At Extreme Investor Network, we are excited to share groundbreaking updates in the world of cryptocurrency and blockchain technology. Today, we are diving into the transformative upgrade coming to BNB Chain through the introduction of BEP 336, inspired by Ethereum’s EIP 4844.
What is BEP 336?
The Haber hard fork, scheduled for June 20, 2024, will officially introduce BEP 336 to the BNB Chain ecosystem. This upgrade introduces the concept of “Blob-Carrying Transactions” (BlobTx), aimed at streamlining transaction verification processes on the network.
Key Components of BEP 336
One key feature of BEP 336 is the Blob Market, which establishes a fee market for blobs to regulate storage and transmission costs based on network demand. Additionally, the Precompile Contract adds an extra layer of security by verifying that the data in a blob matches the reference included in the transaction. With a unique Blob Propagation and Gas Price Mechanism tailored to BSC’s architecture, BEP 336 offers a dynamic and efficient data processing solution.
BEP 336 and BNB Greenfield
The BEP 336 update will not only transform BNB Chain but also impact BNB Greenfield, enhancing decentralized storage and data management with BlobHub. This data archive layer optimizes large-scale data storage for Layer 2 blockchains and Dapps, ensuring data integrity, accessibility, and longevity.
How BlobHub Operates
BlobHub operates through a system comprising the blob-syncer, API server, and bundle service, fetching and storing blobs from various blockchains into Greenfield efficiently. The technology ensures data consistency and integrity, preventing data discrepancies and duplicate uploads.
The Benefits of BEP 336
BEP 336 offers a range of benefits for developers and users within the BSC ecosystem, including reduced gas fees, efficient data management, and an enhanced user experience. With up to a 90% reduction in transaction costs and leaner blockchain maintenance, BEP 336 paves the way for a more accessible and efficient BSC ecosystem.
Conclusion
As BNB Smart Chain prepares for the rollout of BEP 336, the potential for cost savings, efficiency, and innovation within the ecosystem is at an all-time high. Stay tuned for more updates as the mainnet hard fork approaches, and join us on Extreme Investor Network for the latest in cryptocurrency and blockchain advancements.