BNB Chain Introduces BEP 336; Reducing Fees By Up to 90%
Dubai, UAE, June 20th, 2024, Chainwire
BNB Chain, the community-driven blockchain ecosystem that includes the world’s largest smart contract blockchain, has announced the successful activation of the BEP 336 Haber Hardfork today. This upgrade introduces blob-carrying transactions, drastically reducing gas fees by up to 90%, and marks a significant step in optimizing BNB Chain’s data storage and processing capabilities.
Users can now enjoy significantly reduced data availability costs for Layer 2 (L2) solutions on BNB Chain, making transactions more affordable and accessible. This cost reduction enhances the overall efficiency of the ecosystem, positioning BNB Chain as one of the more economical platforms for developers and users.
The implementation of BEP 336 will cut L2 costs on BNB Chain Smart Chain (BSC) by 90% compared to current levels. For instance, opBNB, which already boasts some of the lowest transaction costs in the industry, will see further reductions to approximately $0.0001, and benefiting the L2s operating on BSC.
The upgrade brings “Blob-Carrying Transactions” (BlobTx) to the network. A blob is a temporary and cost-effective memory segment capable of capturing large data chunks, up to 128 KB each. Instead of verifying each transaction within a block individually, the network only needs to verify the data within the attached blob.
The temporary storage mechanism ensures a lean and bloat-free blockchain, improving overall network performance. Lower costs and improved efficiency make the BNB Chain ecosystem more accessible, benefiting both seasoned developers and blockchain novices. This upgrade will benefit opBNB and other L2 solutions on BSC and following the hardfork, L2 networks building on BSC will enable this feature with plans to announce more details soon.
This integration marks a new era of lower operational costs and increased efficiency for projects and developers leveraging the BNB Chain.
BNB Chain invites all developers and blockchain enthusiasts to explore the capabilities and benefits introduced by the BEP 336 Haber Hardfork.
For more details on BEP 336 Haber Hardfork and its implementation, users can visit here.
About BNB Chain
BNB Chain is a community-driven blockchain ecosystem that is removing barriers to Web3 adoption. It is composed of:
- BNB Smart Chain (BSC): A secure DeFi hub with the lowest gas fees of any EVM-compatible L1; serves as the ecosystem’s governance chain.
- opBNB: A scalability L2 that delivers some of the lowest gas fees of any L2 and rapid processing speeds.
- BNB Greenfield: Meets decentralized storage needs for the ecosystem and lets users establish their own data marketplaces.
Setting a high bar for security, the AvengerDAO community protects BNB Chain users while Red Alarm provides a real-time risk-scanner for Dapps. The ecosystem also offers a range of monetary and ecosystem rewards as part of its Builder Support Program.
For more, users can follow BNB Chain on X or start exploring via our Dapp library.