BNB Chain Activates Hard Fork, Reduces Fees by 90%

Haber Hard Fork Introduces BEP-336, Enhancing Data Storage and Transaction Efficiency on BNB Chain
BNB Chain Activates Hard Fork, Reduces Fees by 90%

BNB Chain has successfully activated the Haber hard fork, implementing BNB Evolution Proposal (BEP)-336 to optimize data storage and processing. Announced on June 20, 2024, this upgrade claims to reduce blockchain fees by 90%, significantly lowering layer-2 costs on the BNB Smart Chain (BSC). The new system introduces blob-carrying transactions, streamlining the verification process and reducing transaction costs to around $0.0001.

Unlike Ethereum's EIP-4844, BNB's approach tailors blob management to its unique ecosystem. This hard fork also benefits BNB Greenfield, a decentralized storage solution, enhancing its data management capabilities with "BlobHub." This advancement ensures improved efficiency for decentralized applications (DApps) and layer-2 networks on BSC.

The hard fork comes as BNB's price hit an all-time high of $717.48 on June 6, reflecting strong market performance and confidence in BNB's innovations. With a 19% gain in early June, BNB outperformed the broader crypto market's 4.2% increase, although its sustainability remains under scrutiny.

Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.

Crypto Insider News Inc