iBNB

<ul><li>BEP 336 upgrade inspired by Ethereum aims to lower transaction costs and boost BNB Smart Chain&#39;s efficiency.</li><li>New &#34;Blob-Carrying Transactions&#34; introduced for cost-effective data storage and enhanced verification processes.</li><li>Phased rollout of BEP 336 to begin on testnet in April, with full implementation expected by June through a hard fork.</li></ul>Ethereum competitor BNB Smart Chain has <a href="https://www.bnbchain.org/en/blog/bep-336-evolving-bnb-smart-chain-with-blob-transactions" rel="noopener noreferrer nofollow">unveiled plans</a> for a significant upcoming upgrade, BEP 336, which is inspired by the latest advancements from Ethereum. This upgrade aims to reduce transaction costs and enhance network efficiency. The upgrade coincides with the <a href="https://cryptotale.org/ethereums-dencun-upgrade-sets-stage-for-btc-beta-narrative-surge/" rel="noopener noreferrer nofollow">activation</a> of Ethereum&#39;s EIP 4844 Dencun upgrade, a pivotal moment for blockchain technology.BEP 336 introduces innovative &#34;Blob-Carrying Transactions&#34; (BlobTx), designed to store large data segments temporarily in a cost-effective manner, streamlining the transaction verification process. This feature will be particularly advantageous for opBNB, the BNB ecosystem&#39;s layer 2 network. It facilitates the verification of data accuracy within these blobs instead of each transaction, thereby enhancing overall network efficiency.The efficiency gains from this approach are manifold. Firstly, it leads to significant reductions in gas fees, making transactions more cost-effective for users. Secondly, it introduces a proactive management of blockchain bloat, ensuring that data integrity and availability are maintained throughout its lifespan on the chain.<a href="https://cryptotale.org/bnb-smart-chains-bep-336-upgrade-set-to-rival-ethereums-eip-4844/" rel="noopener noreferrer nofollow">Read full article at CryptoTale.</a>

BNB Smart Chain's BEP 336 Upgrade Set to Rival Ethereum's EIP 4844

CryptoTale

Other articles published on Mar 14, 2024

Are Memecoins the Next Big Thing? PEPE, WIF, and BONK Breaking Every New All-Time Highs!

Predicting a ‘Significant Shift’ as Bitcoin Hits Unprecedented $73.8K Mark: Expert Analysis

CoinShares Acquires Valkyrie Funds, Expands US Footprint with Major Bitcoin ETF Portfolio Enhance...

Memecoin dogwifhat (WIF) Achieves Remarkable Milestone with $3.35 ATH

Ethereum’s Price Struggle and Market Dynamics

Court Rules Craig Wright Is Not Bitcoin Creator Satoshi Nakamoto

Join our free newsletter for daily crypto updates!