BNB Smart Chain Revolutionizes Blockchain with BEP 336 Upgrade

The BNB Smart Chain is excited to announce its forthcoming major update, BEP 336, which draws inspiration from Ethereum’s EIP 4844. This innovative step by the BNB Chain promises to dramatically reduce transaction fees while enhancing the overall efficiency of the network. This update is particularly timely, coinciding with the implementation of Ethereum’s Dencun upgrade on its mainnet, signaling a pivotal moment for the advancement of blockchain technology.

BEP 336 introduces a novel concept of “Blob-Carrying Transactions” (BlobTx), which allows for the temporary and economical storage of large data packets, up to 128 KB. This method streamlines the transaction verification process across the network, enabling the BNB Smart Chain to improve its efficiency by focusing on the verification of data integrity within these blobs, as opposed to verifying each transaction on an individual basis. This is a boon for opBNB, the secondary layer network within the BNB ecosystem, facilitating more efficient data handling.

Included in the upgrade are a blob market and a precompile contract, enhancing the system’s functionality. The blob market adjusts the costs associated with blob storage and transfer according to current network demand, while the precompile contract introduces an additional security measure by validating data within blobs based on their transaction references.

Distinguishing itself from Ethereum’s EIP 4844, BEP 336 incorporates unique features tailored to the BNB Smart Chain’s specific requirements and architecture. These include a dynamic gas pricing model for blob transactions and an alternative token burning strategy.

BEP 336 is slated for a gradual deployment, starting with a testnet launch in April. This will be followed by a Magnet phase in May, dedicated to extended testing and refinements. The update is scheduled to be fully implemented on the BNB Smart Chain’s mainnet in June, through a hard fork, marking a significant leap forward in blockchain efficiency and scalability.

source