NB Smart Chain (BSC) is set to undergo an upgrade with the introduction of “BEP 336.” Taking inspiration from Ethereum’s EIP 4844, this upgrade seeks to transform the storage and processing of data on the blockchain, resulting in lower costs and enhanced network performance.
BNB Chain, also known as Binance Smart Chain (BNB), is an L1 launched by Binance, BNB Chain supports smart contracts, enabling developers to create decentralized applications (dApps) and execute programmable transactions on the network.
Its interoperability with the Ethereum network allows for seamless interaction between the two blockchains which facilitates cross-chain asset transfers and interoperability between applications running on both networks.
What is BEP 336?
BEP 336 introduces a new method called Blob-Carrying Transactions (BlobTx) on BSC. These transactions use temporary memory segments known as blobs to efficiently manage large data chunks.
Each blob can hold up to 128 KB of data which will help simplify transaction verification by consolidating data on the network. This reduces the need for individual verification, making BlobTx transactions a cost-effective way to process data on BSC.
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While BEP 336 is inspired by Ethereum’s EIP 4844, it’s customized to fit BSC’s unique structure and needs. For example, BSC has its own way of managing and storing blobs within the network. Additionally, BSC adjusts gas prices for blobs dynamically to keep transaction costs reasonable. Unlike Ethereum, BSC doesn’t burn the blob’s Base Fee as part of its token burn mechanism.
According to BNB Smart Chain, the testnet will launch in April where developers will be permitted to use it and help report issues discovered. This will be followed by the Magnet Phase in May. Here, there will be further testing and optimization of BEP 336. Lastly, the mainnet hard fork will be initiated in June 2024. This will lead to BEP 336 officially deployed on the BSC mainnet.
The deployment of BEP 336 is expected to bring about reduced gas fees, efficient data management, and improved user experience, especially for developers.
