blobs rather than each transaction individually. The feature is especially beneficial for opBNB, the layer 2 network of the BNB ecosystem.
The upgrade comprises a blob market and a precompile contract. The former regulates blob storage and transmission costs based on network demand, while the latter adds a layer of security by verifying data in blobs against their references in transactions.
BEP 336 distinguishes itself from Ethereum’s EIP 4844 with features like a dynamic gas pricing mechanism for blobs and a different token burn mechanism, reflecting BSC’s unique needs and structure.
BEP 336 is set for a phased rollout. It will debut on the testnet in April, followed by a Magnet phase in May for further testing and optimization. The upgrade will launch on the BSC mainnet in June through a hard fork.