There’s a big upgrade on the way for the BNB Smart Chain (BSC) network called BEP 336. This new system is modeled after Ethereum‘s EIP 4844 plan. The main goal is to make data storage and processing on the blockchain more efficient. By improving these core functions, BEP 336 aims to significantly reduce transaction fees while also boosting overall network performance.
The key part of BEP 336 is something called “Blob-Carrying Transactions” (BlobTx). These are special transactions that carry “blobs” of data up to 128KB in size. Rather than checking each transaction one by one, the network only needs to verify that the attached blob data is accurate. This streamlined approach will be very helpful for opBNB, which is BSC’s layer 2 scaling solution. Right now, opBNB uses BSC for data storage while taking advantage of its strong security.
But BEP 336 doesn’t stop at just blobs. It has three main components working together: the Blob Market (which adjusts blob storage/transfer costs based on demand), a Verification Contract (to confirm blob data is correct), and a flexible fee system with set limits to keep costs reasonable.
While inspired by Ethereum’s plan, BEP 336 has been specially designed for BSC’s unique setup. A key difference is a custom blob transfer method to integrate properly with BSC’s architecture. Also, unlike Ethereum, BNB Chain won’t “burn” base fees for blobs since it has its own fee-burning approach.
Rollout Strategy For BNB Smart Chain
The rollout strategy is already mapped out. It starts with a testnet release in April so developers can test BEP 336. Then in May is the “Magnet” phase for further testing and optimizations. Finally, the mainnet hard fork in June will officially activate BEP 336 across the entire BSC network.
This upgrade brings many potential benefits. Lower fees and better data handling will make BSC much more accessible to everyday users and developers alike. The temporary blob storage ensures the blockchain stays lean without excess bloat, improving overall performance.
But BEP 336 is just the start of BNB Chain’s big plans for 2024. Other initiatives include optimizations for better transaction scaling, customized layer 2 solutions for large apps, and data storage improvements for opBNB. All of these are aimed at creating an extremely high-performance blockchain system ready for the future.